Hotel Hilton's Financial Management Systems

The report presents a detailed examination of Hotel Hilton's operational activities, including its use of pestle analysis, porter's five force model, and swot analysis. Additionally, it describes the organisation's financial management systems, roles and responsibilities of staff, and a brief history of the hotel.

Business Health Check

Table of Contents
INTRODUCTION ..........................................................................................................................3
LO 1.................................................................................................................................................3
1.1 Analyse the objectives of the business..................................................................................3
1.2 Explain factors that impact on the business..........................................................................5
1.3 Determine potential improvements to the business organisation and operation...................8
LO 2.................................................................................................................................................9
2.1 Review the effectiveness of the business..............................................................................9
2.2 Develop plans to improve the business, justifying their value............................................10
LO 3...............................................................................................................................................11
3.1 Evaluate the current skills of management and staff..........................................................11
3.2 Devise and justify plans for the development of skills for management and staff............12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

Illustration Index
Illustration 1: Background and history ...........................................................................................5
Illustration 2: SMART criteria ........................................................................................................6
Illustration 3: Pestle analysis ..........................................................................................................7
Illustration 4: Porter's five force model...........................................................................................8
Illustration 5: Swot ..........................................................................................................................9
Illustration 6: Ansoff's matrix .......................................................................................................10

INTRODUCTION
In order to define business health check, this report is based on the Hilton hotel, U.K.
Furthermore, this report includes the history and objectives of the chosen organisation. For
defining the objectives of the business it covers the SMART criteria which includes specific,
measurable, achievable, realistic and time bound. In addition to this, there are various factors
which impact on the business activities and these all factors are analysed through pestle and
porter's five force analysis model. Pestle analysis consider the political, environmental, legal,
technical, social, and economic factors(Woringer and et.al., 2017). While porter's five force
model consider Bargaining power of customers, Bargaining power of suppliers, Threats of
substitutes, Threats of new entrants, Competitive rivalries Apart from this, to identify the internal
factors company conduct SWOT analysis by which it can get the knowledge about strengths,
weaknesses, opportunities and threats factors. There are different possible options by which
company can improve their operational activities with using of Ansoff’s Growth Matrix to help
the improvement of possible improvement alternatives. Hotel Hilton is developing business plan
to be ensure about that all activities are going in proper way.
LO 1
1.1 Analyse the objectives of the business
History : Current report is based on The Hilton hotel, U.K. This is one of the best industry in the
context of hospitality industries. It started in 1919. in 1927, Hilton opens its first hotel with the
facilities of air conditioning room and the name of that first hotel is the Waco Hilton(Woringer
and et.al., 2017). Hotel Hilton becomes the first hospitality industry which introduce a multi
hotel reservations system. Background and history can be described by following chart :

Smart criteria : The main objective of manager is to set goals. But if these objectives are not
reachable than company can not achieve success. Smart criteria defines that all the objectives of
the industry should be created with the using of SMART philosophy. Each objectives must be
specific, measurable, achievable, relevant and time oriented.
Specific If a manager wants to be ensure about that its objectives are specific than it should be
ensure that the manner in which objectives are defined is discernible. The specific objective of
hotel Hilton can be classified into two aspects such as short term and long term(Lloyd and et.al.,
2016). Short term objectives of hotel Hilton is to increase the advertising budget. Short term
goals are essential to achieve the long term goals. Long term objectives of hotel Hilton is to
create revenue scores, customer service goals, employee appreciation and community objectives
or website traffic goals.
Measurable Objectives should be measurable. A manager can measure the objectives that it
meets the expectations level or not by using different assessable terms such as quantitative,
qualitative, cost based approach and so on(Lloyd and et.al., 2016).
Illustration 1: Background and history

