Business Toolkit Project

This project explores the various aspects of managing a hospitality business, using Carnival Corporation as a case study. It covers topics such as financial performance, human resource management, legal compliance, and interdepartmental communication. The project provides practical insights and examples to help students understand the complexities of running a successful hospitality organization.

Business Toolkit

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 Principles of managing and monitoring financial performance. ...........................................1
P2 Preparation of ledger account ...............................................................................................2
P3 Trial Balance .........................................................................................................................3
TASK 2 ...........................................................................................................................................4
P4 HR life cycle .........................................................................................................................4
P5 Performance Management Plan.............................................................................................5
TASK 3 ........................................................................................................................................6
P6 Legislation that Carnival Cooperation can comply ..............................................................6
P7 Impact of employment and contract law on business decision ...........................................7
TASK 4 .........................................................................................................................................8
P8 Interrelationship of different functions and roles within hospitality sector...........................8
P9 Various methods of communication, coordination and monitoring within departments. ...11
CONCLUSION .............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
In today's competitive world, it cannot be denied that the hospitality industry plays a
crucial role in the growth of world business as well as enhance the economic condition. TH
hospitality industry is wide group of business which provide service to customers and it focused
on satisfaction of customer and providing specific experience s to them (Brealey and et. al.,
2012). However, hospitality industry is service industry that has encompasses many different
branches of business including lodging, restaurants, cruises, theme parks and other segments
related to tourism. In context to Carnival Cooperation, one of the world's largest travel leisure
company which is founded in the year of 1972 and it is headquartered in Florida, Unites States. It
has combined fleet of over 100 vessels and it serves across 10 cruise line brands. This report
covers ways ledger account and trial balance, HR life cycle for talent management, developing
performance planning, laws related to hospitality industry. Pong with this, interrelationship of
different functional roles within hospitality sector is also mentioned here.
TASK 1
P1 Principles of managing and monitoring financial performance.
Principles encompasses a set of rules and procedure which help company to evaluate and
interpret the financial performance of an organisation (Financial Performance, 2018). However,
principles enable the Carnival Corporation to modify their whole fiscal state and aid them in
apply trenchant enterprise decision. Some of the principles of carry off improved financial
performance are as follows:
Arrangement of funds: In regard of Carnival Corporation, this principles plays a
essential role as it assist them to set up their finance in order to achieve higher level of
skillfulness and can function their business operation smoothly (Cascio, 2015). For this, they
raise funds from bank loans, financial institutions and others.
Formulation of financial statement: For ascertaining financial presentation, Carnival
Corporation compose financial statement such as ledger, trial balance, balance sheet which assist
them to determine monetary perspective for future day.
Expenditure governance: In order to keep day to day business activity, Carnival
Corporation forms a team of professionals who are responsible to carry off and supervise daily
expenditure for reach high proficiency.

Risk Factor: There is a existence of risk an uncertainty in Carnival Corporation business
operation. However, they acquire efficacious strategic plan in order to overcome with inquiring
and increase competitive advantage.
The below mentioned principles render guidance to establishment in carry through business
objective. The key performance fact are as follows:
Food Cost: The investment on purchasing food materials should be retained the right way
in order to evaluate food consumption per head for calculating profit margin (Chapman, 2011).
Kitchen Labour: This indicator is measured by assessing the total food sale on company
as it shows the kitchen sector productivity.
P2 Preparation of ledger account
Double entry system means every traction recorded in two accounts i.e. debit and credit
account. However, Carnival Corporation implies this method to ascertain their profit and loss
during accounting year are as follows:
Purchase A/C
Date Particular Amount Date Particular Amount
01st Feb To Kate's Kitchen 500128th Feb By balance c/d 34553
01st Feb To Harry 29552
Total 34553 Total 34553
Kate's Kitchen A/C
Date Particular Amount Date Particular Amount
6th Feb To Bank 500101st Feb By purchase 5001
Total 5001 Total 5001
Harry's A/C
Date Particular Amount Date Particular Amount
14th Feb To Meganne 200801st Feb By purchase 29552
17th Feb To Bank 2955228th Feb By balance c/d 2008
Total 31560 Total 31560
Bank A/C

