ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Managing cost is one of the biggest challenges in the hospitality industry.
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true
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false
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Cost control is the continuous process of decreasing business expenses in order to boost profitability. With food and beverage costs eating an average of 32% of a restaurant’s revenue and food costs increasing over time, cost management is essential to long term business success and longevity.
Detailed explanation-2: -Getting started: hotel cost control and analysis In business, cost control is defined as “the practice of identifying and reducing business expenses to increase profits.” To find all your costs, run through your credit card statements and other places where your spend is documented.
There is 1 question to complete.