HFT3240 Study Guide Test 1 Exam 1 Will Cover Modules 1 5 PPTs and Discovering the Soul of Service o Any links or articles are fair game to be included on the test Raving Fans Articles 1 3 3 HBS Case Studies o Design Thinking and Innovation at Apple o Starbucks Delivering Customer Service o In N Out Burger This study guide is simply meant to assist you in study for the exam additional topics from the course content may be covered on the exam Remember this is a 3000 level course and the test will be challenging Know the drivers of sustainable success Understand the challenges in sustaining success Understand and be able to explain all module learning objectives Review the individual companies people we covered in the text and PPT s and how they achieve sustainable success Understand the common company core values Understand and be able to explain all module learning objectives Understand how to create a teamwork culture Review the individual companies people we covered in the text and PPT s and how they sustain their success Understand the roles for values driven leaders Understand and be able to explain all module learning objectives Understand how to apply the roles of values driven leaders Review the individual companies people we covered in the text and PPT s and how they maintain values driven leadership Understand the concept of strategic focus Understand and be able to explain all module learning objectives Understand how organizations operate with a core values system Module 1 Module 2 Module 3 Module 4 Review the individual companies people we covered in the text and PPT s and how they maintain strategic focus Module 5 Understand the concept of executional excellence Understand and be able to explain all module learning objectives Understand the components of executing excellence and the concepts behind them Review the individual companies people we covered in the text and PPT s and how they maintain strategic focus Module 1 Google Starbucks Facebook Disney all sustaining success Drivers of sustainable success Generosity strategy focus executional excellence control of destiny trust based relationships investment in employee success acting small brand cultivation Challenges to sustaining success Retaining the same initial entrepreneurial spirit as a younger smaller company Starbucks Operating effectively while competing on price McDonalds Operating effectively while growing rapidly Boston Market Objectives Keeping customers and employees happy year after year while Sustainable Success being financially successful year after year Companies stay focused on service during years of rapid growth by making efforts to improve maintaining work ethic continued enthusiasm Balancing Growth with Execution 1 Maintaining high standards in hiring and training Ex Facebook looks for two things raw intelligence to adapt and learn quickly and second alignment with what they are trying to do 2 Create value through performance business professional paying to get their clothes dry cleaned 3 Ability of performers to sell promises and then keep those promises Ex Old Dominion Freight lines no matter what is shipped it is a promise they ll keep 4 Gaining customer confidence 5 Superb execution of service day after day Ex Walt Disney Wow experiences consistently Execution vs Price In a competitive market strengthening service execution is more important to sustaining success Comcast has a lot of kinks vs DirectTV much more reliable covering etc Maintain an entrepreneurial spirit when becoming mature Inspired service providers are most likely to invest the personal energy and endure risks of improvement seeking as well as identifying better ways to perform their service and speak up when they see their company going in the wrong direction Cleveland Clinic s way of innovation continued development of new treatments devices and new discoveries Ex Star bucks innovation does not embrace the status quo ex Reinvention of instant coffee Achieving sustainable success 1 Business must be able to excite providers and customers ex Southwest airlines emphasizes a fun atmosphere man uses an accent to show the flight safety information 2 Businesses must have a strong strategy for providing commitment ex Penn Foster College s distance learning school ex John Deer committed to the land and their customers 3 Businesses must have policies based on service NOT on economic thinking ex Zappos focuses on repeat customers and word of mouth focus on the call quality rather than the volume no sales based performance goals 4 Businesses must have strong institutional values allowing for maximization of employee potential ex Microsoft Ireland s empowerment movement provides support for their passions help them help others innovation Volunteer program for their employees to give back to any organization they are interested in ex Reebok empowers employees to be fit for their life and for their careers fitness events reebok cross fit From the book 14 companies Bergstrom Hotels the Charles Schwab corporation Chick Fil A Custom Research Inc Dana Commercial Credit Dial A Mattress Enterprise Rent A Car Midwest Express Airlines Miller SQA Special Expeditions St Paul Saints Ukrop s Super Markets USAA The companies talked about all have a high labor component in their services companies of various sizes Woman seeks out container store employee on a full flight to deliver her husbands wallet she trusted the container store employee because she knew the company chooses their employees only if they have the same values Execution vs Growth ValutJet Execution vs Price Telephone company layoffs result in slow service and end up costing millions Entrepreneurship vs Maturity Holiday Inn had worn out hotels that resulted in damaging their reputation Sustaining success in services Values Driven Leadership Module 2 Values driven leadership teaching the company s values through deeds and words spreading them throughout the organization reinforcing them at every turn Ex Chick Fil A putting principles and people before profits family operated and private closed on Sundays commitment to employees to allow them to spend time with family Ex Amazon customer obsession frugality ownership bias for action high hiring bar innovation on a GLOBAL level the man in the video gives an example on frugality Common company core values Excellence Innovation Teamwork Respect Integrity social profit Excellence Ex wholefoods instills the value of excellence in their