HFT 3277 EXAM 4 STUDY GUIDE Hospitality Who donated money to build the Dedman school Robert Dedman Study Abroad program in Switzerland Dedman students are required to have 12 academic credit hours worth of internships Dedman hosts an internship program in Scotland Global versus International Define global global mindset is one that combines and openness to and awareness of diversity across cultures and markets with a propensity and ability to see common patterns across countries and markets Define international something involves more than a single country Means involvement of interaction between or encompassing more than one nation What is the difference o Global words Comprehensive Interactive Influencing Exhaustive All inclusive o International words Multinational Involving two or more nations External Foreign Outside Global happenings are occurrences that may ensue in one country but it effects the entire industry Political o Free Trade o Wars o Economies Economic o US Model of golf as an amenity o Over supply in US affects development in other countries o Travel patterns Environmental o Pinehurst Effect o Fish Kills o Pesticide laws o Mangroves Social o Discrimination o Exclusion o Western Hospitality o Prostitution o Displacement Equity versus Non equity Equity Clubs o Owned by members and shareholders o Governed by an elected Board of Directors o Managers work for members o Members have voting rights o Set up as a non profit so exempt from most taxes Non Equity Club o Owned by an individual or corporation o Members do not own club o Members do not have a say in club policies or management o Managers work for company or owner not members o Not tax exempt o Usually for profit What are clubs resorts A private club is o People with a common bond o Exclusive membership not open to the public o Social and or recreational facilities o Membership fees F B What can F B do for a club o Help attract new members o Member retention o Help club attain financial goals o Members are more likely to see club in a positive light o The 1 women come to the club is for dining How is F B different from clubs and restaurants o Income is limited can only charge members so much only so many members to go around o Multiple outlets casual dining formal quick service banquets etc o Food and labor costs are higher than typical F B outlets high quality ingredients items prepared fresh daily larger portions higher waste special requests always available o Service staffing levels turnover rates purposely overstaff so members are seated when they want o Days hours of operation the club is always open o Service standards top notch service in all outlets must make members happy special requests are standard customized service How is F B similar to restaurants o Menu engineering design for high profit sales o Follow trends food and beverage items o Multiple offerings for variety of tastes chicken steak seafood healthy Goals Make goals not healthy o Specific o Measurable o Realistic o Time bound Strategic and operational goals o Need short term midterm and long term goals for each Sustainability Balance Development which meets the needs of the present without compromising the ability of future generations to meet their own needs o Economic growth o Social transformation o Environmental capital o Wealth and poverty and a balance between the wants of today and the essentials of tomorrow The world is a large system one in which the actions of each country affect the livelihoods of people in other countries o ex Cutting a tree down in Brazil may blemish an ecosystem housing scarce medicinal fauna adversely affecting the quality of life of individuals in Europe needing a cure o Excessive water usage allocated in an affluent town may rob those desperate for life s most basic requirement o Temporary financial gain for one government may result in the up rooting of villagers represented by that same government Three legs of sustainability o Environmental o Economic o Social Sustainable categories o Individual sustainability focuses on the distinct benefits to recipients of specific programs specified community o Community sustainability emphasizes long tem changes within the o Organizational sustainability refers to the programs of a specific organization such as the PGA of America o Institutional sustainability reflects a more macro level of policies and practices of sustainability such as in an entire sport for example golf Initiation fees upfront fees to become a member Different fee structures Equity fees ownership Monthly dues paid monthly Minimums F B Assessments one time fees o Capital improvements o Meet operating shortfalls Management companies in an Equity Club In a private equity club the GM s boss is the members board and president If the GM works for a management company at a private equity club where the members own it but the managers run it the GM reports to management Different types of private clubs Country clubs City clubs Military clubs Athletic Health clubs University clubs Tennis clubs Yacht clubs Corporate clubs Dining clubs Job duties Board of Directors o Made up of elected members o Directors plus officers President VP etc o Duties come from bylaws o Establish club operating policies governs the club o Overseeing financial stability of club o Approves operating budget financial responsibilities o Votes on new member applicants o Fill vacancies on the board o Oversee transfer of membership o Supervise club elections o Hires GM o Handles member discipline problems o Board of Directors Three Primary Roles Duty of Care govern the club with prudence be responsible practical Duty of Loyalty good faith must put the interest of the club above over their own personal interests Duty of Obedience must remain faithful to the mission of the club General Manager o Hired by board o Attends board meetings but is not a BOD members o Caries out policies set by board o Manages revenues and expenses o Supervises all club managers o Provides quality facilities and services o Prepares annual budget o Oversees club operations Assistant GM o Manages clubhouse operations and personnel o GM s second hand man o Enforces policies and procedures Controller o Manages accounts budgets o Prepares financial statements forecasts o Financial analysis F B manager o Manages all dining facilities banquets o Monitors F B budget personnel o Ensures high quality food and service o Hires executive chef Director of golf Head golf