2020 Restaurant Business Models

Webinar with Professor Vaughn Tan on how to diversify your business
Restaurant management Oct 27, 2020
Vaughn Tan

Our second episode of the Rethinking Restaurants webinar series focuses on business diversification and why it is the pivot plan for the future restaurant industry.

In this session, Professor Vaughn Tan tells us about the latest news and insights on the food and restaurant industry and gives his best tips to businesses in the hospitality field to react to the latest changes within the industry.

London-based strategy consultant, author, and management professor Vaughn Tan specializes in designing organizations that are resilient to and benefit from uncertainty. During his career, he spent over a decade working with the food and beverage industry and he is also active in legal technology, structured data, and regenerative agriculture.

In his latest publication “The Uncertainty Mindset – Innovations Insights from the Frontiers of Food”, Vaughn Tan opens up the black box of elite culinary R&D to provide essential insights and reveals how the most influential culinary R&D teams in the world exemplify what he calls the uncertainty mindset— a constant stream of new dishes, new cooking processes and methods, and even new ways of experiencing food. How do they achieve this nonstop novelty? And what can culinary research and development teach us about how organizations innovate?

How do you maintain good mental health during these uncertain times?

According to Professor Vaughn Tan, leaders can overcome the uncertainty caused by the pandemic only up to a certain extent. Given the limits that uncertainty creates, being transparent, and seeking help from your team are good resources to implement your business’ health is our speaker’s advice to implement your restaurant.

How can we forecast sales and label requirements?

During these times of uncertainty, decision making should take into account fast changes and instability. “Instead of forecasting, you should try to find ways to make your business resilient” is what Professor Vaughn Tan suggests to get through the current scenario in the restaurant scene.

How can restaurants collaborate for a more sustainable food system?

Collaborating for a more sustainable food system is a complex process involving all actors of the food chain, such as customers, suppliers, and restauranteurs. From reducing, reusing, and recycling waste to buy together directly from producers, there many solutions towards sustainability within the food and hospitality industry.

To receive the full webinar video, please drop us an email at marketing@choco.com.

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