383 Management Week Review Guide
The terms “daily” and “day” are references to day parts (lunch or dinner)
SUMMARY:
After completing the management cycle of planning, organizing, leading and executing, the management team will analyze and evaluate results and synthesize recommendations. Each team will turn in a written report and prepare for an oral review with your peers and the RKR faculty.
§ Written Report (90 points)
o Each team completes a written report
o The report is due at 4:00 PM on the Friday following the team’s management week
o The written report covers the same topics as listed in the oral review – the written report prepares you for the oral review
§ Oral Review (10 points) – Prepare to address:
o S.M.A.R.T. Objectives (desired results and actual results)
o Other Successes and challenges
o Revenue and expense (DataTrap) analyses
o Recommendations for future management teams
o Individual key insights
The reviews cover two broad areas. First, the team will analyze all actual results in comparison with their desired results. Desired results are the statements contained in team’s S.M.A.R.T. objectives, financial forecasts, menu mix forecasts, and from other parts of the management plan where objectives were developed. Second, the team will compare weekly and cumulative (quarter-to-date) results to historical benchmarks. The benchmarks will be the based on the results of the previous operating quarter, the previous year/same quarter, and/or from all of RKR history.
The period of evaluation is your week and the quarterly results up to and including your week. Both reviews analyze and evaluate your team’s performance and the operation’s performance. Analyses are in-depth, evaluations are thorough and candid, and recommendations are comprehensive.
Hints:
§ Each team member should be actively and equitably involved in the review process (“fair share”).
§ At the end of the previous week, get an electronic copy of DataTrap. This version is used to give your team a “before” snapshot to compare with your team’s “after” results.
§ Before departing on your final day or night or management, take an electronic file of DataTrap for reference. This is your “after” version.
§ Set a meeting date and time now to develop the review after your week is complete.
ON THE DAY OF THE REVIEW:
Prior to starting your oral review, distribute a one-page summary of categorized, future recommendations to each or your peers and the faculty.
§ At the top of the page, please identify your team and meal period.
§ This summary should include all recommendations from the written report. It may include other recommendations.
§ Categorize the recommendations in some way (FOH/HOH, by management position, etc.)
§ The handout will be no longer than one page. Please use 10-point font and single space if needed to maintain the summary as a one-page handout
§ As the lunch and dinner teams conduct their oral reviews in separate rooms, base the number of copies needed on three faculty members and the number of peers in your class (usually 27 copies total)
WRITTEN REPORT – The written report will cover the following areas:
1) Executive Summary (one page, single-spaced)
2) Overview
A. Introduction
3) Team Mission and RKR Goals
A. The team’s mission
B. Assessment of mission accomplishments
C. The achievement of RKR goals, especially as they relate to your week and as a lead-in to the S.M.A.R.T. objectives section
4) S.M.A.R.T. Objectives
A. List and present each objective (minimum three) – a statement of specific desired results
B. For each objective:
i. Make the connection between each objective and the Three RKR Goals and / or Your Mission (you should link each S.M.A.R.T. objective with at least one RKR Goal)
ii. List key strategies and tactics used and comment on their results
iii. State the actual results
iv. Analyze and discuss the financials, menu mix, and/or guest satisfaction (comment cards) as these topics relate to each objective
v. Summarize - What worked? What did not? How do you know?
vi. Explain the variance, if any, between desired results and actual results
vii. Recommend - What would you do differently? What would you do to ensure the same results? What could you do to enhance your success?
5) Guest Perceptions – present a detailed analysis of your guest comments and scores
A. Present a tabulation of all scores
B. Present guest comments
C. Analyze the guest feedback
6) Revenue / Sales Analysis
Present daily and weekly guest counts, check averages, net sales, and menu mix information for the following:
A. Show desired or forecasted weekly values compared to actual results
i. Present weekly guest counts, average check, and sales
ii. Show average check figures in dollars and cents; show sales in rounded dollars only
iii. Four columns:
a. Original weekly forecast (from HRT 382)
b. Final weekly forecast prior to the formal start of your week
c. Actual results achieved for the week
d. Each column has a row for guest count, average check, and total sales
e. The fourth column shows the variance between revised forecast and actual results (show + or -)
iv. Explain the variances
B. Show daily actual net sales for each category (From Net Sales in DataTrap)
i. Daily food, bar, and total sales (rounded dollar amounts)
ii. Daily guest count
iii. Daily average check (dollars and cents)
iv. Final column showing the weekly totals and food and bar mix (%)
v. Only discuss daily information that helps illustrate the weekly variances in the section 3A above.
C. Analyze item counts and percentages from the menu mix by category (appetizer, a la carte entrée, desserts, and beverages)
i. Weekly counts/percents for appetizers, entrées, specials (if appropriate), banquets, desserts, and beverages (break down beverages if appropriate; adjust for bottled wine sales if appropriate)
ii. Discuss the effect of your week’s item sales on the quarter-to-date menu mix percentages. To do this, print a copy of the QTD menu mix at the end of the previous week or prior to any input on Monday.
iii. Compare to at least one of the three historical benchmarks below:
a. Same week last year (match the dates or events)
b. Previous quarterly average
c. Same quarter, last year, quarterly average
iii. Discuss and explain variances
D. Summarize and discuss any revenue-related recommendations and / or key insights
7) Expense / Cost Analysis
A. Discuss the effect of your week’s item sales on the quarter-to-date theoretical food cost. To do this, print a copy of the QTD theoretical food cost sheet at the end of the previous week or prior to any input on Monday.
