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The Underpinning of Success for the Food and Beverage Industry

Cohn Reznick
February 26, 2014

In the restaurant industry, success depends on a strong brand concept that is successfully executed, tightly managed for profitability, and delivers a consistent customer experience. The challenge facing the leaders of food and beverage operations is how to successfully align leadership, management, and staff in accomplishing these objectives. In our experience, the most successful organizations have maintained competitive advantage and realized profitable revenue growth by establishing core values that help everyone make decisions that best support the brand.
 
Core values are the building blocks of a company. They support the vision, shape the culture, and reflect the company’s philosophy. They are the foundational beliefs that are deeply held and upon which the organization bases the substance of how its employees and the company as a whole perform daily. They are held so strongly that changing landscapes, economic downturns, and even profit opportunities will not cause an organization to forsake its core values. Truly great organizations double-down on their beliefs, using their core values as a source of strength to help power them through even the most difficult situations. Not all businesses have them, but all can develop them.

In this article, we’ll discuss developing and implementing core values and share case studies of what has worked for hospitality businesses.

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