Managers in the foodservice industry have many demanding responsibilities. However, what some people may not know is that food service management also involves working with data. It is the manager's job to implement strategies that will improve the profitability of foodservice operations and one way is through financial management.
Many leaders in foodservice management don't want to deal with numbers but it is a necessary part of the role. As one professional in the hospitality industry says, if you can use numbers, and use them intelligently, you're going to be a lot better off--not only in your business--because you'll understand better what your customers are thinking, how you're performing, and how your employees are thinking. The same is true for any executives in leadership positions in foodservice management. As the expert explains, a comfort with numbers makes you a better manager.
For example, one manager working in hotel management uses statistics very often in her job. She explains that she needs to use it as a way to analyze their programs to attract new customers and maintain the existing customers. Do to do this they must look at the number of people who are new to the hotel and then those who are new to the specific program offered. It's also important for making sense of trends in data. As a restaurant manager in food service management, numbers and data can help you by making tasks like inventory much easier.
It is also important to remember that managers need to perform data analysis in order to support any programs or ideas you are trying to sell. Statistics are important in creating and generating analysis. If you only have a basic understanding of statistics you might be better off learning more so that you are not living by the theory "first shoot and then aim" as some professionals admit to have done. Many experts say however that they are happy that they learned more about numbers because it has served them well the further their careers progressed.
Many professionals in food service management want to sharpen their existing skills, develop new skills, and enhance their understanding of foodservice management. Executive education programs are a great way to enhance these skills and the knowledge needed to go far and beyond and be successful. Improving your career in food service management begins with learning more about the data analysis, especially because many managers choose to ignore it.
Ultimately, there are a lot of tasks that managers in the foodservice industry undertake. They need to learn how to assess the effectiveness of several foodservice systems, use a service blueprint to improve the service delivery process and increase profits, and examine such variables as client flow, menu planning, dining time, optimal table mix, meal duration, and variable pricing. In addition to this, foodservice managers also need to learn about the strategies that increase profitability. Some of these strategies can be put into practice through improved human-resource management, financial management, superior service, and the creation of a competitive marketing position that builds their value proposition. Managers should keep in mind that all of these duties can become more manageable once they can handle and use data with ease and comfort.