B. Select one narrow cost area and analyze the cost in depth
Focus on one cost control area. Present your team’s thorough evaluation and analysis (including impact on the bottom line of the Income Statement). Based on your team’s analysis present recommendations to future management teams that will maintain or improve performance in the topic area selected (think “cost control” methods!). Once a topic is covered for the quarter, it should not be addressed again by another team.
Think of this as a “small topic with deep analysis” to keep this clear and concise, but meaningful. Pick one item for a narrow focus and analyze it in depth. Use information from HRT 276, DataTrap, invoices, and other expense performance indicators to construct your cost analysis.
Possible broad areas to explore to seek out your narrow topic include:
A) Food Cost / Steps in the Flow of Product Controls
i. Purchasing
ii. Receiving
iii. Storage
iv. Issuing
v. Production
vi. Pricing / Sales Mix
B) Bar Cost
i. Beer / Flow of product controls
ii. Wine / Flow of product controls
C) Labor cost
i. Staff benefits (family meal)
ii. Staff benefits (motivation and morale)
D) Overhead / Controllable Costs
i. Marketing
ii. Expendable Supplies
iii. Non-Expendable Supplies
iv. Laundry and Linen
8) Weekly Summary
Analyze and discuss your week of operation based on DataTrap’s Weekly Summary. Remember that this sheet shows the combined results of lunch and dinner. Discuss the effect of your week on the QTD figures in the last column. To do this, print a copy of the Weekly Summary at the end of the previous week or prior to any input on Monday.
9) Overall Management Team Recommendations
Cover key recommendations for future managers that do not fit neatly into the categories above. These can be general recommendations, specific recommendations related to management position, or categorized as FOH and HOH.
10) Key Insights
Each manager will write about one key insight. The insight should relate to the learning in lab or lecture, but from an educational, personal, or general business perspective rather than a restaurant business perspective. In other words, it should be based on a broad topic like communication, teamwork, leadership, interpersonal relationships, decision-making, ethics, customer service, etc. Each manager writes his or her own insight.
11) Conclusion
Each team will present concluding thoughts on the week.
ORAL REVIEW: (each team member should have a copy of your written report for reference!)
Procedures and Hints:
1. The oral review is 30 to 40 minutes in length and will usually begin around 2:00 PM Dinner 4:00 PM Lunch on the Wednesday following your management week
2. Lunch and dinner teams meet separately for this portion
3. At the beginning of the oral presentation, each team will distribute a typewritten summary of the team’s recommendations for future teams
a. The sheet will include the team number and meal period at the top of the page
b. The sheet will include all recommendations from the written review
c. It may include other recommendations
d. Categorize the list of recommendations in a logical way
e. Limit the sheet to one page (10-point font and single-spacing is fine, if needed)
4. Each team member should be actively and equitably involved in the oral review (“fair share”)
5. Each team will prepare a brief PowerPoint presentation covering
a. The team’s mission and mission accomplishments
b. Analysis of guest feedback
c. The team’s S.M.A.R.T. objectives and actual results
6. By the end of the presentation, the audience should know whether or not the team’s actual results matched the desires results and why.
7. All managers should be prepared to answer questions professionally and with sufficient insight based upon your management planning or you management experience during your week. Some of the questions will be financial in nature and we use DataTrap in this process. Other questions may related to
a. Your revenue and expense analyses
b. Your recommendations
c. Your individual key insights
DataTrap
Be prepared to discuss:
1) Weekly Summary (DataTrap)
A) Evaluate and analyze the DataTrap Weekly Summary (income statement) for the entire week (both day-parts combined).
B) How do the weekly numbers and percentages (overall revenue, food cost, bar cost, and other expenses) compare to the historical benchmarks (overall for this quarter, last quarter, and/or the previous year / same quarter percentages)?
i. If the percentages are different, what are some possible reasons?
ii. What affect did your week have on the quarterly totals?
2) Sales History / Menu Mix (DataTrap)
A) While the focus will be on category percentages (appetizers, a la carte vs. banquet, desserts, beverages), you should be prepared to discuss significant item differences within categories.
B) For the weekly menu mix, discuss what affected the mix (weather, suggestive selling, in-house marketing, community marketing, etc.).
C) For the weekly menu mix, how do your category percentages compare with the historical benchmark percentages (overall and the previous quarterly menu mix)?
D) What effect did your week have on the quarterly total percentage column? Why? How does this quarter compare to last quarter?
3) Theoretical and Purchased Food Cost (DataTrap)
A) What effect did your week have on the QTD percentage?
B) How does this percentage compare to the Purchased Food Cost on the Weekly Summary?
C) What effect did your credits (comps, waste, family meal, etc.) have on the food cost?