The valuation of fast-food outlets : analysis, methodology, and reliability

Fast-food outlets are a significant subsector of the hospitality and tourism property market in Australia, and have experienced significant growth and global change in the past 20 years. However, little attention has been given in professional and academic literature to the valuation methodology and analysis of these properties. This article proposes a working definition of a fast-food outlet, traces recent changes in the structure of the fast-food industry, investigates the major determinants of value with respect to asset value, and examines to what extent these have changed. In particular, it isolates the role of goodwill in assessing going-concern value.

The valuation of fast food outlets in Australia : methodology, analysis and reliability

Fast food outlets are a significant sub sector of the Hospitality and Tourism Property Market and a specialized form of business. This form of hospitality outlet has experienced significant growth and change in the last 20 years. Their value as an asset is therefore of significant interest to many involved in the tourism and hospitality industry, not least fast food operators or potential operators and their financiers. However, little attention has been given in professional and academic literature to valuation methodology, the analysis of the major components of asset value, and the underlying factors which influence asset value. As such the reliability of the valuation process could justifiably be questioned.
This paper sets out a working definition of a fast food outlet. It investigates the major determinants of value with respect to asset value and examines the accepted methods of valuation of fast food outlets in Australia as well as establishing the methods most commonly used. It clarifies the major components of asset value and examines to what extent these have changed with the changing business environment. In particular it isolates the role of Goodwill in assessing Going Concern Value. Sources of data include a comprehensive literature review and personal interviews with professionals involved in the valuation process. The paper concludes that an efficient valuation process requires that fast food outlets be considered as both a real estate and business investment. The contribution of both tangible and intangible assets to the value of the asset must be identified.

Beyond Abrahamism : a fresh reading of the Tanakh traditions respecting Lot, Moab and Ammon

At the heart of this study is my interest in the way in which a religious community establishes its sense of identity and its boundaries in relation to other groups. I explore the case of Israel's attitude towards her eastern neighbours, the Moabites and Ammonites, as portrayed in Tanakh, the Hebrew Bible. Most commentary from the last one hundred years privileges one particular view of Moab and Ammon as traditional enemies of Israel. I aim to show the validity of readings of the biblical accounts that reveal a more complex relationship between Israel and her neighbours. Tanakh exhibits a dialectic between eirenic and hostile viewpoints. The stories of Abraham and Lot, who are presented as ancestors of Israel and of Moab and Ammon, to some degree represent Israel’s understanding of her neighbours. Conventional commentaries take for granted the accepted orthodoxy of Judaism, Christianity and Islam concerning Abraham and his significance in terms of faith and righteousness and blessing and covenant. As none of these notions is specifically linked to Lot at any point, he is treated as a pathetic figure and remains secondary in conventional commentary. Many commentaries denigrate the character of Lot, often in direct comparisons with Abraham. My reading of the texts of Genesis attempts to free the story of Lot from the constraints imposed by the way the story of Abraham functions. A careful reading of the Genesis account shows that Lot and Abraham exhibit similar elements of moral ambiguity, and Genesis contains no statement that condemns Lot on moral or religious grounds. Genesis 19, the single narrative in which Lot appears independently of Abraham, participates in the dialectic elsewhere in Tanakh. On the basis of a consistent pattern of action and speech throughout the first portion of Genesis 19, I advance my own original conception of the eirenic viewpoint of the narrator concerning Lot and his relationship to the divine. I attempt to demonstrate ways in which the story of Lot critiques or deconstructs the dominant ideology centred upon Abraham. My conception of the particular interests of the compiler of Genesis 19 is supported by several intertextual studies. These include the traditions of Sodom and of Zoar, the story of hospitality in Judges 19, the story of the deluge (Genesis 6-9) and stories of women who, like Lot’s daughters, act to continue the family line. In a treatment of the history of Lot traditions, I find evidence to separate the story of Lot from the work of the Yahwist. I consider whether the stories of Lot have a derivation east of the Jordan and whether the stories were of particular interest to the Deuteronomists. In the final chapter of this study, I focus on the main themes of the narratives concerning Lot and Abraham, and Moab and Ammon and Israel. The question of social boundaries arises in regard to many of these themes, such as the interaction of female and male, the role of wealth, the relation of city and country, kinship, and rights to land settlement. In this way, the treatment of Lot and Abraham in Tanakh and in subsequent traditions offers a perspective upon the formation of identity in the contemporary world of religious plurality.

