Description
For this assignment, assume you are the manager of a restaurant at the same hotel property from your A1 assignment. A special event was recently held in your restaurant, and you have been asked by the Director of Food & Beverage to analyse the results of the events, relative to the event budget that was originally forecast. You are required to provide an oral report (pre-recorded and presented as a video, no more than 8 minutes long), that includes the following two parts:
1. a variance analysis of the event held in your food outlet, including explanation and recommendations; and
2. an appraisal of the impacts of the variances from Part 1 on the strategic objectives stated in the BSC performance plan for your food outlet.
To complete the A2 assignment, you will receive specific case materials to analyse. Remember this an individual report, to be completed independently by you. Note that each member of your A1 group will receive different case materials to analyse for A2. Case materials for A2 will be allocated by Week 3 (stay tuned to L@G announcements for further information about A2 case allocation). The specific information that you need to be able to
complete Parts #1, and #2 will be contained in the case material that you receive. In particular, your case material will include the following:
1. The planned budget for the special event held in your restaurant, and the actual results for the event (to guide your response to Part #1);
2. Four (4) strategic objectives (one for each BSC dimension) for your restaurant (to guide your response to Part #2).
Here is an overview of what is expected of you in the two parts of this assignment:
1. Variance analysis, explanation & recommendations:
• Conduct a variance analysis (using the template in your A2 case materials) on
your event budget/actual results
• Explain the impact of the variances on profitability
• Provide logical and specific reasons for why each variance occurred
• Suggest recommendations for how to address similar issues in the future
2. Impact on strategic objectives:
• Explain the impact the variances (from Part #1) will have on the four strategic objectives of your food outlet
