IMPACT OF TECHNOLOGICAL DEVELOPMENT ON BUSINESS EFFICIENCY IN THE FOOD AND BEVERAGE DEPARTMENT
Journal Title: UTMS Journal of Economics - Year 2015, Vol 6, Issue 2
Abstract
Technological development has a great significance in the hospitality industry, specifically in the food and beverage department, and particularly in the differentiation of supply and price leadership. Technological development through the 20th century and the beginning of the 21st century led to a revolution in many fields, like communication, computer sciences to the monitoring of operations and better organization. The use of modern technological solutions affects the workforce, but it must be taken into account that the devices and equipment cannot compensate for the skills, knowledge, expertise and creativity of employees, so use of such devices and equipment decreases the need for unskilled and semiskilled workers. Innovations in the food and beverage department are important for competitive differentiation, but also innovations in the hospitality industry are always at risk as they can easily be copied and imitated, which leads the company to further innovation and improvement of services. Standardization of the working procedures, handling the groceries, binds the usage of technological solutions that allow standardization during the work, which regulates the number of employees needed, energy consumption, lower waste, with increased hygiene and cleanliness of the working process and greater effectiveness and cost efficiency for the company itself.
Authors and Affiliations
Slobodan Ivanovic, Luka Perman, Ivana Grlj
Keywords
Related Articles
- EP ID EP274255
- DOI -
- Views 132
- Downloads 0
THE ELECTRONIC COMMERCE IN THE TRAVEL AGENCIES’ ACTIVITIES IN BULGARIA AND TERMS OF REFERENCE FOR ITS ELABORATION
The data used in the paper and the sources of information studied, show regaining of the positions and the role of travel agencies in the distribution system of tourism. The main trends and special features of the Europe...
PROMOTION: WOMEN LEADERSHIP AND ALTERNATIVE METHODS FOR RESOLVING BUSINESS CONFLICTS AND CHANGES IN THE ORGANIZATION
New technological changes significantly change the way people work, how they communicate, inside the company and outside of it, and change the relations in the sphere of competition. All changes are significant and refle...
TESTING WEAK FORM OF STOCK MARKET EFFICIENCY AT THE MACEDONIAN STOCK EXCHANGE
The efficient market research to date has focused mostly on the developed stock markets. To be efficient the market needs to be large and liquid, transaction costs should be cheaper than the expected investment strategy...
TECHNIQUES FOR MANAGING PROJECTS RISK IN CAPITAL BUDGETING PROCESS
The paper examines capital budgeting process and techniques of risk analysis in the process of selecting optimal project. Corporate manager in process of capital budgeting uses numerous techniques some of them are based...
APPLICATION OF COST OF CAPITAL FOR CAPITAL STRUCTURING IN CROATIAN FIRMS
This paper show result of empirical analysis application of cost of capital for capital structuring in Croatian firms. Intensity of this applications is highly unrespectable because Croatian firms usually calculated cost...