Marketing across cultures : an investigation into place specific dimensions of service quality in sport

Abstract The purpose of this study was to identify place-specific dimensions of service quality in spectator sport settings and determine if the importance of these dimensions differed across cultures. The study was limited to the soccer industry and involved the collection of responses from identified soccer spectators to a range of items presented in a survey instrument. The survey was distributed to respondents face-to-face on a match day of the club they supported, or mailed to their home address. Responses were obtained from spectators from two clubs from Australia (n=277), one club from the USA (n=199), one club from the Netherlands (n=245) and one federation from Malaysia (n= 100). Based on the findings of a number of authors, six categories of potential place-specific dimensions of service quality in spectator sport settings were created and the research instrument contained a number of items that could be categorised under one of these headings. These categories were Home, Religion, Social facilitation, Sensory, Uncertainty of outcome, and Personal attention. In this thesis it was assumed that place-specific service quality issues are similar for sport spectators of different cultures, although differences in degree of importance of these dimensions (etic approach) were likely to emerge. In other words, although it was expected dimensions per country to be similar, differences in degree of importance of these dimensions were expected. Given the lack of confirmatory statistical evidence pertaining to the specific country samples, it was concluded that differences per country are likely to be more than just differences in degree. Both the overall structure and structures per country could not be confirmed, and hence the conclusion was drawn that differences in nature between the countries were present. In other words, what is a dimension of place-specific service quality in one country is not necessarily a dimension in another country. The results of a content analysis of ‘core component’ structures per country compared with a (full sample) core component structure delivered six components (referred to as place-specific dimensions of service quality) that were defined as Home, Hedonist, Religious follower, Safe atmosphere, Hospitality and Personal Attention. It was found that in most cases the cultural orientation of soccer spectators reflects the cultural orientation of the country as a whole as proposed by Hofstede (1991). However, in line with Huntington (1997), it was also argued that grouping people based on their country of origin as a proxy for their cultural orientation, will increasingly lead to flawed and incomplete research findings. As noted by Yoo etal. (1999), the identification of a person's cultural orientation is likely to deliver more direct results when measured at the individual level In that regard it is concluded that it may seem prudent to view Hofstede's dimensions of culture with increased conceptual scrutiny. Although having been replicated in multiple studies, it becomes increasingly unlikely that Hofstede's dimensions cover the complete spectrum of an individual person's cultural orientation. In conclusion, this study identified that soccer spectators (from a number of clubs) from Australia, the USA, the Netherlands and to a lesser extent Malaysia, perceive a range of place-specific service quality dimensions in spectator spoil settings to be important when visiting a soccer match. Before research into satisfaction with and value of place-specific dimensions of the spectator sport service product is initiated, it is pertinent the identified dimensions are further explored and confirmed in different country (culture) settings. The confusion that still exists about the place of the value concept (in relation to quality and satisfaction), where Holbrook (1994) defines quality as a type of value and Chelladurai and Chang (2000) argue that value is a type of quality, further underpins this necessity. It needs to be clear what are the targets of service quality before this information is integrated in larger holistic research frameworks. In the final section of the thesis a conceptual model for international services marketing research in the sport industry was presented as a first attempt to integrate the findings of this research and other researchers.

Enhancing hotel managers’ organisational commitment : an investigation of the impact of structure, needfor achievement and participative budgeting

This study investigates the role of decentralised structure and managers’ need for achievement as antecedents of participative budgeting, and the impact of the concurrent relationships of all three preceding variables on organisational commitment. Ninety-one managers from the Australian hotel industry participated in the study and data were analysed using path analysis. Direct and positive relationships were found between the two antecedent variables: decentralised structure and managers’ need for achievement, and participative budgeting. Participative budgeting, in turn, was found to have a direct and positive relationship with organisational commitment. The results of the study have implications for the design of effective management control processes and for human resource management of hospitality organisations.

Facilitating and integrating learning within sport studies cooperative education : exploring the pedagogies employed by students, academics and workplace supervisors

Using an interpretative case study methodology, the pedagogical approaches used to facilitate and integrate student learning in cooperative education programmes in sport studies were investigated. This research drew from two New Zealand university cohorts and involved six focus group interviews. Findings suggested there were limited direct explicit attempts to integrate on- and off-campus learning. Integration was implicitly or indirectly fostered, principally by reflection through assessments (e.g., journals, reports), and primarily consisted of reflection-on-action (Schön, 1991) after the learning activities. Significantly, the integration of learning also consisted of reflection on personal growth, rather than critical reflection on theory or organisational practice.

Placing parks on the tourism agenda : promoting Melbournes' metropolitan parks to metropolitan and regional Victorian visitors

This study establishes a strategy aimed at raising interest in visiting Melbourne’s metropolitan parks based upon interviews and focus group responses in both regional Victoria and Melbourne. As the majority of regional visitors planning a short-break collect their information prior to departure, park information needs to be available before they embark. Whilst visiting Melbourne, regional visitors agreed that they would utilise local knowledge of their host to fill any of their limited spare time. Melbournians should be seen as a potential prime source of information for visitors, but this study found that many Melburnians were often unaware of local attractions. Consequently, part of the strategy to raise interest in visiting Melbourne’s parks must be targeted at Melburnians. This leads to the conclusion that a well informed host is the key to increased visitation
to metropolitan parks.

Impediments to improvements in service quality in luxury hotels

Purpose – The purpose of this article is to identify the key factors that impede service quality delivery in the context of luxury hotels (four- and five-star properties) in Sydney, Australia.

Design/methodology/approach – The empirical dataset for this qualitative study was collected through 22 individual semi-structured interviews with senior hotel managers of ten luxury hotels in Sydney, Australia. The technique used for analysing the data was progressive comparative analysis, after which constant comparative methodology was applied. The key themes emerging from these techniques have been categorised to form conclusions.

