fourseasons-091105174236-phpapp02
TRANSCRIPT
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The first Four Seasons Motor Hotel on Jarvis Street in Toronto which opened in 1961.
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58 HOTELS
28 COUNTRIES
ONE PHILOSOPHY
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FOUR SEASONS TEAM
EMPLOYER OF CHOICEEMPLOYER OF CHOICE
!Sixth consecutive year on Fortune�s list of 100 best companies to work for in America.
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Trust and Profit
� Empirical connection has been shown between �trust� and profitability (Harvard Business Review �9/2002)
� Where employees believed their managers followed through on promises and demonstrated the values they preached, hotels were substantially more profitable��.
� A one eighth point (on a five point scale) improvement in a hotel�s score translated into a 2.5% increase in profitability as a percentage of revenue��.
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Foundations of Trust in the Workplace
� Clear, consistent business strategy� Credible, consistent values� Committed management� Coherent systems (Seven S model)� Convergence between claims and actions� Communication� �FACTA NON VERBA�
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Clear, Consistent Strategy
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FOUR STRATEGIC DECISIONS
1. Focus on Single Segment 1. Focus on Single Segment
� to manage only medium size hotels of exceptional quality, designed and operated to be the best hotel in each location.
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FOUR STRATEGIC DECISIONS
2. Focus on Service2. Focus on Service
� A redefinition of luxury
� Highly intuitive, personalized and comprehensive service
� Customer-employee contact became the most meaningful working relationship
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FOUR STRATEGIC DECISIONS
3. Cultural Foundation3. Cultural Foundation� Instilled a set of Core
Values
� Mission Statement based on the Golden Rule
� Value system enforced without exception, beginning at the top
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FOUR STRATEGIC DECISIONS
4. From Hotel Ownership to Management Services
4. From Hotel Ownership to Management Services
� Redeployment of assets
� Investment in management expertise � selection, training and motivation
� Brand reputation more valuable than bricks-and-mortar
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The first Four Seasons Motor Hotel on Jarvis Street in Toronto which opened in 1961.
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22
3745 50
6071
82
020406080100
1989
1996
1999
2000
2002
2004
2006
Adding Locations
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Unit Growth - Worldwide
58 Existing (43 hotels; 15 resorts) 20 Planned (12 hotels; 8 resorts)
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Geography - 1996
2111
41 North America
AsiaEuropeLatin merica
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Geography - 2004
34
16
13
10
6
North AmericaAsiaEuropeMiddle EastLatin America
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9000
2100023000
26800
32000
37000
0500010000150002000025000300003500040000
1989 1996 1998 2000 2002 2004
`
Adding People
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OUR FUNDAMENTAL BELIEFS
�Ours is a strategy for growth that is based on our fundamental beliefs: that quality has inherent value; that sound business is rooted in trustworthiness; and that most people, when treated fairly, respond in kind�
Isadore Sharp, Chairman, Founder & CEO
�Ours is a strategy for growth that is based on our fundamental beliefs: that quality has inherent value; that sound business is rooted in trustworthiness; and that most people, when treated fairly, respond in kind�
Isadore Sharp, Chairman, Founder & CEO
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Credible, Consistent Values
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Issy Sharp showing his �hands on� style of management on the construction site of the Four Seasons Motor Hotel
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Our Goals, Our Beliefs, Our Principles
Who we are We have chosen to specialize within the hospitality industry, by offering only experiences of exceptional quality. Our objective is to be recognized as the company that manages the finest hotels, resorts and residence clubs wherever we choose to locate.
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Our Goals, Our Beliefs, Our Principles
What we believe Our greatest asset, and the key to our success, is our people. We believe that each of us needs a sense of dignity, pride and satisfaction in what we do. Because satisfying our guests depends on the united efforts of many, we are most effective when we work together cooperatively, respecting each other�s contribution and importance.
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Our Goals, Our Beliefs, Our Principles
How we behave We demonstrate our beliefs most meaningfully in the way we treat each other and by the example we set for one another.In all our interactions with our guests, customers, business associates and colleagues, we seek to deal with others as we would have them deal with us.
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Our Goals, Our Beliefs, Our Principles
How we succeed We succeed when every decision is based on a clear understanding of and belief in what we do and when we couple this conviction with sound financial planning. We expect to achieve a fair and reasonable profit to ensure the prosperity of the Company and so offer long term benefits to our employees, our customers, our business partners and our shareholders.
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THE GOLDEN RULE
!A universal ethic transferable to any culture
!A lasting competitive advantage
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Committed Management
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DEFINITION OF COMMITMENT
Commitment . . .