Date Particular Amount Date Particular Amount
6th Feb By Kate's Kitchen 5001
28th Feb To balance b/d 34553 17th Feb By Harry 29552
Total 34553 Total 34553
Beverage A/C
Date Particular Amount Date Particular Amount
3rd Feb To sale 1120328th Feb By balance c/d 42493
10th Feb To sale 8966
22nd Feb To sale 10614
17th Feb To sale 11710
Total 42493 Total 42493
Sales A/C
Date Particular Amount Date Particular Amount
3rd Feb By Beverage 11203
3rd Feb By Food 1824
10th Feb By Beverage 8996
10th Feb By Food 1687
17th Feb By Food 1611
17th Feb By Beverage 11710
28th Feb To balance b/d 49360 22nd Feb By Beverage 10614
22nd Feb By Food 1715
Total 49360 Total 49360
Food A/C
Date Particular Amount Date Particular Amount
3rd Feb To sale 1824
10th Feb To sale 1687 28th Feb By balance c/d 6837
22nd Feb To sale 1715

17th Feb To sale 1611
Total 6837 Total 6837
Meganne A/C
Date Particular Amount Date Particular Amount
14th Feb By Bank 2008
28th Feb To balance b/d 2008
Total 2008 Total 2008
P3 Trial Balance
Trial balance is a combination of several ledger account which enable the Carnival
Corporation to prove the arithmetical accuracy of books of accounts by checking and comparing
debit and credit balances (Doniņa, 2015). While preparing trial balance, company should focus
on some steps like closing balance of cash and bank book will enter after the closing of ledger
account, there will be three columns on worksheet named as account name, debit balance, credit
balance. The trial balance of Carnival Corporation are as follows:
Trail balance
S. NO Particular Dr. Cr.
1 Purchase A/c 34553
2 Sales A/c 49360
3 Kate's Kitchen
4 Harry 2008
5 Beverage 42493
6 Food 6837
7 Bank 34553
8 Meganne 2008
9 Suspense A/C 30

Total 85891 85921
TASK 2
P4 HR life cycle
In human resource management, HR life cycle plays a vital role in enhancing the
performance of company (Foster, McCabe and Dewhurst, 2010). The HR life cycle describes the
various stages of an employee's time and effort with a given organisation and the role of human
resource department in each stage. Each stage has its own opportunity, challenges and threat
which enable the company to identify their potentiality at the same time it allow them to
implement corrective course of action. However, Carnival Cooperation implies HR life cycle
which enable them to hire right candidates in order to enrich their productivity and profitability.
Some of the stages of HR life cycle are as follows:
Recruitment: Hiring decision is very critical role in HR function as it has direct impact
on company's turnover, productivity and growth. However, Carnival Corporation create effective
staffing plan, analyse compensation and benefits and also develops an interview pool in order to
recruit right or potential candidates for enhancing the growth of their business operations.
Training: Under this stage, employees becomes a part of organisation and they require
proper guidance from company in order accomplish their given responsibilities. Thus, Carnival
Cooperation communicate their working culture to employees and provide them proper training
and develop their capabilities in order to attain high proficiency.
Motivation: This stage is an essential role as it enable the organisation to reduce
employee turnover by encouraging them to put their contribution towards attainment of business
objectives. However, Carnival Cooperation manager keeping their employees engaged and
recognise their effort I order to achieve higher level of efficiency.
Evaluate: Under this stage, HR function analyse employees performance and take
corrective course of action in order to improve their weakness. Furthermore, Carnival
Cooperation supervises and measures their subordinates performance by conducting performance
conversation based on facts, not on emotions which helps them to enhance their potentiality and
can obtain profit maximisation (Hayes and Miller, 2011).

