Business Management

Financial Decision-Making in the Foodservice Industry
Economic Costs and Benefits

Editor: Amit Sharma, PhD

Financial Decision-Making in the Foodservice Industry

Published. Available now.
Pub Date: January 2020
Hardback Price: see ordering info
Hard ISBN: 9781771888257
E-Book ISBN: 9780429292712
Pages: 290 w/index
Binding Type: Hardback
Notes: 19 color and 15 b/w illustrations


Reviews

“Professor Sharma’s new book on provides a welcome addition to the blossoming literature in this relatively new area of research. Our societies are becoming more complex, people’s lives more rushed, and food choices have shifted dramatically. This book captures this trend exceptionally well, with a collection of chapters that transcend research disciplines and touch on topics at macro-, meso-, and micro-level perspectives. Although the title reflects the most important focus of the book, financial decision-making, it equally reflects nonfinancial aspects of decision-making, including cultural influences, the impact of sustainability on food choices, industry structure aspects, and behavioral economics. This brings a much-needed deeper understanding of how cost-benefit analysis happens in the consumer’s mind and how consumers can be helped in making the right food choices and lead healthier lives.”

—Xander D. Lub, Professor of Hospitality Management and Experience Design, Academy of Hotel & Facility Management, Breda University of Applied Sciences, Netherlands

“Professor Sharma’s book takes a deeper dive into financial decision-making in foodservice. Each chapter presents important topics ranging from ethics, sustainability, food safety, nutrition, trends, local foods, and leadership needs applicable for today’s foodservice enterprise. This book opens up a needed discussion on the bundle of needs, values, and outcomes that drive decision-making and, ultimately, survival of a foodservice operation in the food ecosystem. This approach pushes the boundaries beyond traditional notions of cost control-based decisions and outdated definitions of foodservice.”
—Robert J. Harrington, Professor and Associate Director, School of Hospitality Business Management, Washington State University



Read chapter 1 here



The study of decision-making in foodservice is still a relatively new area of scholarly interest. The application of cost-benefit analysis and behavioral finance and economics in the foodservice context is rare. This volume, Financial Decision-Making in the Foodservice Industry: Economic Costs and Benefits, fills that gap and focuses on cost-benefit analysis, decision-making, behavioral finance, economic theories, and their application in foodservice and restaurant industry. The volume synthesizes these major themes by developing new theoretical foundations and presenting findings from the investigation of managerial practice.

The authors cover an abundance of topical issues, including ethical obligations in foodservice, sustainability issues in the foodservice/restaurant industry, farm-to-school and local food expenditures in school foodservice settings, managerial traits and behavior in the foodservice industry, and more.

The volume comprehensively analyzes the foodservice value chain, providing a unique perspective for not only hospitality researchers but also for those in such diverse (though related) fields as agricultural economics, food science, food nutrition, consumer behavior, decision-making, and finance and economics.

CONTENTS:
Preface

PART I: EATING AWAY FROM HOME DECISIONS

1. The ACE Trade-Off Model: A Cost-Benefit Perspective to Understanding the Process of Everyday Food Choice Transactions
Amit Sharma

2. U.S. Trends in Food Away from Home
Jungtae Soh

3. Out-of-Home Eating Trends: How Knowledgable Is the South African Foodservice Industry on Healthy Meal Alternatives?
H. Kesa and A. N. Melani

4. Nutritional Status of Children Participating in the Supplementary Nutritional Programme (SNP) and Mothers’ Perceptions of
Services Provided
Angeline Jeyakumar and Mrudula Holkar

PART II: FOODSERVICE SYSTEMS

5. To Be Green or Not to Be Green: Costs and Benefits Related to Sustainability Decision-Making in the Restaurant Industry
Robin B. DiPietro

6. Cost–Benefit Assessment of Local Foods in Independent Restaurants
Amit Sharma and Frode Alfnes

7. The Impact of Farm-to-School and Local Food Expenditures on School Foodservice Revenues
Victor Motta

PART III: FOODSERVICE BEHAVIORS

8. Food Safety: Integrating Behavior Change and Motivation Design
Kevin R. Roberts and Naiqing Lin

9. Consumer Agency and the Ethical Obligations of Foodservice Providers in an Era of Cheap Food, Racial Inequality, and Neoliberal Governance
Robert M. Chiles

10. Promoting More Sustainable Consumer Decisions in Foodservice Settings: Effectiveness of the “Nudges” Approach
Laure Saulais, Maurice Doyon, and Camille Massey

11. The Influence of Managerial Traits and Behavior in the Foodservice Industry
Kwanglim Seo

12. Processing Fluency: An Approach to Looking for Nudge Interventions
Yuxia Ouyang

Index


About the Authors / Editors:
Editor: Amit Sharma, PhD
Professor of Hospitality Finance, School of Hospitality Management, Pennsylvania State University; Past President, International Council of Hotel, Restaurant, and Institutional Education

Amit Sharma, PhD, is Professor of Hospitality Finance in the School of Hospitality Management at Pennsylvania State University since 2006, and prior to that he was Assistant Professor at Iowa State University since 2002. He is the Director of the Food Decisions Research Laboratory and an Affiliate Faculty at the Teaching and Learning with Technologies and the Rock Ethics Institute at Penn State University. He also has an appointment as the Senior Research Associate at the University of Johannesburg in South Africa. Dr. Sharma teaches finance and economics. His interdisciplinary research focuses on decision-making and cost-benefit analysis and small business financing in food system contexts. He is especially interested in how individuals make food choices and decisions along the food systems continuum. The U.S. Department of Agriculture and the World Bank have funded his research here in the US and in southern Africa. His research has been published in leading disciplinary and mainstream journals, such as the Journal of Hospitality and Tourism Research, International Journal of Contemporary Hospitality Management, Food Policy, Annals of Tourism Research, Tourism Management, and others. Dr. Sharma is also founding editor of the ICHRIE Research Reports, a publication focused on translational research. In addition, he serves on the editorial boards of several leading journals. Dr. Sharma is also a Visiting Professor and Research Scholar at the Institut Paul Bocuse (Lyon, France) and was a Visiting Scholar at KyungHee University (Seoul, South Korea) (2013-14). Dr. Sharma has been an advisory board member of the African Research Center at Penn State University and is an Advisory Board Member of the Research Center at the Institute Paul Bocuse. He is also the past President (2017–2018) of the International Council of Hotel, Restaurant, and Institutional Education, and past president (2018-2020) of the International Association of Hospitality Financial Management Educators (iAHFME).  His education includes: PhD, Virginia Tech.; Master’s, Institut de Management Hotelier International (IMHI) (France); Higher National Diploma in Hospitality Management, University of Salford (England); Bachelor in Economics (Honors), University of Delhi (India).




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