Value Creation and Innovation in F&B

MODULE DESCRIPTION

 

Value adding is a key driver in today’s hospitality and restaurant business. Besides satisfying customers and having happy employees, a hotel manager must add value to the bottom line of its operation. The owners expect a return on investment and a certain level of profitability and this can only be achieved if managers know how to monitor their operations and control costs.

Managers must be experts and acrobats in taking financial decisions, very often with only limited information and resources, and still be able to forecast the consequences of their choices. Mastering figures will give managers the competitive advantage and will put them in a position to influence the bottom line of their operations.

 

LEARNING OBJECTIVES

 

By the end of the Module, participants will be able to:

Knowledge:

• Identify KPIs (Key Performance Indicators) for profit maximization

• Explain standard procedures for controlling cost and improving revenue

Competencies:

• Use profit tools and techniques like budgeting, ratio analysis and CVP (Cost Volume Profit) analysis

• Establish standard procedures for all phases of the F&B cycle— purchasing, receiving, storing, production and service

• Apply cost control techniques and use KPI analysis in F&B operations

Mindset:

• Develop and improve decision-making skills

• Adopt proactive approaches to problem solving

 

METHODOLOGY

 

Problem based learning with the use of real industry examples with case studies.

 

PARTICIPANTS

 

Middle management executives in the food service industry, including restaurant operators, cost analysts, cost controllers and income auditors

 

MODULE LEADER