Achievable It describes how can objectives be achieved? Goals should be achievable. It
describes that can objectives be met through available resources, opportunities and specific time
framework.
Realistic : Goals should be real. It must be practical not theoretical. If objectives of the industry
is not realistic then they can achieve its in real market(Park and et.al., 2018).
Time oriented Hilton is decided the time framework in which goals should be achieved. If
objectives are time oriented than company will definitely achieved their short term and long term
goals. Hilton decided the 3 three months to achieve their short term goals while long term can
not be specifically decided according to time period. However, Hilton decides every 6 months to
review the activities in the order to attain long term goals.
1.2 Explain factors that impact on the business
There are various factors which affect the business activities. Mostly hospitality
industries are affected by external factors which can be analysed through pestle and porter's five
force model. Hilton have numerous strengths as well as weaknesses which also affect their
human resource management activities in the term of business actions.
Pestle
Through this hotel Hilton will assess the business environment of the industry which affect the
business activity in strong manner. These factors are discussed as follows :
 Political factors Hotel Hilton is presenting as global hospitality industry in almost all the
countries. So it has to be developed the products and services as per the political situation
of the location where it is operating their business(Park and et.al., 2018).
Illustration 2: SMART criteria

 Economic factors This factor is affected the business activity because Hilton is pricing
their products and services as per the cost of living index and purchasing power of
customers.
 Social factors Hotel Hilton has launched its products and services as per the preferences
of all the categories(Park and et.al., 2018). It has not customized it products and services
as per the requirements of particular customer as other hotels have done.
 Technological factors Chosen industry has been launched advanced machinery in their
structure which assist in manufacturing creative and innovative ideas of the products
easily and instant.
 Legal factors It refers to the rules and regulations which are constructed under legal acts.
Hotel Hilton has to follow all these legal acts to maintain its position in the market(Park
and et.al., 2018).
 Environmental factors Under this factor, company makes sure that all the services and
products are environment friendly.
Porter's five force model :
This models helps in shaping the competition within an industry. It includes all the five forces
which can impact the business activities of hotel Hilton :
Bargaining power of customers Company is determining the price of the products as per the
pricing policy. Company decide their price of its goods so that all levels of products can afford it.
Bargaining power of suppliers These are the factors which creates a lot of competition in the
market of hospitality. Generally suppliers provide same products to all fast food chains thus they
can increase their price(Park and et.al., 2018).
Illustration 3: Pestle analysis

Threats of substitutes If there is any substitute available in the market than it can increase the
switching of consumer's decisions which will be the threatening factor for hotel Hilton.
Threats of new entrants More profitability margin attract more vendors to start their business
which is also threatened factor for hotel.
Competitive rivalries There are various forms of rival products and services such as hotel
hillock, hotel Shankly and so on which gives a lot of competition in strong manner.
Swot
By the swot analysis, hotel Hilton can identify the strengths, weaknesses, opportunities and
threats factor of their business. There are various strengths as well as weaknesses as follows :
Strengths
 Hilton has long history of presence.
 It has well trained workers.
 It provides different varieties of facilities which may attract customers.
Weaknesses
 It is not supplying services that are customized and designed by customer's preferences.
 The facilities of the services are identical for the last decade with no creation in the
services.
Opportunities
 There is a higher opportunity for hotel Hilton that it can expand their business in many
other geographical locations as customers are interested and fully satisfied from their
services.
Threats
Illustration 4: Porter's five force model

 Many other industries have already entered in the market of hospitality which are giving
same products and services which are offering by hotel Hilton.
1.3 Determine potential improvements to the business organisation and operation
Hotel Hilton can improve their business activities by various steps. Such as they can
improve their planning and assessment through find out a network of customers, by setting up
exploratory task forces, by explaining service location and area, by discovering the fundamental
needs and requirements of customers and through find out the capabilities and resources of the
company. Hotel Hilton can create a governing structure by acknowledge the need for a business
to function, find out the roles and responsibilities that required to be attained success. Hilton has
to describe all the policies and procedures with outlined the responsibilities to a specific person.
There are several other steps such as managing staff by determining the capabilities of
organisation, review the goals and objectives of the business, determine the qualities and skills of
employees, conduct training and development program, devise all the selection and recruitment
plan for workers and create an evaluation system.
Illustration 5: Swot

