Chapter 1 Flashcards
Trends
general developments or movements in a certain direction in an industry that must be reflected by changes in the industry
Entry Level
beginning jobs that require no experience
Non commercial operation
Operations such as government, schools, and hospitals
Commercial operations
Fast food chains and fine dining that can turn a profit
Quick Service
est. that quickly provide a limited selection of food at low prices
Full service
Servers take customers’ order. Brings food to table
Fine Dining
upscale atmosphere
Certification
proof of expertise
Apprentice
works under the guidance of a skilled work to learn a trade or art
Entrepreneur
self motivated person who runs a business
Independent Restaurant
has one or more owners not affiliated with national name or brand
Chain Restaurant
has many individual restaurants that all have the same atmosphere, service, menu, and quality of food
Franchise
company sells rights to name, logo, concept and products
Overhead cost
costs of food and labor
Business plans
a document that outlines specific info including vision, goals, and strategies
Marketing
Process of promoting goods and services
Sole Proprietorship
a business that only has one owner
Partner
a legal associate of two or more people who share ownership of a business
Corporation
a state grants an individual or group a charter with legal rights for enterprise
Free Enterprise
business may buy or sell with little gov’t interference
Zoning
divides land into sections
