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From Flashcardlet > Business Ops Final > Flashcards

Business Ops Final Flashcards

0
Q

What type of restaurant involved the least financial risk?

A

Franchising and managing

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1
Q

What is thought to be the first restaurant in America?

A

Delmonico’s

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2
Q

How much does a 100-seat restaurant fully equipped cost per seat?

A

$6,000-$10,000

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3
Q

What does centralization do for order taking, food preparation, and accounting?

A

Decreases costs

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4
Q

What type of restaurant requires the food to be paid for prior to service?

A

Quick service

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5
Q

How many years does it take for a restaurant to become profitable?

A

1-2 years

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6
Q

What are three characteristics of a good business plan?

A
  1. Improves chances of operational success
  2. A written document to present to potential investors to obtain financing
  3. Assists in getting financing
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7
Q

What are the three elements of a mission statement?

A
  1. States what a business has to offer
  2. Goals, strategies and objectives
  3. States philosophies and values the business and employees will follow
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8
Q

Define fixed costs and give an example.

A

Cost unaffected by sales or volume. Rent, mortgage, taxes, insurance

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9
Q

Define prime costs and give an example.

A

Costs not to exceed 55-60% of sales. Labor, beverage, food

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10
Q

The matrix of ideas that constitutes what would be perceived as there restaurants image is called what?

A

Concept

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11
Q

40-50% of all customers arrive this way.

A

In pairs

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12
Q

What does D&B stand for?

A

Different and better

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13
Q

What is the difference between sales price and cost of the item?

A

Contribution margin

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14
Q

What insures consistency for a restaurant?

A

Standardized recipes

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15
Q

The matrix of ideas is devised to interest a certain group of people called a what?

A

Target market

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16
Q

List 3 factors that impact the price to value perception of the guest.

A
  1. Quality of product
  2. Consistency of product
  3. Consistent speed of service
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17
Q

List 4 factors in menu planning/creation.

A
  1. Operational limitations
  2. Needs/desires
  3. Availability of ingredients
  4. Standard recipes
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18
Q

Name 4 types of menues.

A

Lunch
Dinner
Degustation
Grand

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19
Q

The sum of the opening inventory+purchases-closing inventory equals what?

A

The cost of food consumed

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20
Q

Define par stocks

A

Reasonable amount of product you should always have on hand.

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21
Q

What is inventory and what does it represent to a food service establishment?

A

Product on hand, which is a storage of money that needs to be sold.

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22
Q

Define AP

A

As purchased

23
Q

Define EP

A

Edible portion

24
Q

What does kitchen planning involve?

A

Allocation of needs and equipment to keep flow of traffic to a minimum. Time, wasted product, accidents

25
Q

What are 5 steps of product flow?

A 
Receiving
Storing
Prep
Cooking
Plating
26
Q

What 3 things have to be taken into account in determining total equipment cost?

A
  1. Original purchase price
  2. Energy cost to operate
  3. Replacement of parts including maintenance
27
Q

What are 3 advantages of a FOH handheld system?

A
  1. Elimination of arithmetic errors
  2. Reduced labor costs
  3. Improved guest check control
28
Q

What is the outcome of great customer service?

A

Customer loyalty

29
Q

List the 7 steps of the complaint handling strategy.

A
  1. Diplomatic
  2. Listen
  3. Empathize
  4. Control of voice
  5. Get facts
  6. Remain clam
  7. Take care of problem immediately
30
Q

How many months working capital should be available at all times?

A

2 months

31
Q

What is FF&E?

A

Furnishings, fixtures and equipment

32
Q

What are the 4 steps in the marketing planning sequence?

A
  1. Marketing assessment
  2. Set goals
  3. Marketing matrix
  4. Evaluate and monitor
33
Q

What are the 3 most common marketing segmentation groups?

A

Demographic
Geographic
Behavioral

34
Q

What are the 3 pricing strategies? Define each.

A

Cost base- cost of all ingredients of an item and multiply by 3 to get 33%
Competitive- compare price of competition and set prices accordingly
Contribution- price set at a reasonable amount that contributes to gross but not net income

35
Q

Define current assets and give 2 examples.

A

Maturity of 1 year or less. Cash, inventory

36
Q

What is triple net lease?

A

A lease in which the leasee is responsible for all costs

37
Q

What does a balance sheet have on it?

A

All assets and liabilities

38
Q

Define fixed assets and give 2 examples.

A

Maturity of 1 year or more. Building, equipment

39
Q

What is the formula to calculate food costs%?

A

Costs\ sales

40
Q

List the 5 steps of the control process.

A
  1. Evaluate
  2. Actual productivity analyzed
  3. Check the variance between standards and productivity and evaluate
  4. Take corrective action
  5. Adjust if needed
41
Q

Profit is typically what percent of revenue?

A

3-9%

42
Q

What is USAR?

A

Uniform System of Accounts in Restaurants

43
Q

What is the simplest measure of employee productivity?

A

Productivity analysis

Sales by employee/set period of time

44
Q

What are the 3 main types of ownership?

A

Sole proprieter
Partnership
Corporation

45
Q

Define controllable expenses.

A

Expenses in the short run that can be adjusted. Payroll, utilities

46
Q

Money before the depreciation allowance is known as what?

A

Cash flow

47
Q

List the 5 steps of food production.

A
  1. Receiving
  2. Storage
  3. Food preparation
  4. Preparation procedures
  5. Standardized recipes
48
Q

What does HACCP stand for?

A

Hazard Analysis of Critical Control Points

49
Q

Define goal

A

Target

50
Q

Define strategy

A

A plan of how you are going to get to your goal

51
Q

What are the 3 key points needed for effective performance management?

A
  1. What is an employee to do
  2. How well are they to do it
  3. To what extent
52
Q

What is the most commonly used productivity measure and its formula?

A

Labor cost revenue

Labor cost/revenue

53
Q

What is the purest measure of productivity and its formula?

A

Guests served labor hours

Guests served/labor hours

54
Q

List the 3 main categories of employee compensation?

A

Direct
Indirect
Deferred

55
Q

List the two productivity measures that are unaffected by menu price and the formulas.

A

1.Guests served labor hours
Guests served/labor hours
2. Labor $ per guest
Labor $/ # of guests

56
Q

What 4 items are required to ensure quality and determine the number of staff to effectively operate?

A
  1. Menu
  2. Food prep methods
  3. Desired service level
  4. Quality of employee training

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