Findings – Analysis of the data revealed a number of impediments to developing and maintaining distinguishable, superior service. These impediments fell into four broad areas: Budget constraints, Staff attitude, Lack of mentoring and High customer expectations.

Research limitations/implications – The limitations with the current study are primarily related to the scope of the research in terms of the number of hotel properties participating, and the fact that it incorporates the views of managers only. Furthermore, the focus of this study was on the hotel sector, and thus the findings cannot be accepted as being necessarily relevant and applicable to services across the tourism/hospitality industry as a whole. Future research needs to be conducted to incorporate the views of all stakeholders in service quality, including non-management staff and customers.

Originality/value – The findings of this research can inform hotel sector researchers and practitioners of identified impediments to service quality, whether current strategies are addressing these impediments and, if not, how strategies may be modified to address to achieve this.

Tourist benefits research : old and new issues and uses in a cultural tourism context

Benefits sought and gained by tourists are relevant to developing tourist markets for cultural attractions and experiences as this paper will demonstrate. The main objectives of this paper are to identify benefit variables commonly used in tourism marketing, their purpose of use, and associated issues by reviewing existing empirical research of tourism benefits and specifically examining the applications to date in cultural tourism contexts. For the benefits most commonly found in tourist benefit research and of relevance to tourists’ cultural experiences, a benefits typology from the allied area of leisure (Driver & Bruns, 1999) is applied to categorise these benefits and develop a conceptual typology for consideration. Research propositions for future research of tourists’ cultural experiences are also proposed including new uses for benefit variable dimensions.

The future of diversity and difference : can the national curriculum for English be hospitable?

This chapter explores the context of constructing the Australian Curriculum: English and how it represents and responds to the diversity of students. It starts with the brief genealogy of neoliberal standards-based reforms as a way of managing differences. In doing so, the chapter situates the national agenda of curriculum reforms in the semiotic order of ‘risk societies’ (Beck, 1992) through which various risks are both manufactured and managed. The semiotic order of managing educational risks through reforms is presented as a discursive force-field that both creates ‘moral panics’ and provides solutions, thereby appealing to the broader public and securing its consent. This discussion prepares the ground for the reading of texts produced in the lead-up to the actual release of the national curriculum for English and statements about diversity in these documents as well as in the curriculum itself. The chapter then goes on to explore what might be possible in the process of the curriculum implementation, by drawing on ideas of hospitality, responsibility and dialogism. In conclusion, this essay argues that no national curriculum can be successfully implemented unless it is sensitive to the textual and cultural practices of other groups and unless it wins their political consent. Equally, no national curriculum can be ethically implemented unless it recognises and responds to difference and unless it creates a possibility of transcending the logic of the Same.

Learning from sustainable landscapes of death in Bali : landscape planning and Tri Hita Karana

Landscape planning in many countries is predicated upon on fulfilling the functions for human living objectives. Many land use practices have been plotted for living, busines~, trading, industrial, farming as well as providing places for dead people primarily through cemeteries. Research in Palm Beach County, FL, has demonstrated the need to plan for 30 years of demand of land use functions to service death (Coutts, Basmaj ian et al. 20 I I). Coutts et al assert that planners are required and responsible for the planning of funeral necessities. Therefore, the protection of landscapes of death is an important consideration in the planning of landscapes. Bali is popular with its beautiful landscape, hospitality, and traditional architecture as demonstrating the integrity between human, environment and God, as expressed in the Balinese Tri Hita Karana concept. Balinese commemorate life from birth to death through their traditional ceremonies which informs their traditional cultural landscape. One of the most important landscapes, which cannot be separated fi·om Balinese life are graveyards which are used for deceased ceremonies. This landscape is an integral part of traditional village patterns across Bali. Culturally, Balinese people have their own traditional cremation ceremony which is call the Ngaben Ceremony. The Ceremony takes place in graveyards and thereupon ashes are placed in the sea waters surrounding Bali. An interesting point of planning in Bali is how to enable eco-friendly interment extensions to villages. This is occurring because of the increasing number of corpses that require cremation thus necessitating no accretions in land provision of graveyards. This research investigates the landscape of death in Bali expressed in its traditional values in the area of planning which implicate sustainable environments and land conservation topics. Other functions of graveyards, as noted by Strangstad ( 1988), include ceremonial and their role as educational tools for history lessons, art, sociology, geology, English lessons, as well as for scavenger hunts.

Powerlessness following service failure and its implications for service recovery

This research examines whether service failure in hospitality settings reduces situational power and whether feelings of powerlessness have implications for service recovery efforts. Three studies demonstrated that service failure reduced consumers’ situational power, but only among those with high dispositional power motivation (studies 1 and 2). Moreover, those with high dispositional power motivation evinced greater satisfaction with service recovery efforts that involved status-enhancing compensation as opposed to utility-enhancing compensation (study 2), and when status-enhancing compensation was presented in public as opposed to in private (study 3). These findings suggest that consumers with high dispositional power motivation prefer service recovery attempts that counteract the feelings of powerlessness they experience from service failure. Service managers can benefit from these findings by understanding how feelings of power interact with service recovery efforts.