Term
What are some examples of Noncommercial Food Service Operations? |
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Definition
- Business Organizations
- Healthcare (hospitals, nursing homes)
- Educational Institutions (public & private)
- Private Clubs (country clubs; golf)
- Leisure & Rec Operations (bowling alleys)
- Transportation Companies (airplanes, trains, ships)
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Term
What is the purpose of a hotel restaurant and their characteristics? |
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Definition
They are an integral part of the profit plan at many properties.
Prime space such as lobby/atrium are often allocated to F&B.
Experienced chefs, high-quality food & beverage products have helped create a positive image. |
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Term
Advantages of Chain Restaurants |
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Definition
- readily acquire cash, credit, and long-term leases
- afford to make more mistakes; ability to experiment
- afford staff specialists
- generate internal fianancial info that can be used as a basis of comparison among properties
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Term
Disadvantages of Chain Restaurants |
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Definition
- difficult to keep up with changing markets & economic conditions
- as grow; lrg amount of paperwork, rules, & procedures can slow them down
- top mgmt may lose motivation to keep up, and what is best for the company might now always receive the highest priority
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Term
- Franchise
- Franchisee
- Franchisor
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Definition
- a special type of operation in which a facility owner pays fees to a franchisor in exchange for the right to use the name, building design, & business methods
- someone who owns a property & building & purchases the right to use a brand name for a specified period of time & at an agreed upon price
- someone who owns & manages a brand & sells the right to use the brand name
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Term
Food Service Trends
Commerical
Quick-Service
Casual Dining
Convenience Stores
Restaurants
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Definition
- home meal replacements continue to increase; ready-to-eat or ready-to-heat; supermarkets close-to-the-door for guests on the go
- new food & higher quality items; more creative marketing strategies
- more entertainment; total entertainment experience for guests
- co-branding; share space w/ a well-known quick-service brand
- comfort foods, ethnic-fusion, and more healthy food choices
- GREEN restaurants more popular; reduce energy usage & minimize waste
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Term
What is an organization chart?
What is it purpose?
What accounts for the difference between the organizational structures of small & large operations? |
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Definition
- a diagram showing the relationship among various employee positions in an operation
- they can help you better understand where and how the personnel positions fit into various types of organizations
- # of employees, degrees of specialization, and the # of organizational levels
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Term
What are goals of an organization structure? |
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Definition
achieve objectives
maximize profits, minimize expenses |
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Term
- What are top-level managers concerned w/?
- Middle managers
- Supervisors (linking pins)
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Definition
- long-term plans & goals
- shorter-term goals; key positions thru which communication flows up & down the organization
- represent higher levels of mgmt to employees; first level of mgmt; short-term goals such as preparing employee schedules & helpes employees through busy times
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Term
Line managers are...
Staff managers are... |
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Definition
- LINE: have authority within or over one or more revenue generating depts. that directly provide goods & services to guests.
- STAFF: provide support & advice to line managers; HR managers, controller, purchasing agent
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Term
What is a Chief Steward?
Duties? |
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Definition
- managers who typically oversee porters, dishwashers, and related personnel
- perform cleaning tasks to maintain high level of cleanliness & sanitation; janitorial & special cleaning; cleaning & storing china, glass, flatware
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Term
Food service compensation and benefits |
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Definition
- competitive; college graduates $40,000+, after 5 yrs. $75,000+
- fast-track operations in quick-service chains can easily become dept. heads w/ incentive plans
- benefit pkgs, health care & retirement plans; include tuition, vacation lodging, & meals-at-work reimbursements
- indirect benefit; geographic preference
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Term
What are the 7 basic activities of the Management Process? |
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Definition
- Planning
- Organizing
- Coordinating
- Staffing
- Directing
- Controlling
- Evaluating
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Term
Management Process
What is...
PLANNING
High-level
Intermediate
Lower |
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Definition
the management task of creating goals & objectives & programs of action to reach them.