�being obligated, or emotionally impelled�
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OPERATING PHILOSOPHY
Our culture drives
everything we do
!Strict adherence to operating philosophy is the key to the Company�s success
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FOUR SEASONS TEAM
� Average length of service� Corporate Executive Team - 22 years� General Managers - 17 years
� Loyalty, commitment and experience of long term staff is key to our success
� Leadership group with considerable experience
� Promotion from within
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Coherent Systems
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We are in the �Service� Business
� �Service� is What our people do and How they do it when interacting with others (clients and fellow employees)
� �What� and �How� are definable Human Behaviors� Based on Attitude, Knowledge and Skill
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EXCEPTIONAL SERVICE� Friendly, attentive, around the clock
support� Above and beyond the call of duty� Consistent service delivered everyday,
around the world, year after year��..
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RECRUITMENT
SELECTION
REWARDS &RECOGNITION TRAINING
DEVELOPMENT& SUCCESSION ORIENTATION
PERFORMANCEMANAGEMENT
Building People Power
PROMOTION/TRANSFER
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Selection
� Align with strategy� �Attitude� comes first� Define required key competencies� 4 Stage Interview process� �Behavioral Interviewing"- Based on defined
competencies
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Training
� Align with strategy� On-Line (Standards)Program � Designated Trainers� Customer service skills � Emphasis on "Culture� throughout� Coordinated efforts
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Performance Management
� Align with strategy� Identify key "Competencies" � "Good At" - not simply "Good Person�� Assessment starts early and never ends� Provide actionable feedback � Do it in time to make a difference� Potential assessment � Goals/processes/measures� Do it in time to make a difference
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Development
� Align with strategy� Succession Planning� "Next Step" � Task Force Work� Planned Global Exposure� Multi-Ethnic Talent
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Some key system components
� Goals, beliefs etc (Mission and Values Statement) � Operating Standards � Quality and depth of management� Behavior based interviewing� Orientation process/materials (consistent; multi-
lingual) � EmPact (employee handbook as a contract)� On-Line (Standards) training� Designated Trainer role� Employee Opinion Surveys� Management Opinion Surveys
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Some key system components
� Integration with performance management� Integration with career management � Integration with incentive plans & goals � Regular visits from/contact with Senior Management � Open Door (inbound and outbound) � Service Quality External Audits (against standards) � Rapid response teams (glitch & crunch)� Personal response to complaints within 24 hours
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Convergence between claims and actions
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TODAY�S CHALLENGES
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�Even as some hard�Even as some hard--hit luxury hotel hit luxury hotel chains are cutting service during the chains are cutting service during the
recession, Four Seasons stands out for recession, Four Seasons stands out for the quality of its staff and the the quality of its staff and the
exceptional lengths it goes to in the exceptional lengths it goes to in the name of Service�name of Service�
Worth Magazine � August, 2002
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What People hear (the Claims)
� Pre-employment positioning/advertising� Orientation program content (usually in �pep� form) � Pre-prepared, professional and upbeat information � Positive opinions and experiences of fellow
employees� The basis of Hope and Expectation
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What people see (the Actions)
� Who gets to join� Who gets to stay� Who gets to do the training � Who gets promoted� Who is chosen to lead key initiatives� Who gets off with what � Who is required to leave and why� What happens in tough times� These make clear "What we stand for�� The basis of effectiveness, culture and Trust
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Communication
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Orientation
� Align with strategy� Adequate lead time � Emphasis on Attitude, Service, Teamwork � Consistent global approach � Multi-lingual "Culture" Film� Heavy management involvement & "buy-in�� Re-orientation as needed
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SERVICE CULTURE
� Cycle of challenge, teamwork, accomplishment
� Rewards and celebrations
� Commitment to excellence
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Employee Opinion Survey � Trust Questions
� I have confidence and trust in my Supervisor� Management gives me reliable and adequate
information about the Company � When Management in my hotel tells me
something, I believe it
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Performance Review - Trust Dimension
� Achieves the confidence and trust of superiors, peers and employees.
� Earns a reputation for fairness and approachability.
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Foundations of Trust in the Workplace
� Clear, consistent business strategy� Credible, consistent values� Committed management� Coherent systems (Seven S model)� Convergence between claims and actions� Communication
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The Tests of our Success
� How do our Employees feel?� How do our Customers feel?� How do our Business Partners feel?� How do our Competitors feel?
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FOUR SEASONS TEAM
EMPLOYER OF CHOICEEMPLOYER OF CHOICE
!Sixth consecutive year on Fortune�s list of 100 best companies to work for in America.
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