(PDF) Hospitality Business Toolkit : Assignment Sample

Hospitality Business
Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................3
P1 Investigate the principles of managing and monitoring financial performance................3
P2 Double entry book keeping system of debits and credits..................................................4
P3 Balance off rule to complete the ledger............................................................................5
TASK 2............................................................................................................................................6
P4 Different stages of HR life cycle Applied to a specific hospitality job role and their
importance..............................................................................................................................6
P5 Develop a performance management plan to support specific job role to resolve negative
behaviour of employees..........................................................................................................9
TASK 3..........................................................................................................................................10
Covered in PPT.....................................................................................................................10
TASK 4..........................................................................................................................................10
P8 Interrelation of different functional roles within hospitality sector................................10
P9 Different methods of communication.............................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Hospitality management refers to many different business including restaurants, hotels,
casinos, tour agencies and airlines. Hospitality industry can be considered as broad category
within service sector as it consist lodging, event planning, theme parks, transportation, cruise
line, travelling and additional fields among tourism. The present report is based on Natural Care
Juice Centre which is provide different products like smoothies, blended juices and fresh salads
in London, United Kingdom. It is located nearby gymnasium which is beneficial to reach health
conscious people through providing desired products to them (Foster and Carver, 2018). This
assignment will focus on principles of managing & monitoring financial performance and double
entry book keeping system. It will also include life cycle of HR within hospitality industry and
importance along with performance management plan. The specific legislations and decision
making in company through employment & contract law will described here. Additionally,
interrelation of different functional roles and method of communication, coordination &
monitoring are given below.
TASK 1
P1 Investigate the principles of managing and monitoring financial performance
The finance performance can be described as a process of measuring results of an
organisation in monetary terms. In given scenario, it has been analysed that it is not easy for
Natural Care Juice Centre to gain increased profitability due to high competition in market.
However, it is necessary to manage and monitor the financial performance of given organisation
can be done through concerning few of principles which are as under –
Principle I: Budget must be properly established – This refers to first introduce
mandatory resources which are required to fulfil business goals and objectives respectively. It is
necessary for managers to evaluate and monitor financial performance on regular basis through

determining mistakes in transactions and inspecting substantial modification at work place in
organisation (Dirrigl and Noe, 2018).
Principle II: Budget should based on thorough analysis – The managers of Natural
Care Juice Centre are required to analyse overall expenses according to business goals in order to
set budget properly. It is essential for them to establish n appropriate plan for desired strategies
in terms of improving resources and decrease future short comings.
Principle III: Actual Financial result should compared to budget on daily basis – This
principle provide support to given organization to determine transaction mistakes and analyse
changes within workplace atmosphere. It also consist to measure the financial performance and
identify unnecessary expenses in respect of avoiding the same.
Principle IV: Rectify condition when financial result exceeds the planned budget – in
context of these situations, the mangers of Natural Care Juice Centre should focus on cause
behind variances in financial outputs. Moreover, they must take appropriate actions by making
proper strategies to correct the same (Eltayeb, 2018).
At the other hand, some of expenditures and actual sources of income in context of
general households on the monthly are shown below:
Incomings (source of income) Outgoings (Types of expenditures)
Gifts Lunch purchases
Benefits Drinks
Allowances Weekly food shopping
Wages Household utility bills
It has been recommended that manager of Natural Care Juice Centre should make
financial statements in order to measure financial performance accordingly. Moreover, it is also
important to establish aged debtors trail balance, working capital statements, financial ratios and
inventory records which helps to determine cash flow in order to monitor financial performance.
P2 Double entry book keeping system of debits and credits
Double entry book keeping system of accounting refers that every business transactions
and amounts must be recorded into in two accounting (King and Lee, 2016). It also requires that
amounts entered as debits must be equal to credits in overall transactions accordingly. In context

of Natural Care Juice Centre, accountants are required to make sure about accounting equation
like assets and sum of liabilities and owner's equity must be balanced.
Particulars Debit Credit
Cash in hand (Overdraft) 10700
Petty cash expenses 750
Cash sales 3350
Credit card sales 14795
Free issues 575
New kitchen equipments 6540
Food purchase 7900
Beverage purchases 12970
Purchase return 200
Discount received 2300
Credit notes 190
Rent 2850
Utilities 475
Functions and events (Income) 5967
Wages 4590
Debtors 700
Till shortage 152
37502 37502
Trial Balance can be explained as book keeping or accounting report that list balance in
every general ledger accounts of an organisation (Mejia and Torres, 2018). It include two
columns i.e. 'debits balances' and 'credit balances' hence, total of both of them should be

identical. Moreover, trial balance is related to all the major accounting items such as assets,
liabilities, equity, revenue, gains, expenses and losses.
Particulars Debit Credit Transaction amount
Wages 28976 28976
Gifts 24000 24000
Benefits 33000 33000
Allowances 16900 16900
Weekly food shopping 23000 23000
Clothes 43230 43230
Gifts 13000 13000
Household utility bills 2000 2000
Drinks 5000 5000
Lunch purchases 8000 8000
Total 94230 102876 197106
P3 Balance off rule to complete the ledger
The balancing off rule refers that overall statements of accounts are closed at the en d of
the year and then forward into next year (Godnov and Redek, 2018). It is helpful for given
organisation as it facilitate to analyse present financial performance of business which is as under
–
Particulars Debit Credit
Bank loan 12000
Cash in hand 11700
Capital 13000
Rates 1880

Trade creditors 11200
Purchases 12400
Sales 14600
Sundry creditors 1620
Debtors 12000
bank loan interest 1400
Other expenses 11020
Vehicles 2020
Total 52420 52420
TASK 2
P4 Different stages of HR life cycle Applied to a specific hospitality job role and their
importance
Stages of HR life cycle and its importance
There are various stages that are related to HR life cycle. In Natural Care Juice Centre
nine different stages are followed. The managers are looking for HR assistant of the organisation
and for this purpose all the stages are described below:
First stage: In this stage the managers analyse the requirements of the enterprise and then
decide that recruitment should be conducted or not. The new applicants who are going to be
apply for the job will be placed in HR department.
Second Stage: In this stage the managers of Natural Care Juice Centre will review the
resume of the applicants and then analyse their skills and knowledge if they match to the
requirements then they will be interviewed.
Third stage: In this stage the HR manager will ask question from the applicants who
have selected for the interview round (Sipe, 2013). The main question which can be asked from
the individuals is about their strength and weakness, them selves, their skills and the reason for
taking decision for joining Natural Care Juice Centre.