- executives undertake sequence of planning to help determine F&B operation's goals & the best ways to attain them
- managers develop operational plans to attain short-term goals
- supervisory planning involves day-to-day process of running the operation
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Term
Factors in effective planning include: |
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Definition
- Information: must have access to complete information to plan effectively
- Communication: managers at all levels should communicate w/ eachother
- Flexibility: plans should be flexible
- Implementation: plans must be implemented to be effective
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Term
Management Process
ORGANIZING |
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Definition
involves establishing the flow of authority & communication among people
- make sure each employee has only one supervisor
- authority to make decisions about using resources should be available at the appropriate level
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Term
Management Process
COORDINATING |
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Definition
the management task of assigning work & organizing people & resources to achieve the operation's objectives
- depends of communication; open communication between dept. heads
- delegation important aspect; authority passed down
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Term
Management Process
STAFFING |
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Definition
involves recruiting & hiring applicants
- goal is to find the best-qualified employee
- make sure new hires get off to a good start; a well planned orientation program necessary to properly introduce
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Term
Managment Process
DIRECTING |
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Definition
task of supervising, scheduling, & disciplining employees. Supervising includes such functions as training & motivating employees.
**when supervising, managers should know how to motivate, inspire cooperation, give orders, and bring out the best in people; treat employees the way they would want their own boss to treat them
**find ways to mesh organizational goals w/ employees' goals **scheduling employees effectively is very important **discipline does not have to equal punishment; discipline is a way to address, correct, and reinforce behavior & help employees become productive members
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Term
Management Process
CONTROLLING |
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Definition
task of measuring actual results against expected results; safeguarding the operation's property & income
- begins w/ establishing a budget
- develop control systems to alert problems to them on a timely basis
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Term
Management Process
EVALUATING |
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Definition
task that involves determining the extent to which planned goals are achieved
1. review operation's progress toward achieving overall goals
2. measure employee performance
3. assess effectiveness of training programs
- must continually evaluate
- awareness of problem first step toward solving it
- managers must also evaluate themselves & their own performance
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Term
Managing for guests is challenging because...
What are the steps to making sure the guest is satisfied? |
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Definition
no two guests are the same!
1. address their needs by providing them w/ a clean, safe place to eat.
2. determine what guests want & need when they visit the operation.
3. once needs are determined, managers must try to meet them to build a loyal guest base that will ensure the continued success of the operation |
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Term
What is the main responsibility of a Hospitality Manager? |
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Definition
- first provide products & services that guests will enjoy
- train & supervise the staff to provide these products & services in a hospitable way that will encourage guest to return
- be a friendly manager who has concern for guests & who serves as an excellet role model, promoting an attitude of hospitality in the employees
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Term
What is a feasibility study?
When should it be performed? |
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Definition
a form of market research that analyzes the possible site, relevant demographic statistics, probable competitors, & projected financial success of a proposed food service operation.
before a proposed food service operation is constructed or an existing facility is purchased or leased. |
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Term
What is a property analysis?
What is it used for? |
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Definition
a written, unbiased apprasial of a food service operation's production & service areas, products, & services.
to assess strengths & weaknesses of the operation
IMPORTANT to think about the property from the guest's perspective. |
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Term
What is Competition Analysis? |
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Definition
should cover same categories listed in feasibility study
actually experience what the competition has to offer
visit competitor's operations at a variety of times |
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Term
Purpose of Target Markets: |
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Definition
impossible to be all things to all people
identify which major markets operation already appeals to, then can devote marketing efforts to maintaining & increasing number of guests from those markets before trying to attract new ones. |
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Term
The focus of internal selling is...
Types of internal selling include... |
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Definition
any effort made to increase revenue from guests who are already visiting the operation. service & other guest-contact employees often can generate additional sales & repeat business.
suggestive selling, internal mercahndising, & special promotions |
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Term
Billboard advertising is a type of outdoor advertising.
Advantages
Disadvantages |
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Definition
ADVANTAGES
Low cost, long life span, broad reach
DISADVANTAGES
Limited message length, waste coverage, zoning laws |
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Term
Newspaper advertising is often attractive. People of all ages, races, occupations, & income levels read newspapers.
Advantages
Disadvantages |
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Definition
ADVANTAGES
ads placed quickly, run for varying times, easy to cancel or repeat, flexible positioning
DISADVANTAGES
readers typically skim through pages, poor quality of newsprint |
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Term
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Definition
- potentially saturate an entire area & cost little to produce
- produce quickly & used almost immediately
- can be targeted to reach ppl w/in convenient driving distance of property
- extremely short life span
- useful only for messages advertising events scheduled in near future
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Term
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Definition
- provide extensive coverage
- can choose shows & times that appeal to an audience that matches one or more of its target markets
- high cost is a major disadvantage
- can require months of lead time
- short life span
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Term
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Definition
excellent source of info helpful in planning menus & developing promos
help mgmt with pricing decisions and provide clues about markets still untapped |
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Term
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Definition
- establishes direct links to guests & potential guests
- enroll visitors in frequent diner programs
- develops a more one-on-one guest relationship
- provide incentives to keep coming back to website
- banner ads on internet pages
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Term
What is "third screen" advertising? |
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Definition
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Term
What is...
