The 7 principles of risk management for businesses
The principles of risk management provide a framework for effectively identifying, assessing, and managing risks in a systematic and structured manner. By applying these principles, businesses can not only mitigate potential risks but also capitalise on emerging opportunities. This approach enables them to make informed decisions and achieve their strategic objectives with greater confidence. The […]
Key business risks and the value of risk management
Risk management is the process of identifying, assessing, and mitigating risks that could negatively impact a business. It involves analysing potential threats to the business, determining the likelihood and impact of those threats, and developing strategies to reduce or eliminate those risks. In the UK, businesses are required to manage risks in accordance with legal […]
The management of business risk in 2023
Risk management continues to be a critical priority across industries in 2023. As organisations face an increasingly complex and dynamic environment, effective risk management remains essential for ensuring business resilience, protecting brand reputation, and sustaining growth. To manage risk effectively, businesses must focus on the following key areas: Data-driven risk management: With the increasing availability […]
The Cost of Fraud to Businesses: Why Reporting and Prevention Matter
Fraud poses a significant financial threat to businesses, with each incident costing an average of £16,000, according to a recent survey conducted by the UK government. Shockingly, despite one in five companies falling victim to fraud between 2018 and 2020, the majority did not report these incidents to the police. The Home Office report, released […]
Recent arrests highlight importance of Right to Work Checks
In a series of Home Office raids, drivers for popular food delivery platforms Uber Eats, Deliveroo, and Just Eat were apprehended as part of an ongoing investigation into suspected immigration offenses. These arrests serve as a stark reminder to employers of the necessity to conduct thorough Right to Work checks to prevent illegal working and […]
Food waste management – Earth Week & World Environment Day 2023 series
Food waste management has become a crucial topic in the UK hospitality industry, not only for its impact on the environment but also on business profitability. In this series, we explore the sustainability aspect of reducing food wastage, as well as the financial benefits that effective food waste management can bring to businesses in the […]
Mystery Guest Case Study – Luxury hotel
This mystery guest review was conducted at several venues of a prestigious hotel, including their bar and three restaurants. The objective of the review was to evaluate staff performance standards, identify any malpractices, and provide recommendations for improvement. When conducting the mystery guest review, there were several key aspects that we wanted to examine in […]
Food waste management in UK hospitality industry
Earth Week 2023 Series Food waste in the hospitality sector refers to any food items that are discarded or wasted during the preparation, cooking, or serving of meals in restaurants, hotels, and other food service establishments. This includes both edible and inedible food waste, such as trimmings, spoiled or expired ingredients, and uneaten portions of […]
The primary causes of food wastage in the hospitality industry
Earth Week 2023 Series Food waste in the hospitality sector can occur at different stages of the food preparation and service process, including: Over-preparation: Restaurants may prepare more food than necessary, leading to excess food waste. Preparation waste: Food scraps generated during food preparation, such as trimmings, peels, and bones, can contribute to waste. Plate […]
15 Tips for effective food waste management in restaurants
Earth Week 2023 Series Food waste management in restaurants is the process of reducing, recycling, or repurposing food waste generated by the restaurant to minimise the environmental impact and save costs. Food wastage is a significant problem in the restaurant industry, contributing to greenhouse gas emissions and wasting natural resources. Adding to this, food wastage […]