HADM_106_Finalexam_Review

HADM_106_Finalexam_Review - Lecture 8 Marketing Money The...

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Lecture 8: Marketing Money: The P&L A restaurant is a set of organized systems and processes designed to transform input into output. 1. Why are controllable expenses called controllable? a. They can be managed by the administrators and changed to increase the bottom line profit. 2. Why as a manager would you not want your net profit to be based upon net profit after taxes? a. You would be getting a much smaller % than if you bonus was on profit before taxes. Also, you cannot control the amount that taxes take out and should not be penalized for the government tax rates. Tax rates are usually very high 3. What is under “direct operating expenses” ? a. China and Glassware, Cleaning supplies, Paper Supplies, Auto Expenses, Laundry, Kitchen Fuel. 4. What must you do with the value of employee meals before you compute your food cost? a. You must subtract them from the total amount which will be your food costs. You need to subtract food consumed byt not sold. 5. What is prime cost? What usefulness does this measure serve a. Prime cost is food cost, beverage cost, and labor cost all into one. It is the bulk of the cost and usually is around 60%. 6. Word of Mouth Advirtising 1 | P a g e
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a. High credibility, two way communication, vicarious learning, application to www. Additional Information on Lecture 8 1. A Manager controls a. Cost of Gods and Controllable expenses i. Examples: 1. Payroll 2. Benefits 3. Direct Operating 4. Music and Entertainment 5. Marketing 2. 3. A Owner Controls a. Occupation Costs b. Depreciation c. Interest 4. A Guest Controls a. Sales. 5. Difference between food consumed a. Comped Meals, subtract from food cost b. Food Sold: Meals that were actually sold. 6. Food Cost… 30%? 2 | P a g e
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Lecture 9: Operating Delivery System 1. Why is service difficult to manage? a. Too many variables, hard to hire thousands who are predisposed to it. 2. What are the two sides or aspects to good service? a. Many different Aspects i. Procedural Aspect 1. All technical steps required to deliver the service, SOP, standard operating procedures. ii. Convivial Aspect 1. Empathy side, harder to specify. Possible to script but must remain authentic. 2. 49% 51%. 51% Friendly. Procedural aspects can be taught. 3. Any Successful service recovery Strategy has two components, what are they? a. Service Recovery i. Psychological 1. Esteem, empathy ii. Tangible 1. Correct a problem with a concrete action. 4. What is a supply Chain? How short or long can it be? a. Unified effort by a team of people from conception to consumer acceptance to integrate the processes and intermediaries necessary to deliver all the 3 | P a g e
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goods and services needed by internal customers at the right quality , at the right price point, and at the right time. b. It can be as short as the kitchen, as long as continents.
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