Public Relations
Publicity |
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Definition
Public Relations: process of communicating favorable info about a food service operation to the public in order to create a positive impression (charity work)
Publicity: free media coverage of a food service operation, its staff, or special property events |
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Term
What types of advertising do noncommerical food service operations use? |
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Definition
prepared menus
printed newsletters
brochures |
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Term
What are the 6 basic nutrients? |
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Definition
Proteins
Carbs
Fats
Vitamins
Minerals
Water |
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Term
What are carbs?
Examples... |
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Definition
supply energy; main source of fuel used for digestion & respiration; help maintain proper body temp & eliminate need for body to use protein as energy source
starches, sugars, & cellulose |
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Term
What nutrient is the best source of energy? |
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Definition
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Term
2 basic categories of vitamins:
1. Fat-soluble
2. Water-soluble |
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Definition
1. absorbed into the body where they are stored & used as needed
2. absorbed into bloodstream but are not generally stored in the body |
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Term
1. What is a calorie?
2. What is saturated fat?
3. Unsaturated fat? |
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Definition
1. a measure of the energy contained in food
2. contain much hydrogen & solid at room temp
3. contain little hydrogen & liquid at room temp |
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Term
RDAs stand for...
The function of it is... |
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Definition
Recommended Dietary Allowances
establish amounts of essential nutrients that experts believe to be adequate for the nutritional needs of most healthy people |
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Term
What are some ways nutrients can be lost during preparation of food? |
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Definition
Cleaning & trimming
Oxidation
Light
Heat
Water
Misuse of ingredients |
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Term
Examples of fat subtitutions in:
Cooking
Baking |
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Definition
Broil instead of sauteeing
reduce fat by 1/3 to 1/2; use applesauce |
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Term
What is the LEAN Act of 2009?
LEAN stands for?
Purpose? |
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Definition
if passed would require chain restaurants w/ more than 20 units to provide detailed nutrition information using a uniform national standard
Labeling Education and Nutrition
to ensure that restaurants provide detailed written info to consumers in a consistent, convenient manner |
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Term
Low cholesterol options include.. |
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Definition
skim milk
egg whites
good cholesterol spreads instead of butter |
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Term
Menu Pricing Styles
1. Table d hote
2. a la carte |
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Definition
1. complete meal for one price
2. food & beverage items listed & priced separately |
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Term
Menu Schedules
1. Fixed
2. Cycle |
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Definition
1. single menu used daily, or a menu for each meal period
2. one that changes every day for a certain period of days; when the period ends, the cycle repeats |
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Term
Dinner is the main meal of the day for most people. What would a typical dinner menu consist of? |
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Definition
offer a variety of selections
steaks, roasts, chicken, seafood, & pasta dishes
wines, cocktails, & exotic desserts |
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Term
Where would you locate a drink listing for a restaurant?
How should alcoholic beverages be listed? |
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Definition
either a separate alcoholic beverage menu or included on the regular menu
**if on regular menu, drink list should come before food so guests desiring to drink before ordering meal have necessary info.**
should list alcoholic beverages in large, readable type, with brand names & prices included. |
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Term
Room service usually offers a limited number of menu items, why?
What do they usually offer? |
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Definition
b/c it is difficult to offer high-quality food that doesn't deteriorate during delivery from the production area to the guest's room
selected items from the hotel's regular menu or feature items not on the regular menu |
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Term
What is a California menu? |
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Definition
offer breakfast, lunch, & dinner items on one menu, with all items available at any time of day |
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Term
Desserts are typically... |
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Definition
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Term
In what order should menu items appear on the menu? |
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Definition
appetizers & soups
entrees
desserts
the placement of side orders, salads, sandwichs, bevs, so on, will depend on the operation & meal period |
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Term
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Definition
refers to a menu's size, shape, & general makeup
make adjustments as necessary
too much, reduce; too little, add more
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Term
Menu Balance
1. Business
2. Aesthetic
3. Nutritional |
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Definition
1. the relationship between food costs, menu selling prices, the popularity of items, & other financial & marketing considerations
2. refers to the degree to which meals have been constructed w/ concern about the colors, textures, & flavor of foods
3. the degree to which the menu offers a variety of foods in the basic food groups |