Importance of HR life cycle in talent management and in overcoming staff retention
To enhance business growth in an effective manner, HR life cycle plays a vital role as it
contains several stages like recruitment, motivation, evaluation etc. These stages allows Carnival
Cooperation to obtain higher efficiency in their business operation. Some of the its importance
are as follows:
Enhance employee performance: The HR life cycle helps the employees to improve
their performance with the help of training program which support strategic talent management.
By this, Carnival Cooperation's can identify which personnel will be best suited fro job that lead
to less performance management issues and grievances. Moreover, it also guaranteed that the top
talents within Carnival Cooperation stays longer which reflects in enrichment of firm's
productivity.
Enrich motivation: The HR life cycle enable the company to retain their staff as it
encourage Carnival Cooperation's superior to provide motivation to their manpower by inviting
them to participate in business functions like decision making process, problem solving. Due to
this action, it empower each individual to put their full contribution towards an achievement of
business goal or objective in an innovative style. (Hassanien and et. al., 2010).
P5 Performance Management Plan
Performance management plan is an integral tool which is used to enhance the employee
performance and it is also known as performance action plan. This plan applies with strong
performers to determine new ways in which they put their effort or with those subordinates who
are not meeting expectation. In Carnival Cooperation, it undergoes with major issue i.e. waiter
and waitress are dissatisfied with their working environment and denies to work with their team
leaders. However, Performance management plan of Carnival Cooperation are as follows:
Plan: This is a combination of various rules, regulations which help them to achieve their
goal in an effective manner. However, Carnival Cooperation, frames a set of rules and standards
for providing best quality of food and services. By this, company's waiter can get a clear scenario
of work which help them to attain business objectives.
Implement: After developing a plan, then implementing stage arises which states that the
application of plan in a real scenario. Thus, Carnival Cooperation superior should be very careful
and delegate the plan in each business function so that each attendant can carry forward with
their work and also allows them to contribute their best towards the attainment of goal.

Evaluate: This phase is concerned with analysing the performance of employees and
helps company to take effective decisions. However, Carnival Cooperation should supervise the
contribution of waitress towards organisational goal and enable them to enhance their
performance for gaining high productivity (Kuruuzum and Koksal, 2010).
Feedback: After evaluating the work of firm's steward, then company move forward to
take feedback regarding their working culture. However, Carnival Cooperation allows its
waitress to give their experience regarding company's working culture. By this they can achieve
high profitability and can build strong relationship between manager and attendants.
Carnival Cooperation undergoes with various disputes which effects their working
culture. Thus, it is the responsibility of its manager to maintain a better working condition and in
order to gain competitive advantage.
Techniques to resolve worker retention
Management by Objective: This method is less time consuming and of course cost
effective. The technique involves setting up of objectives or goals by Carnival Cooperation's
manager in order to evaluate each attendants performance for improving overall performance of
company. However, it is considered as fair method of examining because each waiter are ware
about their performance evaluation. As it doesn't contain giving constant feedback rather each
individual are self introspective which help them to stay within organisation for longer period of
time for the growth of company's productivity.
360 Degree Feedback: This method encompasses in getting feedback about worker from
every individual who interacts with them during working hours. However, due to this, Carnival
Cooperation's attendants can identify their potentiality as well as weakness so that they can make
corrective course of action like attending seminars, approaching counsellors etc. in order to
overcome those shortcomings. Moreover, it motivate them to continue their work within an
organisation which directly reflects in enrichment of firm's proficiency.
TASK 3
P6 Legislation that Carnival Cooperation can comply
Legislation is the formulation and legal document of law which is imposed by legislative
body. Under law making process, it contains analysing, altering and voting on projected or
planned laws and also it concerned with the words which is included in the legal document

