Title: Explain a travel and tourism manager's role in budget management.
Course: Travel, Tourism, and Destination Marketing (16152) > Section: Understanding the Financial Implications of Marketing and Sales

Explanation should include managing

- expenses
- revenue
- productivity
- operations
- personnel
- travel
- forecasting.

Process/Skill Questions:

- What are the elements of an effective budget?
- Why are budgeting skills important in management?
- How can expense control increase productivity?
- What types of operations and personnel may be involved in expense control?
- How can labor costs be controlled?
- What are the consequences of failing to meet budgeted sales goals?
- What is the most important aspect of controlling a budget? What is the least important?
- How should one prioritize budget items when all aspects are interrelated?
- How does a tourism manager create a forecast? What data is used?