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Term
1. What is Menu Mix?
2.Define Contribution Margin |
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Definition
1. relates the sales of a particular menu item to the total # of menu items sold
2. contribution margin of a menu item is calculated by subtracting its food costs from its selling price. an items contribution margin is categorized as either high or low by comparing it w/ the contribution margin of all items on the menu |
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Term
1. Stars
2. Plowhorses
3. Puzzles
4. Dogs |
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Definition
1. high in both popularity & contribution margin (retain)
2. high in popularity, low in contribution (reprice)
3. low in popularity, high in contribution (reposition)
4. low in both popularity & contribution (remove) |
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Term
What is a standard recipe? |
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Definition
a formula for producing a food or bev item
it specifies the required quantity of each ingredient, preparation procedures, portion size & portioning equipment, garnish, & any other info necessary to prepare the item. |
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Term
What is the single most important advantage of using standard recipes?
Other Advantages... |
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Definition
CONSISTENCY
efficient purchasing
less likely to have too many or too few
effectively schedule food production employees & equip
less supervision required
if ill other employees can still produce item |
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Term
1. Ingredient file
2. Standard recipe file
3. Menu item file |
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Definition
1. contains important data about each purchased ingredient, including purchase unit, issue unit, & recipe unit
2. contain recipes for all menu items
3. contains info related to menu items tracked by POS system; recipe code #, selling price, ingredient quantities for inventory reporting, and sales totals (by unit); contains data for all meal periods & menu items sold |
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Term
1. Adjustment Factor
2. Portion Cost |
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Definition
1. the number by which the amount of each ingredient in a standard recipe is multiplied to increase or decrease the recipe's yield
new yield / old yield = adj. factor
2. the standard food cost for an item that is sold as a single menu selection; indicates cost incurred by preparing one portion of the menu item according to its standard recipe.
sum of recipe's ingredient cost / # of portions recipe yields = portion cost |
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Term
Pricing Methods
1. reasonable-price
2. highest-price
3. loss-leader
4. intuitive-price |
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Definition
1. uses a price that the food service manager thinks will represent a value to the guest
2. manager sets the highest price that he/she thinks guest are willing to pay
3. an unusually low price is set for an item. assume guests will visit to purchase & will then select other items as well
4. set by intuition, manager takes little more than a wild guess about the selling price |
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Term
List some ways to reduce inventory cost |
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Definition
- carry a smaller amount of inventory
- be sure that required levels are correct
- decrease the # of product types the operation carries
- refuse to accept early deliveries
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Term
Goals of a purchasing program include... |
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Definition
Buying the right product
Obtaining the right quantity
Paying the right price
Dealing with the right supplier |
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Term
How do you determine the quality of a product for purchasing? |
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Definition
quality level necessary for a particular product is determined in part by the product's intended use |
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Term
When should you weigh food products that are sold by weight? |
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Definition
Upon receiving; compare to delivery invoice to make sure weights match |
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Term
What are the proper temps to store food:
1. Fridge
2. Dry Storage
3. Freezer |
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Definition
1. 41*F or lower
2. between 50*F and 70*F
3. kept below 0*F |
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Term
What are some ways to prevent F&B theft? |
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Definition
- lockable storage areas
- precious storage; very expensive items kept locked in special cabinets
- limited access; managers should allow only authorized personnel to enter
- effective inventory control procedures; perpetual inventory
- central inventory control; end of shift items returned
- secure design
- lighting & monitoring; adequate lighting & cameras
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Term
What is a par level for inventory? |
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Definition
- the minimum amount of a product that should always be in inventory
- par level equals the lead-time quantity plus the safety stock level of any given product
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Term
The process of just-in-time (JIT) inventory is to what..
1. reduces the need for:
2. decreases loss due to..
3. free funds from being tied up in.. |
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Definition
keep only emergency quantities of products on hand & ordering & receiving the majority of food & beverages "just in time" to issue & use them
1. extensive storage space
2. spoilage & pilferage
3. storing unnecessary inventory |
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Term
Describe prime supplier inventory |
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Definition
the prime supplier might establish a miniwarehouse that it staffs w/ supplier personnel
in place, a food operation needs a formal issusing system less, since almost all products delivered on a specific date will be used on that date |
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Term
1. What do operations use sales history records for?
2. What do they indicate?
3. How are they generated & what do they recap? |
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Definition
1. to estimate production needs for the upcoming week
2. indicate for each date the total meals served, the # of portions of some or all menu items served, the weather, & special events/activities
