Choose a food and beverage based operation. Then, select and justify two different measures of operational performance related to the F&B operations.
Paper instructions:
* First choose a food and beverage (F&B) based operation from the UK, Europe or World (the more specific you are the better i.e. not just restaurant but type of restaurant and the name of a specific restaurant. You can choose any foodservice operation or flight caterer or prison food provision.. ). Then, select and justify two different measures of operational performance related to the F&B operations, using the literature as appropriate, that you feel would provide you with the information you need to allow you to manage that operation effectively. So not just what the measures are and details of how they would be calculated but why they are particularly relevant to the operation you have chosen. The measures should allow you to control the operation and so should be operationally focussed and not the sort of ratios you might be using in Business Finance. You do not need to calculate measures. Just explain why you have chosen them and how they allow you to manage the F&B operation effectively. Do ask when this isn▓t clear.
-You don’t have to calculate, just show how to calculate.
-Explain why that measure is important for you as a manager.
-First paragraph about restaurant: name, location and so on.
-Pretend you are the manager of the restaurant. Net profit (operational, not financial!) put formula (how and where did you get)
-Do not forget to put references of formulas.
-you should also include: how many restaurants are in the same competition?
what is your USP (unique selling points)? is it easy to imitate?
What are the barriers to entry?
What are the barriers to exit?
What is the economic climate like?
*Do not forget to reference as Harvard style!
*I will attach lecture slides which will help you for the writing. In slides, Warning (Important) signs are related to the essay.
*I will also attach references for you which will help to you as a resources.
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