HM 316 Lecture Notes - Lecture 7: Strategic Planning, Needs Assessment, Expectancy Theory

• School: JMU
• Department: Hospitality Management
• Course: HM 316
• Professor: William Frye

Document Summary

Smart goals: specific, measurable, acceptable (achievable, realistic, timely (time bound) Benefits to strategic planning: examines where the club is presently or where it should be, allows the club to define its future direction, provides a consensus direction that can be measured and evaluated. Levels of strategic planning: club strategic planning, functional strategic planning, operations strategic planning. Identifies what the club is about, its purpose, and where it is heading: must be connected with club operations, mission, goals, objectives, organizational situation analysis (swot, strategy statement, budgets, action plan, assessing progress. Setting the ground rules for strategic planning: encourage active involvement, solicit different points of view, probe issues, manage conflict. How decisions are made in private clubs: authority, majority, minority, unanimity, consensus. Swot analysis: strengths (external, weaknesses (external, opportunities (internal, threats (internal) Strategies for clubs: surplus maximization, usage or targeted maximization, full or partial cost recovery, budget maximization, member satisfaction maximization. Club budgets: normal capital budgeting, project capital budgeting, operations budgeting.