regarding values, judgements and objective or purpose of proposal. Furthermore, legislation is an
important element as it help the company to offer effective products or service and can sustain
high profitability (Kusluvan and et. al., 2010). However, some of the legislation which Carnival
Cooperation can apply and can adhere to it is described below:
 National Minimum Wages Act, 1998: In UK, this act deals with the providing fair and
equal reward to employees which is based on their per hour basis and ages. In case of
Carnival Corporation Plc, this legislation allow them to evaluate its employee
performance effectively in order to offer good salary or benefits which encourage
subordinates to put their full effort towards the business operation. Therefore, Carnival
Cooperation prefer to apply this act due to which they can build an impressive working
culture as well as make best strategic decision which add value to company's brand. For
e.g., if Carnival Cooperation implies this legislation within their functional areas the
foremost benefit which it render i.e. it creates a workforce that is stable and highly
motivated towards company goal. Along with this it provide job security and promote
societal equality among Carnival Cooperation's attendants that reflects in enlarging local
or regional growth of firm in a better manner.
 Food Safety Act, 1990: Under this act, it refers to delivering or producing good quality
of producers in order to satisfy customer need as well as improve their morale. However,
it enable the Carnival Cooperation Plc to serve food products in best quality in order to
keep customer healthy and fit. Thus, Carnival Co-operation opted this act as it help them
to provide best quality product in an which add value to customer and company. For e.g.
In case if Carnival Cooperation applies this regulation then it enable them to oversee
kitchen procedures more efficiently and produce better output as well as reduce food
spoilage or wastage which ultimately decreases the operational costs of an organisation .
 Employment Act, 2002: In this act, it involves rules or regulation regarding maternity,
paternity, adoption of leave and pay, resolution of disputes at workplace, equal treatment
for fixed term employees and others (Lockwood, 2010). However, Carnival Cooperation
implies this act on their business operation as it help them to behave friendly with their
subordinates which encourage them to put their full contribution towards the
accomplishment of business objectives as well as build effective relationship between
superior and subordinate. For e.g. If Carnival Cooperation uses this regulation then the

primal benefit which is gain i.e. it allows a high level of specificity regarding the details
of employment like negotiating in wage rate, job position etc. Another advantage is
implementing fair decisions and solving personnel conflicts that lead them to maintain
positive relationship between them as well as provide a sense of stability and security.
From the above stated legislations, Carnival Corporation Plc can apply in their
business function in order to enrich their overall performance and can gain competitive
advantage.
P7 Impact of employment and contract law on business decision
Legislation and laws provide the proper direction to company and help them to be more
attentive in achieving organisational goal or objective. However, each and every legislation has
unique purpose, roles and contain its own positive and negative influence on business decision
making process. Along with this, various laws directly effect on business operation and function
which create negative impact on company's brand image. Thus, an organisation should be very
attentive while introducing any changes in laws without effecting their profitability and business
decisions (Maier and Hadrich, 2011). However, there are some basic ethical principles which act
as a guidance or directs their path in accomplishing organisational goal in a better way without
any hindrances. Some of them are honesty, discipline, trustworthiness, integrity, fairness, respect
or concern for others and many more which help company to build a better working atmosphere
within company. There are various examples of different firms who got caught in violating the
laws as well as for not maintaining their working environment ethics which is described below:
 A successful home décor company named as Wilko was fined £2.5 million, when 35
year old employee got paralysed due to fall of paint tin on him.
 In KFC a leading food retailer, 2 staffs got burned for which they were fined for £1.5
million.
 Jaguar Land Rover, one of the multinational car manufacturer was punished because an
employee lost his leg while car bump on production or manufacturing line.
 In Warburtons, a staff arm got stuck inside the machine for about 25 minutes during the
work process and because of that they were penalised for £2.5million.
 Leser and Wettons got trapped in prosecution which was brought by ORR and it caused
death of a worker who was working as a cleaner. For this, they were fined for £ 2.7m and
£ 1.1m respectively.