Hotel Hilton also takes use of the method of Ansoff Matrix to examine and interpret growth and
opportunities of industry in long term. Organisation has its structure according to Ansoff Matrix
which assists the executors and senior managers as well as marketers for evaluating future
growth. For the maturation of company, Ansoff Matrix furnish Product Market Strategy which
states that goods are designs according to necessitate of customers. Market penetration strategies
is also used by Organization by which it try to addition and hold up its market share. Market
improvement and variegation methods are also being utilized by Organization to better its
perspective in the market.
LO 2
2.1 Review the effectiveness of the business
Meaning Effectiveness is a degree to which goals of the business are attained and the extent by
which issues and problems are resolved. It is the ability of creating a desired outcome.
Review of business area
Products and services : The products of the hotel Hilton is the foremost comparing to other
hospitality industries. Company provide effective products and services. This is one of the ebst
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growing industry in hospitality sector because giving full satisfaction to their customers and
maintain the loyalty.
Marketing : Hotel Hilton is conducting different strategies of marketing such as marketing
audit. Through this company get the information and knowledge about the external factors and
can able to manage all the factors according to the environmental changes which gives effective
results.
Sales : The sales volume is also high of the hotel Hilton. As it is provided different product lines
and services to give full satisfaction. The target market of the hotel Hilton is tourists who are
seeking for the luxurious facilities and accommodation. In addition to this, company provide
luxurious facilities in satisfactory manner by which sales is increased.
Finance : Hotel Hilton is strong in the financial stability. There are different resources by which
it can gather funds and investments(Lu, and et.al., 2017).
Staffing : There is large number of workers in hotel Hilton. All the employees are well trained
and skilled. Company conduct different training and development programs which lead to
effective staffing.
Business image : Hilton has good business image and reputation in the market. As it is expanded
in large geographical area and benefit of customer potentiality and loyalty, it continuously
improving its reputation and brand image in the current market.
2.2 Develop plans to improve the business, justifying their value.
Define business planning : It is the process of deciding the objectives and strategies of business
in order to achieve success and development within given time frame.
Develop business plan : It is very essential to develop a business plan within an organisation
because it provides direction and instruction to attract investors. In this term, we can say that a
success of the business depends on the business plan. It includes various factors such as
executive summary, company description, market analysis, organisation and management,
service, sales and promotion, funding request, financial projections and appendix(Lloyd and
et.al., 2016). There are antithetical steps included in business plan which are as follows :
Research : It is the fundamental process in every business. Research is necessary before
launching any product or service. Through research company can get the information about
external factors which may affect the business. It can be done in various ways scuh as primary or
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secondary. In research, company analyse different sources and collect information and relevant
data.
Determine the objective : After conducting research, company decide their objectives and
goals. Objectives should be specific, measurable, achievable, realistic and time bounded.
Create profile : After completion of above two stages, next step is to create profile of the
company. In which different factors included as above discussed factors included in business
plan(Woringer and et.al., 2017).
Organisation’s financial management systems :
Financial management system improves the performance of company by considering major
factors related to financial aspects and eliminating accounting errors. It has different
characteristics such as keeping all activities and track of liabilities, ensuring the security and data
integrity, maintaining audit trail, coordinating with income tax statements and balance sheet and
so on. Hotel Hilton has financial stability in the market due to strong financial management
system in an organisation.
Roles and responsibilities of staff and management :
To gain success, there are different roles and responsibilities of staff members and management
both. They have to play different tasks to gain better outcomes. There is wide area of roles and
responsibilities of management but majorly it includes technical experts, teamwork, managing
the business, development(Lu, and et.al., 2017). Apart from this, it includes hiring and staffing,
training and development, translating the objectives and goals, monitoring and controlling or
planning the future periods.
LO 3
3.1 Evaluate the current skills of management and staff
