Explain a basic approach that managers can use to resolve ...

[cmoore54]

Explain a basic approach that managers can use to resolve operating problems.
 
  What will be an ideal response?

Question 2

State the formula for a beverage cost percentage, and explain its use.
 
  What will be an ideal response?

[ecox1012]

Answer to Question 1

A basic eight-step process can be used to resolve problems. The problemsolving model begins with (1) defining the problem, (2) determining its cause, and (3) determining and analyzing solution alternatives. The approach continues with (4) selecting the best solution, (5) developing an action plan, (6) implementing the plan, (7) evaluating the results of the plan and ( documenting the problem and solution for future reference.

Answer to Question 2

The formula used to calculate a beverage cost percentage is as follows:
Beverage cost of goods sold  Beverage revenue = Beverage cost percentage
Beverage costs that are below pre-established targets may indicate customers are not receiving the intended value. Beverage cost percentages that are too high may indicate product or revenue control issues managers should address. A beverage cost percentage is one measure of a manager's effectiveness in controlling beverage production costs.

[cmoore54]

YES! Correct, THANKS for helping me on my review

[mochi09]

Thanks for the timely response, appreciate it