From the above mentioned examples it signifies that different multinational companies
face severe issues or complexities which negatively influence their business operation and their
decision making process. However, in some situations, incidents are unpredictable which
negatively impact company's band image (Manning, 2018). At the same time, legislation is
integral part of company as it ensure them to provide proper treatment for injured person and
build a good working culture as well as can implement effective decision for attaining high
productivity.
TASK 4
P8 Interrelationship of different functions and roles within hospitality sector
Organisational structure of Hotel
Organisational Structure of Carnival Corporation Plc

Organisational Structure of Theme Park

Organisational Structure of Hotel
From the above drawn diagram represents that hospitality industry is a combination of
various kinds of business such as restaurants, theme park, hotels, tourist agencies, travels and
may more. Each and every business function is differ fro each other as they have unique purpose,
scope, size in order to achieve organisational goal in an effective manner. Each of the
departments are interrelated and directly influence on each other (McIntosh and Harris, 2012).
The success or failure of one branch or business function influence the prosperity of another. The
relationship between each departments are as follows:
 Food and Beverage Service and Food Production Department: Both of these business
function plays a vital role in the growth of hotels or hospitality sectors. Furthermore,
Food and Beverage department is concern with delivering prepared food items to
customer in a very polite and hospitality way. On the other hand, Food Production
function prepare food in good quality as per the requirement of customers or guest.
 House keeping and Front Office Department: These both functions are essential
component for business enhancement within hospitality industry. As house keeping
department relate with the cleanliness of hotel rooms and public areas whereas front
office function communicate house keeping to make room ready for next guest or
customer. However, front office department informs housekeeping regarding departure
of guest due to that it help Carnival Corporation to maintain their service and enable
them to increase their sales or productivity.

P9 Various methods of communication, coordination and monitoring within departments.
For building an effective working culture, an organisation requires good communication
and coordination which enable them to increase employee satisfaction and enhance high
profitability. The different communication methods of Carnival Corporation are as follows:
 Conference: This method of communication mainly used in formal meeting with high
authority and board members. By this method, Food and Beverage department can
develop effective strategies and can implement fair decisions without harming employee
morale in order to attain high productivity (Nyheim and Connolly, 2011).
 Seminar: In Carnival Corporation seminars are conduct to encourage employees for
putting their full effort towards the accomplishment of business objectives. Moreover, it
motivates them to engage in business operation according to the requirements of
customer Crusie's liner.
 Text Message: This method is informal in nature as Carnival Corporation's F&B business
function exchange their information through message to employees.
 E-mail: It is regarded as formal method of communication as in this manger of F&B
department convey their views and business information to subordinates which create an
effective working environment.
Importance of methods to strengthen value chain
From the above discussed communication method, Carnival Corporation will be able to
perform their task in an effective manner and can build better working condition. The important
or official information can exchange in sequential and formal way which reduces ambiguity and
conflicts of interest among workforce. However, Carnival Corporation can direct or coordinate
their subordinates in a better which enable them to have a control over occurrence of errors or
duplication of work (Qiu, Shaukat and Tharyan, 2016). Furthermore, it help Carnival
Corporation to create impressive or productive working culture which boost the morale of
employees and firm can enhance its brad image.
CONCLUSION
From the above explained report it has been concluded that hospitality industry is a
combination of different business function like accommodation, lodging, hotels, tours and travels
and many more as it drives success to economic growth. HR life cycle enable the company to
identify and evaluate the employee performance and can take effective business decision without

harming the employees morale. However, legislation is important for every firm as it provide
proper guidance to strictly follow the business goal in an effective way without getting trapped in
any unfamiliar situation. Furthermore, every company has set of rules and principles which help
them to monitor their financial performance by preparing ledger, trial balance, balance sheet.
Along with this, different kinds of communication build better working culture and help firm to
attain high productivity.

REFERENCES
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Online
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