Creating Value Through Taste: The design of an Attribute Costing Based and Value-Engineering Menu fora local Fine Dining Establishment
Attard, James (2017)
2017
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https://urn.fi/URN:NBN:fi:amk-202103223663
https://urn.fi/URN:NBN:fi:amk-202103223663
Tiivistelmä
The primal objective of this study was to identify the set of value-creating attributes from which patrons at a local fine dining establishment derive the utmost benefit; subject to yielding the optimal cost-to-benefit reward to the establishment.These were then to be em-bodied in a niche menu design, through menu-items capturing these value-creating attributes.
A predominantly quantitative approach was taken to identify these value creating attributes; a survey approach was taken to obtain responses from 107 respondents from a pool of current, and past establishment patrons. A questionnaire was used as the research tool comprising a number of brief defined-response questions and Likert-scale statements. The Friedman non-parametric test statistic was then used to analyse the significance of attributes rankings and the statistical significance of the elicited results.
The chef’s expertise was then deployed to match the relevant benefit-yielding attributes to the respective menu items. An attribute costing technique was then utilised to derive the relevant cost to provide the attribute-embodying menu items to the end customer. The management accounting technique of Value Engineering was then put into practice to identify the set of menu items that give the best cost-to-benefit payoff to the establishment through the computation of a value index. Such mix of value-creating menu items was then incorporated into a new menu design, which would be deemed to be the value optimal mix for the establishment.
The inclusion of artisan products, ethically-sourced foods and the availability of a “Paleo” or low-carbohydrate option on the menu were the top 3 ranked value-creating attributes. The availability of a vegetarian, and a gluten-free option, together with use of exotic commodities also garnered reasonable significance. These evidence a thorough change in patron attitudes, shifting from more traditional and extravagant mind-set to a more minimalist and substance-oriented preference set.
Value is created in the fact that this research work utilises an array of statistical and management accounting techniques to identify a value-creating menu. This is consistent with the modern reality whereby restaurant management has become a multidisciplinary and trend-driven process.
A predominantly quantitative approach was taken to identify these value creating attributes; a survey approach was taken to obtain responses from 107 respondents from a pool of current, and past establishment patrons. A questionnaire was used as the research tool comprising a number of brief defined-response questions and Likert-scale statements. The Friedman non-parametric test statistic was then used to analyse the significance of attributes rankings and the statistical significance of the elicited results.
The chef’s expertise was then deployed to match the relevant benefit-yielding attributes to the respective menu items. An attribute costing technique was then utilised to derive the relevant cost to provide the attribute-embodying menu items to the end customer. The management accounting technique of Value Engineering was then put into practice to identify the set of menu items that give the best cost-to-benefit payoff to the establishment through the computation of a value index. Such mix of value-creating menu items was then incorporated into a new menu design, which would be deemed to be the value optimal mix for the establishment.
The inclusion of artisan products, ethically-sourced foods and the availability of a “Paleo” or low-carbohydrate option on the menu were the top 3 ranked value-creating attributes. The availability of a vegetarian, and a gluten-free option, together with use of exotic commodities also garnered reasonable significance. These evidence a thorough change in patron attitudes, shifting from more traditional and extravagant mind-set to a more minimalist and substance-oriented preference set.
Value is created in the fact that this research work utilises an array of statistical and management accounting techniques to identify a value-creating menu. This is consistent with the modern reality whereby restaurant management has become a multidisciplinary and trend-driven process.