【正文】 m of individual parts. 7. Delphi Analysis: It is a forecasting technique in which a panel of experts makes predictions about the future regarding a particular issue. Each panel member makes an individual projection or forecast, and each of the projections is assembled into a posite report, which is then reviewed by the entire group. 8. Intellectual Property: It is a collective term used to refer to ideas or works in the classes of industrial property or copyright. Industrial property means 14 legal rights in the form of patents, technological inventions, trademarks, industrial designs, and appellations of origin. Copyright means legal rights in the form of literary works, musical works, and artistic works, and in films, books, and performance of performing arts in live form and in any recorded format, including photographs, television or other visual medium. 9. SevenS Framework: It is a framework developed by McKinsey amp。 Co. consultants to assist understanding the interrelated strategic elements that determine a pany?s success or failure. Seven S refers to strategy, structure, staff, superordinated goals, skills, style, and system. 10. mission statement: It is a short statement of the central purposes, strategies and values of a pany. Part III Questions and Answers (20 points) Directions: Give a brief answer to each of the following questions 5. What is the significance of the Airline Deregulation Act of 1978 to the American tourism industry? The Airline Deregulation Act was a piece of US legislation signed into law on October 28, 1978. The main purpose of the act was to remove government control from mercial aviation and expose the passenger airline industry to market forces. It makes the American tourism industry more petitive and more market oriented. 6. What are the differences between GDP and GNP? GDP refers to gross domestic product while GNP refers to gross national product. GNP), in economics, is a quantitative measure of a nation39。s total economic activity, generally assessed yearly or quarterly. GNP equals the gross domestic product plus ine earned by domestic residents through foreign investments minus the ine earned by foreign investors in the domestic market. GDP is the moary value of all of a nation39。s goods and services produced within a nation39。s borders and within a particular period of time, such as a year, while gross national product covers all goods and services produced by the residents regardless of where they were working. 7. What are the key management functions? They are planning, anizing and staffing, leading, and controlling. Planning is analyzing a situation, determining the goals that will be 15 pursued in the future, and deciding in advance the actions that will be taken to achieve these goals. The second major management function, anizing and staffing includes the efforts of managers to assemble the human, financial, physical, and information resources needed to plete the job and to group and coordinate employees, tasks, and resources for maximum success. The leading function focuses on the manager?s efforts to stimulate high performance among employees. This activity involves directing, motivating, and municating with employees, both as individuals and in groups. As a result, the fourth function, controlling, emphasizes evaluation and change. 8. How does yield management work in hotel management? Yield management, also known as revenue management, is the process of understanding, anticipating and reacting to consumer behaviour in order to maximize revenue. Yield management is being practiced in airlines industry for the last 20 years and also in the hotels internationally for about 10 years. It basically applies to all retail sectors where capacity is fixed and enables the vendors like hotels to price the product differently for different market segments, purchase patterns and distribution channels. The basic objective is to increase the revenue and the contribution by charging a higher price from certain market segments, distribution channels, purchase patterns like length of advance booking etc. This is now being practiced very widely by all the hotel chains and progressive independent hotels for marketing of hotel room inventories. The strategy is designed to dramatically increase revenues, maximise profits, greatly improve the effectiveness of market segmentation, open new market segments and strengthen product portfolio strategies. The strategy and the implementation is dependent on having a good data about past purchases of different segments, occupancy levels in different parts of the year/parts of the week, occupancy achieved through different segments etc. There are sophisticated puter softwares and models available from the vendors, which are being used by all the practitioners. 16 Part IV Translation (30 points) Directions: Translate the following passage into Chinese. According to advance figures from the . Bureau of Economic Analysis, the national economy (as measured by gross domestic product) contracted at an inflationadjusted percent annual rate in the third quarter—the first quarter of negative growth in more than eight years. Most economists predict an even larger contraction in the fourth quarter of 2020. If there is negative growth in the fourth quarter of 2020, then the economy officially will be in a recession. Within the restaurant industry, the employment picture also looks bleak. On a seasonally adjusted basis, eatinganddrinking places cut 42,000 jobs in October, which followed a 43,000 job reduction in September. This marks the worst restaurantindustry employment performance on record for those two months. 根據(jù)美經(jīng)濟(jì)分析局先期發(fā)布的數(shù)字，國民經(jīng)濟(jì)在第三季度（按國內(nèi)經(jīng)濟(jì)總產(chǎn)值計算）根據(jù)通貨膨脹修正后的年增長率收縮了 。這是連續(xù) 8年來首個負(fù)增長季度。大多數(shù)經(jīng)濟(jì)學(xué)家預(yù)計 2020年第四季度將會出現(xiàn)更大的緊縮。如果 2020年第四季度出