Chapter 3 - Factors Affecting The Success Of H&C Providers

Question 1

What are the various factors used to measure the success of a buisness?

Answer 1

• Profit
• Customer Satisfaction
• Employees
• Competition
• Development

Question 2

Gross profit (GP)

Answer 2

The difference bewteem how much the indgredients cost and how much a menu item is sold for.

Question 3

Gross profit percentage (GP%)

Answer 3

The profit of the selling price of a dish (made as a percentage).

Question 4

Net profit

Answer 4

What is left from the gross profit after all the costs of running a restaurant have been paid for (wages, heating, lighting, rent, etc).

Question 5

Trends:

Answer 5

A trend means the direction in which something is developing or changing. A buisness should he aware of and keep up with trends which will directly affect their success.

Question 6

An example of a continually developing trend:

Answer 6

ICT which has grown rapidly with the development and use of social media, smartphones, and other communication devices.

Question 7

Media?

Answer 7

The tourist industry uses social media, televison, and films to promote tourism throughout the world. This has greatly benefitted the H&C ind, which has developed along side it.