Research was conducted to determine areas of strengths and weaknesses of the Food Service/Hospitality Management program of Ferris State University (Michigan). The study examined graduates' perceptions of the preparation they received and of the adequacy of their preparation for the hospitality industry. A literature review focused on strategies being used to meet the challenges of the 1990s in the hospitality industry. A questionnaire was mailed to 268 Ferris State University graduates with an associate and/or bachelor's degree from 1985-90; 93 responded. Findings were as follows: (1) only 3.2 percent of respondents were unemployed; (2) 49.5 percent were very well satisfied or satisfied with their salary; (3) 62.4 percent were very satisfied or satisfied with job security; (4) graduates suggested that some increase in communication skills was needed; (5) 83.9 percent perceived themselves as being as qualified as graduates of other universities and colleges; and (6) 78.5 percent of food service management and 35.5 percent of hotel management graduates felt they were prepared for a management position. Respondents also rated degree of preparedness in individual technical and conceptual skills. Recommendations were for an emphasis on technical and conceptual competencies in hospitality management curricula, increased emphasis on mathematics proficiencies, and a focus on human and emergency resource skills. (Appendixes include the instrument and a list of 18 references.) (YLB)