The Food and Beverage Industry

Paper Summary:

This paper explains that, in recent years, food and beverage cost, control from the standpoint of business management, has become increasingly significant to consumers, restaurants, other food and beverage entity owners and government agencies. The author points out that, in the past few decades, the American diet has undergone several changes and trends as the result of many sociological factors and technological advances, including the rage of health trends, the advent of new ways to preserve food and new health regulations applied to the modern processed food industry. The paper stresses that the food and beverage industry is one of the most competitive and lucrative markets worldwide.

Table of Contents:
Introduction
Consumers and the Food and Beverage Industry
Business Management View of Cost Control for the Food and Beverage
Industry
Governmental Regulations and the Food and Beverage Industry
The Interrelation of Each Category within the Food and Beverage Industry
Conclusion

From the Paper:

"Business managers, such as restaurant owners or food supply stores, have many unique challenges to meet. The food and beverage industry from their aspect can be best described as a monopolistic market structure in which many firms produce similar goods but each firm maintains some independent control of its own price. The barriers to entry in this type of industry are fairly low and new competitors can easily enter the market. This industry is very competitive, as members not only compete in pricing, but also in product taste, appearance, reputation, quality, enjoyment, and any other factors."

Sample of Sources Used:

• Bishai, D. & Naluba, R. "Food Fortification Spurred by Military Purchases." John Hopkins Public Health Magazine (2003).
• Bredahl, Lone. "Attitudes and Decision Making With Regard to Genetically Engineered Food Products - A Review of Literature and a Prescription of Models for Future Research." Journal of Consumer Policy 21 (1999): 251-277.
• Rice, B. "Food Components to Enhance Performance: An Evaluation of Potential Performance - Enhancing food components for Operational Rations." National Academy of Sciences. 2004. National Academy of Sciences. 26 Mar. 2006 < http://www4.nationalacademies.org/news.nsf/isbn/030974843?OpenDocument >.
• Roberts, Paul. "The New Food Anxiety." Psychology Today. 2004. Psychology Today. 30 Mar. 2006. < http://cms.psychologytoday.com/articles/pto-19980301- 000028.html >.
• Remollino, Alex. "Genetically Modified Food, Anyone?" GM Food. 2002. GM Foods. 30 Mar. 2006 <http://www.bulat.com/news/4-37/4-37gmfood.html>

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