HFT 1000 Test 2 Chapter 6 Six units are needed to be considered a franchise Chain operations business under one management or ownership Owned by the same company Found in different geographical locations Brand specific identity identity of a business that is intentionally created through a careful combo of design of its products service offered name logo slogan and signs The goal of a brand is to display a consistent image in the minds of guests Simple Form chain that has a single owner investor who has full equity stake in all units owned by company Mixed franchise form mix of ownership and privately owned aka some parent company owned and some franchised owned Management Franchise Form When the parent company also offers professional management service for the non company owned Brand Management Form mega corporations owned multiple chains and operations under a parent umbrella structure refer to each chain operation and brand ADVANTAGES Market reach Reaching many markets in increase sales Economies of scale cost advantage a company can derive because of its large size Streamline operation standardizing products and services making it all simplified SOP standard operation procedure Enhanced market power increased visibility gained Value added service operation customer loyalty program consulting services employee training program architecture and construct design Access to finances company may have multiple options for raising money for growth Pro Management enhances legal requirements and complexity of operations hiring pro s now DISADVANTAGES Operational constraints no changes restrict franchise options Franchise Strains pay parent company thru royalties incentives franchise fee marketing fee Legal forces complex structure of chain operation along with owner operation contracts Globalization big chains Chains offer strength in numbers REVIEW o 6 What is a brand o Specific identity of business What s the goal of a brand How many units must be owned before its considered a chain o Investment in a successful business with similar goods and services o Consistency of image What is a franchise What is chain operations o Unit owned by same company What is simple form chain o One single investor What is a mixed franchise What are the top 3 hotel chains o Intercontinental o Marriot o Windom What are the top 3 food service chains o McDonalds o Subway o Wendy s o Owned by parent company and independent investor What is management franchise form o Parent company provides management services which a fee is charged for the service Why is there a need for hiring production managers o There are new higher legal barriers and it s much more complex What are disadvantages of owning multiple unit operations o Operation constraints can t change anything o Franchise constraints fee s o Legal forces constraints Advantages of a chain o Market research o Economies of scale o Stream lining What is brand management o Mega corporation owns multiple chains under parent company run a ton of brands What is customer relationship management o Knows what the people want so the next time they come back their requests are met Chapter 8 it up Legislative issues associations serve a critical need as they keep their members informed on pending legislative decisions that may impact their industry NRA national restaurant association which exists to promote restaurant industry trade in MAY In CHICAGO AH LA American hotel and lodging association holds a huge trade show in NYC during NOV There are smaller groups that cater to smaller associations Industry Associations Governing documents MISSION STATEMENT derives a purpose developed by members a guide BY LAWS includes number of members guidelines written by members and can change VISION STATEMENT what you foresee to happen for company umbrella statement Joining associations is important because you can network get opportunities join student Networking chapters etc Food Associations Lodging Associations Travel and Tourism NRA ADA American dietetic association for a healthy lifestyle ACA American culinary association American Hotel and lodging domestic national work for education International Hotel Associations hotels opportunity at international level Tourism industry association of America promotes travel World Tourism Organization connected with United Nations Also many research groups Special Segments Club manager Meetings professionals international Council of hotel Rating systems REVIEW DIAMOND rating by AAA American auto association STARS system by Forbes Travel Guide also used to be Mobile Travel Guide 3 Documents that help associations run smooth o Bylaws o Mission statement o Vision statement Benefits of joining associations What are the two rating systems o American auto association o Forbes travel guide What are Bylaws o Networking newsletters internship opportunities legislation o Written by members guidelines and can be amended To find associations to attend go where o The library NRA does what o Promote restaurant industry has largest tradeshow in May Reason why associations are formed o Network o Promote industry o Legislative decisions Characteristics of how associations are formed o Many different geographical locations Best way to meet the needs of members o Lobbying to convince politicians of different laws Mission Statements are for what o State the purpose of the group Networking is important because o More people you know the more opportunities you have NRA promote restaurant industry Why are restaurants having more diamonds ACF learn how to prepare and handle food ADA promote healthy lifestyle AH LA promote hotel industry o More people eating out demanding higher quality Where does the World Tourism Association operate from o United Nations Chapter 9 What is management As a noun it is used to identify those in charge of directing business affairs Oversee whole operation Management becomes a service also because you re providing a task Operations Management Management getting tasks completed through people Managers responsible for the work of others Managing operations of company requires diplomacy working knowledge of human motivation and good problem solving skills Role Responsible for others Deciding what tasks go to which people Deciding how to match jobs with personality to achieve goals Assign Work Effective Consider individuals free time Use assign as way to develop people Know exactly how to communicate what you need Follow up oral
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