3. by POS system; recaps sales of apps for one week |
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Term
1. How are fruits & vegetables available year round?
2. What is blanching & why is it done? |
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Definition
1. due to diverse climates in the U.S. & because technology has improved storage & transportation systems
2. a form of boiling; submerged in boiling water for a short time; used when preparing for freezing, makes skins easier for removal, preliminary process in cooking |
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Term
1. What is connective tissue?
2. What are the 2 types? |
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Definition
1. holds muscle together & determines tenderness of meat; type of collagen determines cooking method
2. collagen (white) breaks down into gelatin when heated
elastin (yellow) does not break down when heated |
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Term
Describe:
1. Roasting
2. Braising
3. Simmering |
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Definition
1. in oven (dry-heat); placed on rack in roasting pan w/ fat side up so meat can baste itself
2. meat first browned in small amt of fat, then cooked slowly in a small amt of liquid in a covered cooking container
3. meat cooked in a small amt of water or broth in covered pan til tender; temp below boiling |
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Term
What is the nutrient value of fish? |
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Definition
quite high; good source of minerals & protein & a good alternative to meat protein
fish w/ high fat content is a good source of vitamins
fat content ranges from less than 1% (cod) to more than 25% (salmon) |
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Term
Principles when cooking with...
1. Cheese
2. Milk |
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Definition
1. heat as low as possible; get tough/rubbery if overheated; cheddar most popular used in cooking, chopped or grated before adding
2. prevent curdling; heat as low as possible
prevent scorching; heat in dbl boiler
no salt til served
**low heat & frequent stirring** |
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Term
Leavening agents in...
1. Cooking
2. Baking |
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Definition
1. involve incorporating gases into a product to increase product's volume & make it lighter; i.e. egg whites
2. used to make dough light & porous;
*air incorporated by beating eggs or creaming fat & sugar
*carbon dioxide created by yeast on sugar
*CO2 produced using baking soda w/ water
*Baking powder is popular |
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Term
Preparing Coffee & Cleaning Coffeemaker |
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Definition
Fresh cold water, brewed @ proper temp (185*F) NEVER allow to boil, held no longer than an hour
should be rinsed after each use & cleaned regularly according to manufacturer's instructions |
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Term
Ways to save water in restaurants... |
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Definition
1. serve water to guests only upon request
2. thaw frozen food in fridge
3. wash vegs in a basin of water rather than running
4. repair leaking kitchen sinks
5. reduce hot water temp
6. install low-flow faucet spray valves |
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Term
Describe these types of service
1. Plate (American)
2. Family-Style (English)
3. Cart (French)
4. Platter (Russian) |
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Definition
1. most frequently used in U.S.; take order, give to BOH, bring plate to table
2.quantities of food placed in bowls/platters & brought to table (like @ home); guest help themselves
3. dining ft. gourmet foods & elegant atmosphere; food partly or completely prepared at tableside
4. BOH portion & arrange food attractively on platters
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Term
The primary goal of any type of food or beverage service is... |
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Definition
to provide an enjoyable experience for guests by meeting or exceeding their expectations |
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Term
1. Standard Operating Procedures (SOPs) help provide consistency because...
2. Performance standards that are measurable & observable should be...
3. Doing this help managers & employees... |
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Definition
1. they detail exactly what must be done & how it should be done. Consistently producing & serving quality products is a MUST for sustained success.
2. tied to each operating procedure
3. determine whether procedures are being performed correctly |
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Term
1. A food server station is what...
2. When are they assigned?
3. # of tables assigned depends on.. |
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Definition
1. a specified # of tables in a specified location for which a server is responsible
2. before the dining room opens
3. # of seats, type of service style, expected turnover, whether servers being trained during shift, distance to kitchen & bar, variety of menu items, # servers scheduled |
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Term
|
Definition
12oz beer = 4oz wine = 1.25oz liquor (80) = 1oz (100) |
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Term
Procedures that can help reduce the possibility of a troublesome confrontation: |
|
Definition
- alert backup
- remove alcohol from guest's sight & reach
- be nonjudgmental
- be firm
- minimize confrontation
- remind intoxicated guests driving dangerous, suggest alternate transportation
- keep personal record of incident
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Term
|
Definition
maintains current data for all open guest checks (those for which guests have not yet paid) |
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Term
Order entry devices include...
