Carnival UK: Performance Management Plan, Hospitality Laws

Carnival UK
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Table of Contents
Introduction...............................................................................................................................................3
LO1.............................................................................................................................................................4
P1............................................................................................................................................................4
P2............................................................................................................................................................5
P3............................................................................................................................................................7
LO2.............................................................................................................................................................8
P4............................................................................................................................................................8
P5..........................................................................................................................................................12
LO3...........................................................................................................................................................13
P6..........................................................................................................................................................13
P7..........................................................................................................................................................15
LO4...........................................................................................................................................................16
P8..........................................................................................................................................................16
P9..........................................................................................................................................................18
Conclusion................................................................................................................................................20
References................................................................................................................................................21
Appendix..................................................................................................................................................23
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Introduction
Now a day, servicing is one of the main sectors which ultimately assist the business organization
for gaining a competitive advantage. In this report, all the business transaction is done by the
Carnival Plc. is inserted in ledger book along with the trial balance. Key performance indicators
are discussed in order to make the performance better. A performance management plan is going
to make in order to resolve the negative behavior of the business. Along with various legislations
are going to discuss in this report. The memo will make in order to know the communication and
coordination will work better in the food and beverage business.
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LO1
P1
The key performance indicator is the tool which is used by the company’s management to
measure the financial and non-financial performance. However, Carnival Plc. is the UK based
company which specially deals in tour operating services. Hereunder, the company’s financial
performance is evaluated by using KPI so that their viability can be checked. However,
management could frame the strategy for the organization. In this given question, financial key
performance is used in order to make the decision.
Financial KPIs are normally depended upon the financial statements which cover the income
statements, balance sheet and cash flow statements along with the change in sales growth.
Hereunder, management of the cited company used two main financial key performance
indicators which would help out the management to frame the strategy in order to gain the
viability (Okada and Greyser, 2018).
Cash Flow: This is simply the tool which will tell the amount of money spend and comes in the
restaurant business. This is simply told the cash in hand. Normally, management also prefers to
have positive cash flow which ultimately assists the business in gaining competitive advantages.
Now, this can simply be said that the management of the cited company would get to know the
behavior of the cash and then make the strategy which leads the business (Dogru and Sirakaya-
Turk, 2018).
Cash flow= Cash Input- Cash Output
Retention or Repeat Visitor Rate: A restaurant is the one which is as sound as its loyal
customers. There are some experts who discuss that other metrics are moot points if the
consumer experience is not up to par (Alnawas and Hemsley-Brown, 2019).
Henceforth, this can be rightly said that the management will need to adopt these above
mentioned financial KPI tools in order to improve the performance of the business and make the
decisions effectively (CUFFY, 2017).
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P2
Purchase Account
Dr. Cr.
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount
(£)
2019 2019
Feb. 1 To Kate's
Kitchen
5,001
Feb. 1 To Harry 29,552
Feb. 22 To Kate's
Kitchen
7,013
Total 41,566
Kate's Kitchen Account
Dr. Cr.
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount
(£)
2019 2019
Feb. 6 To Bank 5,001 Feb.
28
By
Purchases
5,001
Feb.
28
To Balance
c/d
7,013 Feb.
22
By
Purchases
7,013
Total 12,014 Total 12,014
Harry Account
Dr. Cr.
Date Particulars J.F. Amount (£) Date Particulars J.F. Amount (£)
2019 2019
Feb. 17 To Bank 29,552 Feb. 28 By Purchases 29,552
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