课程: Accounting for Non-Accountants
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Evaluating efficiency ratios
- I remember in quarter 2, 2020, when the pandemic hit and Starbucks decided to shut all stores and yet keep the drive-throughs open. That's bold. I wondered how that would go. Will they have to cut staff, since only one sales channel will be open? How can they have enough sales with only the drive-through open? And one internal thought, those drive-through lines are going to be so long. On a side note, Starbucks also decided to offer free coffee to nurses and doctors because they were on the frontline. My curiosity about this COVID response was heightened since I had a daughter working at Starbucks. A move like this makes for a great study and efficiency. When you run your business, your productions are measured by a number of things, but, primarily, you want to drive sales and at modest costs. Let's look at how we can turn our questions about efficiency into metrics that we can use from year to year to benchmark current…