With the global proliferation of Corona 19, global economic crisis began with the occurrence of marked decrease in consumption along with global supply shock from the economic perspective. In particular, restaurant business displayed the tendency of r...
With the global proliferation of Corona 19, global economic crisis began with the occurrence of marked decrease in consumption along with global supply shock from the economic perspective. In particular, restaurant business displayed the tendency of rapid decrease in the sales revenue particularly for the Korean food restaurants due to the concerns for Corona 19 infection given the locational characteristic of unspecified multitude having meals in the same location without wearing masks.
Accordingly, this study is aimed at establishing desirable countermeasure strategy for the risks of the occurrence of Corona 19 for the Korean food industry through questionnaire survey-based analysis of structural equation with focus on the Korean food restaurants being affected most extensively due to Corona 19 that began to spread in Korea in earnest since the end of February 2020.
Results of this study can be summarized as follows:
First, it is revealed that (1) maintaining safe distance and (2) hygienic management within the restaurant are the more important factors than hygienic manner in serving customers in order for the Korean food restaurants to elevate the operational performances since the outbreak of Corona 19.
Second, it is disclosed that (1) reduction in the overhead costs and (2) sales revenue outside the restaurant are the more important factors than remodeling, temporary closure or operation of only a portion of the restaurant as the means of business management in coping with Corona 19.
Third, it was illustrated that organizational management is important for the maintenance of the distance between people and that customer service must be good in order to achieve the desired hygienic management within the restaurant.
Fourth, it was analyzed that customer services must be good in order to reduce the overhead costs and to increase sales revenue outside the restaurant.
Moreover, it also implied that means of serving customers hygienically such as washing hands, covering mouth with sleeve when coughing, and maintaining cleanliness of the staff’s uniforms, tableware, washroom and interior, etc., and means of business management including remodeling, temporary closure or operation of only a portion of the restaurant, etc. that do not directly affect the sales revenue must not be overlooked.
It can be deemed that this study is quite signifiant in that the means of coping with Corona 19 has been analyzed by taking initiative from a new angle with focus on the Korean food restaurants when there are very few preceding researches related to the means of coping with Corona 19 by the restaurant businesses.
Nonetheless, since this study limited the scope of research on the means of coping with Corona 19 by the Korean food restaurants, it is anticipated that more diversified researches will be carried out more broadly for the entire range of industries manufacturing, distribution and public sectors, etc. in the follow-up studies.
Key words: Corona 19, restaurant business, Korean food restaurants, survival strategy, factor analysis, structural equation