1. Preset key
2. Price look-up key
3. Modifier key
4. Function key |
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Definition
keyboards, touchscreen terminals, magnetic strip readers, & handheld terminals
1. maintain price, descrip, dept, tax, and inventory status of a designated menu item
2. like preset but requires user to identify menu item by its reference code #
3. used w/ preset & price look-up to detail prep instruc. for food prod. areas or to alter prices based on designated portion sizes
4. assist user in processing transactions; important for error correction, price alteration, & proper cash handling |
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Term
1. Settlement keys
2. numeric keypad |
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Definition
1. used to record the methods by accts are settled: cash, credit, hse acct, charge transfer to the guest's folio (in a hotel), or other payment method
2. set of keys used to ring up menu items by price, access price lookup data by menu item code #, access open guest chk accts by serial #, & perform other data entry operations |
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Term
What is shopper services?
Why are they used? |
|
Definition
a service that provides a shopper who poses as a guest to observe the beverage operation
primarily for detecting bartender theft |
|
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Term
What do you need to know to effectively sell beverages?
|
|
Definition
- what drinks are available
- drink ingredients & preparation methods
- how to make suggestions
- which wines to suggest with menu items
- how to present, open & serve wine & champagne
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|
Term
When should garbage pickups be scheduled?
What are some typical kitchen cleaning schedules? |
|
Definition
should be several times a week; more frequent for high-volume and during warm weather
should be done when the least amount of food is exposed; make lists of who needs to clean what |
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Term
Potentially hazardous foods should be thawed in one of the following ways: |
|
Definition
1. in refridgerated units
2. under running water @ 70*F or lower
3. microwave oven if immediately transferred to other cooking equipment
4. as part of cooking process (stks charbroiled from frozen) |
|
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Term
|
Definition
First In, First Out
Hazard Analysis Critical Control Point
Material Safety Data Sheets |
|
|
Term
The following precautions can help lessen the danger of fire: |
|
Definition
1. properly clean & maintain cooking equip. & exhaust hoods/filters
2. limit smoking to restricted areas
3. adequate fire extinguishing equip. available
4. use specialized detection devices
5. use automatic sprinkler systems |
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|
Term
An accident investigation should: |
|
Definition
1. asses what happened
2. determine why
3. suggest what needs to be done to prevent
4. follow up
IMPORTANT manager see all reports & follow up to ensure that preventive action has been taken |
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|
Term
A facility's construction or remodeling should address the following goals: |
|
Definition
- best price possible
- appeal to guests & employees
- max return on investment
- efficient flow of ppl & products within facility, equip well placed
- provide safe working space
- consider food safety concerns & regulations
- maintenance costs low
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Term
Determinants of equipment & space needs: |
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Definition
the menu is the primary factor in dictating needs
employee skills and the variety & volume of food/bev the operation produces |
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Term
Kitchen redesign plans should address serveral concerns, including: |
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Definition
1. Physical fatigue
2. Noise
3. Lighting
4. Temperature
5. Government safety codes |
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Term
What is work flow?
Layouts: |
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Definition
traffic patterns employees create as they go about their work
L-shape (bakeshop)
Straight-line (pots & pans)
U-shaped (dishwashing work area)
Parallel (frying station) |
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Term
Size of all areas of a restaurants
1. Receiving & storage areas
2. Dining Room
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Definition
1. large enough to handle all items ordinarily received
2. must match with the kitchen's production capacity
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Term
When to implement "green" changes in a facility? |
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Definition
during planning for initial construction or extensive remodeling |
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Term
1. Uniform system of accounts:
2. Income statement
3. Balance sheet |
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Definition
1. serves as a turnkey accting system b/c it can be quickly adapted to the needs & requirements of new & expanding food service businesses
2. provides important financial info regarding the results of operations for a stated period of time, usually a month
3. reports the financial position of a food service operation on a specific date by showing its assests, liabilities, and equity |
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Term
1. Current assets
2. Noncurrent assets
3. Ratios are what? |
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Definition
1. are those assets that are cash or convertible to cash within 12 months of the balance sheet date
2. all other items
3. a mathematical relationship between 2 figures. generate new information. help make financial statement info more meaningful, informative, & useful |
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Term
Food Cost % equation:
Fundamental accting equation |
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Definition
1. Food Cost Percentage = Cost of Sales (food)
Food Revenue
2. Assets = Liabilities + Equity |
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Term
1. Accts payable software
2. Accts receivable software
3. Payroll accting software
4. General ledger software |
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Definition
1. refers to liabilities incurred for food, supplies, equipment, or other goods & services purchased on acct
2. obligations owed to the property from sales made on credit
3. maintains employee master file, calculates gross & net pay for salaried & hrly employees, produce paychecks, prepares payroll tax registers & reports
4. lists financial statement accts & acct #s used by the food service operation
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