Analysis of Food and Beverage Services for the Easter Fair Event

This report provides a comprehensive analysis of food and beverage operations, focusing on financial statements, purchasing processes, and service evaluations within the context of an Easter Fair event. It begins with an introduction to the significance of food and beverage operations in hotel ...Read More

FOOD AND
BEVERAGE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 2............................................................................................................................................3
2.1 Explanation about the use of financial statements used in the food and beverage event.......3
2.3 Analysis of the purchasing process........................................................................................3
4.3 Evaluation of the factor to determine the success of the service and recommendation for
improvement....................................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
In the present era, one of the most effective source of generating income is food and
beverage operation which have great significance in hotel management. With the help of this
business, individual can earn effective profitability from the market. The following report is
going to define a financial statement which is necessary to be prepared in order to survive food
and beverage activities in the corporation. Furthermore, the following report has been also
addressed an effective purchasing process in the respect Easter Fair. Various components which
influenced the services of food and beverage has been also defined in this report.
TASK 2
2.1 Explanation about the use of financial statements used in the food and beverage event
Financial statement represents a formal record of activities related to financial transaction
of the business. These are written reports which define the company’s financial strongest,
liquidity, performance. Financial statement in the food and beverage department is very
important so as company can take the relevant decision about the investment and budget.
Financial stamen could be very useful as a precise measurement of operation profit, and financial
position could be revealed through the financial statement. Its main purpose is to record the
financial transaction like flow of money in sales, paying wages, paying suppliers. It helps
mnager to control the food and beverage business. It can provide short or long time view on
sales, cost and profits and allow investigating any problem. In the decision making process
financial statement could be very effective as decision would be taken based on the financial
condition of the organization. In the context of Easter fair, major three kinds of financial
statement has to be taken into consideration Which are as follows-
 Balance sheet- This statement represent three elements that is assets, liabilities and
equity. It does not represent information that covers a span of time. This sheet assist in
manage the cost and expenses of various food.
 Dish costing sheet- It is types of statement which are used in kitchen to determine the
total cost and single portion cost of specific food commodity.

 Income statement- This statement represents the outcomes of the company’s operation
and financial activities for the reporting period. It includes gains, losses, expenditures and
revenue.
 Cash flow statement- This statement shows changes in the organization’s cash flows
during the reporting period. It also includes the operating activities, investing activities
and financing activities.
 Statement of change in equity- It is also known as the statement of retained earnings. The
movement in the owner’s equity is consequent by various factors like dividend payment,
gains or losses, net profit and loss during the period.
2.3 Analysis of the purchasing process
As per the given scenario, the event Easter fair is going to celebrate and on that event, 200
guest will come. Therefore, it is required to prepare effective food and beverage so every one
can greatly satisfy from the party. For this objective, purchasing decision is very important so
that entire allotment of finance as well as resources can effectively used. There are several steps
which are included in the purchasing process. These stages are as follows- Need recognition- The purchasing process starts with recognition the actual needs for
specific food. In this stage, there is generate special requirement of special food product
in the mind of individual (Arpanutud and et. al., 2009) General need description- In this stage, individual concentrate on the description of the
general characteristics and quantity of the required commodity. Individual also focuses
on the prices, feature, durability and reliability of food product. Product specification- In this stage, individual analyzed the features of the food product
and select one of the best product which is suitable for the event of Easter fair. Supplier search- Once, the food organizer select the one of the best product of food after
that he/she search the best supplier who can supply the best and effective raw material.
Individial will select those supplier whose raw material are available in the budget of
event and also who have strong goodwill in the market.

 Order routine specification- Once the supplier will selected by the organizer after that he
will finally place the order with the choose supplier along with listing the technical
specification, quantity needed, expected time of delivery etc.
 Performance review- While food organizer will select the one best and suitable supplier
for delivering the raw material of food then he will analyze the performance of that
particular supplier (Perreau, 2015).
4.3 Evaluation of the factor to determine the success of the service and recommendation for
improvement
As per the above discussion it has been ascertained that while individual plan the event of
Easter Fair in order to provide best satisfaction to guest by offering food, he have to focus on
various stages of purchasing. The success of this food and beverage service can determined by
various components which are as follows-
 Customer satisfaction and feedback- This is one of the major component through
which individual can determine the success or failure of delivered services to guest in the
Easter Fair. If customer are well satisfied from the food then it can be said that food
provide effective satisfaction to customer and meet their expectation. If they are well
satisfied from the services then their feedback will also positive through which individual
can judge success of services (Homburg, Jozić and Kuehnl, 2015). On the other hand if
customer are not proper satisfied from services then they may provide negative comment
or feedback. This negative feedback shows the failure of services. The above Easter Fair
food services has effectively successful because customer has put positive feedback about
food and beverage.
 Cost minimization and profitability- One another component to measure the success of
service is cost and profitability. If organization gain effective profitability as compare to
investment then it can said that it have got effective success from food and beverage. On
the other hand if cost and investment is high as compare to profitability then it can be
said that the delivered services has failed. The above event of Easter fair has gain
effective profitability because its investment is less as compare to profitability. It has gain

high profitability so it can be said that the food and beverage services has effectively
successful.
 Sales- Sales is another important factor through which individual can easily determine
the success of services. If customer are like to purchase said services as compare to
available rivals in the market it means the services of corporation is more effective. In a
simple word it can be said that if customer more purchase food products of company then
it can determined that services are effective and liked by the customer in the market. So
high number of sales can also determine the success of food and beverage services.
From the above discussion it has been ascertained that there are various component through
which it can be easily determined that how the services has successful in the market. In the
context of Easter Fair food and beverage services has effectively earned the large number of
guest attention as well as profitability. However, in order to make it more attractive and
effective, it requires to mention some improvement which are as follows- Market research- In order to make effective food and beverage services, first corporation
should conduct market research activity so as it can able to identify the customer taste
and preferences related to said product and services (Baskerville and Wood-Harper,
2016). With the help of market research, company can effectively meet the customer
requirement related to product and services. One company estimate the actual demand,
requirement, perception related to food product then firm can easily develop and deliver
the required product. In the present time most of the customer likes the drink, juice and
dessert so company can identify the demand of these kinds of needs of customer and
de;liver the services accordingly. Use latest technology- This is another important recommendation to make services
effective and successful in the market. Organization should use the latest and effective
technology in the process of business operation, procurement, delivery, manufacturing
and production. With the help of technology, it will provide the effective services to
customer as well as meet their expectation.
 Innovative idea- Organization should put the creative and innovative idea in the process
of food and beverage operation so as more customer can attract toward this.

CONCLUSION
Food and beverage services is most effective source of generating revenue and deliver
effective satisfaction to guest. From this report it has been concluded that there are several
component through which it can easily determined that how much food service effective. One of
the major component is customer satisfaction through which company can easily determine the
success of services. It has also concluded that there are various stage of purchasing process
which needed to considered by the organization while it plans the food and beverage operation.

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