HSP M 101 Lecture Notes - Lecture 7: Operations Management, Balance Sheet

• School: Iowa State University
• Department: Hospitality Management
• Course: HSP M 101
• Professor: carolineebert

Document Summary

Management begins in the parking lot and ends in the bathroom . 5 check back (two bites of the entr e) 6 ask if guest would like another drink. Food is prepared and plated in kitchen (beyond an order taker . Final preparation and presentation of the food occurs at the table. Russian: food is cooked and placed on serving platters. Suggestive selling- tool used to increase food/beverage sales. # of guests * average check= forecasted sales. Used to determine staffing/labor costs purchases other expenses profit. -leads to respect, positive work environment, higher quality product. All areas that do not have direct guest contact cook vs chef. Purchasing systems: minimize loss product specifications par stock & reorder levels buying. Balance sheet: assets and liabilities- used to verify financial health. Income or operating statement: not income sales cost = gross profit gross profit other expenses = net income. Food cost % = cost of food sold/food sales.