Question2)

A) A budget is a plan, but things dont always go according to plan, what should you do when you notice that reality is different from budget? B) Name four external factors that can impact the budget for a hospitality venue. C) Choose one of these factors and explain the impact it would have and what you as the manager of the venue could do to mitigate its affects. D) What two pieces of information do you need in order to control a wage budget? E) It is necessary for every manager to be aware of what is happening in their industry and in the wider community that could impact on their budget. Where do they get this information and what help can they get to interpret it? F) Research the Australian economy and explain what you think will happen to the hospitality industry in the next three years. What positive factors can you see and what negative factors can you highlight?