Meaning of technical, operational and managerial skills : Skills of management and staff
includes different aspects such as technical, operational and managerial. Technical skills are the
capabilities and knowledge to execute tasks. Hotel Hilton requires to have these skills in order to
effectively and efficiently communicate with workers and employees. Operational Skills
Programme is planned to set up current skills' disparity, choice and deliver applicable modules to
leaders at all levels in the enterprise with the ability to lead modification impressively(Joodi,
International Business Machines Corp, 2015). However, managerial skills includes human,
technical and conceptual skills. It is the ability to take decisions and lead their employees.
Evaluate the current skills of management and staff
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Management skills are related to five primary factors such as planning, organising, coordinating,
directing and oversight.
Planning Under planning there are relevant skills such as critical thinking, strategic planning and
thinking, knowledge of information technology, skills to create decision making process and
devising the plan of business in sub divided factors.
Organising It includes skills of business storytelling, logical thinking, persuasion, presentation,
negotiating, public speaking, technical knowledge and skills of assessing factors that impacts
productivity of business.
Coordinating It includes skills of collaborating, communication, drawing consensus, diplomacy,
emotional intelligence, empath, patience, flexibility, honesty, listening skills, relationship
building and team building(Chang and et.al., 2016).
Directing : It includes skills of delegation, leadership, motivation, interpersonal, problem
solving and having knowledge of delivering presentations.
Oversight : It includes skills of Attaining objectives, evaluating development towards division
scores, Business management, Financial management, designing funds for enterprise units,
Budget administration, Interviewing candidates for jobs and Product management, Evaluating
Job appliers, Evaluating employee performance, Interpreting lawful codified that apply to
business, developing fiscal reports, Hiring, Rendering fiscal information and Generating
financial reports.
3.2 Devise and justify plans for the development of skills for management and staff
There are different plans and strategies available by which company can improve there
management and staff skills. These steps are as follows :
Outline the goals The first step is to outline the objectives and goals of the company. It should
be explained in effective manner to achieve success(Bernstein, 2017). Objectives should be as
per the criteria given by SMART. Which includes specific, measurable, achievable, relevant and
time oriented.
Determine improving areas After outline the goals and objectives, company should determine
the improving area which can be gathered by swot analysis. Through swot model, company can
find out the weaknesses and threats factors and can overcome these factors by improving
strengths and opportunities.
Communicate with team : Communication is must in every organisation. Communication skills
are required to effectively connect all the departments of the company and also coordinate with
external factors. Company has to take follow up from internal and external factors(Arroyo and
et.al., 2017). Internal factors such as workers or other human beings which are interrelated with
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the activities of business however external factors includes all the aspects which strongly affect
the business.
CONCLUSION
From the above report it can be concluded that there are various roles and responsibilities
of the staff and management in an organisation which has to be accomplish to attain success.
This report includes the skills of management and staff which consider Planning, Organising,
Coordinating, Directing and Oversight skills. Furthermore, this report explained business plan of
hotel Hilton in which it considers Research, Determine the objective and Create profile. To
review the affectivity of the business there are several areas which has to be considered such as
Products and services, Marketing Sales, Finance, Staffing and Business image. This report
includes various strategies and models to analyse the factors which impact the business activity
in strong manner. Hotel Hilton is using pestle analysis, porter's five force model and swot
analysis model. Furthermore, this report also described Organisation’s financial management
systems, Roles and responsibilities of staff and management. History of hotel hilton is described
in broad way as well.
Bernstein, A., 2017
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Online
Background and history, 2016[online]. Available through : <https://www.slideshare.net/>
SMART criteria, 2015[online]. Available through : <www.shutterstock.com>
Pestle analysis, 2014[online]. Available through : <www.shutterstock.com>
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Porter's five force model, 2014[online]. Available through : <www.shutterstock.com>
Swot, 2015[online]. Available through : <www.shutterstock.com>
Ansoff's matrix, 2016[online]. Available through : <www.shutterstock.com>
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