Forth stage: After interviewing the managers conduct induction programs for the
individuals in which detailed information regarding the restaurant and job profile is being
provided to them. It helps them to get comfort at their work place and get to know the employees
who are working there.
Fifth stage: When they join the organisation then performance reviews are done by the
HR so that it can be analysed that they are good in their work or not.
Sixth stage: If the performance of HR assistant is not good or they require more
experience then training and development programs are conducted so that they may get more
comfortable with their job profile.
Seventh stage: The employees who are working good get promoted by the higher
authority so that their involvement level can be enhanced in job.
Eighth stage: When workers are not satisfied with the appraisal or the compensation
then they may try to leave Natural Care Juice Centre and in this situation the managers of the
enterprise should try to retain them if they are skilled. They are be retained by providing then
higher compensation (Bruce and Stephens, 2017).
Ninth stage: When employees are about to leave the organisation then exit questions are
asked so that reason behind exiting can be analysed.
For all the organisations like Natural Care Juice Centre it is very important to analyse HR
life cycle so that talent can be managed. All the above described stages are beneficial for the
restaurant as it can help to select best employees for the organisation and also monitor their
performance so that appropriate decision can be taken for the betterment of the restaurant.
Recommendations: For Natural Care Juice Centre it is very important to formulate some
of the specific documents such as performance report, employee reports and daily work sheet. It
can help to analyse that employees are working appropriately or not.
Box 1: These is a requirement of HR Assistant in Natural Care Juice Centre and the
selected candidate is going to be placed on this profile in HR department.
Box 2: The candidates care going to be selected on the basis of skills that are required by
the organisation for the specific job profile (Nickson, 2013).
Box 3: Good Question:
Why should we hire you?
Where do you see your self after two years?

Bad Question:
Do you mind if is ask you for a drink tonight?
Box 4: Induction programs are held in organisations to provide specific information to
the new candidates.
It covers detailed information of the job profile on which new candidates are selected.
Box 5: Performance reviews are the tools that are used to monitor performance of the
employees as well as the whole organisation (Weinstein and Morritt, 2012).
These are used by Natural care to analyse performance of the employees so that they can
be appraised accordingly.
Box 6: training and development programs are conducted for existing employees so that
they can perform all the jobs in specific manner.
Main benefit of training and development program is that it helps to enhance work
quality of the work force.
Box 7: Promotions are done on the basis of performance if employees are performing
good then they are promoted and get motivated to put more efforts to accomplish all the tasks
successfully.
For all the organisations it is very important as it can help to increase work quality and
employ involvement in work.
Box 8: Employees leave an employer if they are not satisfied with their job role or the job
responsibilities.
It can be prevented by communicating them regularly and asking for their feedback,.
Box 9: When employees leave an organisation the exit interview is conducted.
Question:
Why are you willing to leave our organisation?
What led you to find another job?
P5 Develop a performance management plan to support specific job role to resolve negative
behaviour of employees
Performance management plan: For all the business entities it is very important to
form performance management plan as it can help to measure that organisation is performing
well or not (Ervin, 2016). For this purpose two different scripts are formulated by on the scenario

of asking about the thoughts of one of the best employee about making more profits. Both of
them are as follows:
Script 1: The process which should not be adopted:
Manager: Hey Fedrik.
Fedrik: Yes Sir.
Manager: I have noticed that you are continuously coming late for the job.
Fedrik: Sorry sir.
Manager: This type of behaviour will not be tolerated.
Fedrik: I will try to come on time from tomorrow.
Manager: Okay.
Script 2: The process which should be selected:
(manager calls employee in the cabin)
Fedrik: May I come in sir?
Manager: Yes. Be sited.
Fedrik: Thank You sir.
Manager: Are you in some trouble as I have noticed that you are coming late to the
office. Is everything OK.
Fedrik: Yes sir everything is fine. This will never happen again. I will come on time to
the office.
Manager: Good. You may leave now.
Fedrik: Thank you sir.
TASK 3
Covered in PPT
TASK 4
P8 Interrelation of different functional roles within hospitality sector
An organisation has different types of operational activities & procedures which are
conducted on regular basis for achieving desired productivity as well as profitability. It consist
various functional roles including human resources, finance, information technology, marketing
and production but they are interrelated to each other (Chung and Chung, 2018). However, these
have different functions are carried out in order to fulfil same goal i.e. improve sales & profits.

Moreover, marketing helps production departments to produce desired number of units of
product and finance section make budget to provide required amount of funds accordingly.
Meanwhile, human resources departments hire well experienced and skilled employees for each
section to conduct required tasks appropriately. In context of hospitality industry, desired
functional roles are given below –
Theme Park
Hospitality sector

Hotel

P9 Different methods of communication
Communication can be considered as an important in organisation for achieving set goals
and objectives in appropriate manner. It include the criteria to communicate effectively with
colleagues and superiors which facilitate to improve cooperation among workers to increase their
productivity on regular basis (Filimonau and Delysia, 2019). However, there are various kinds of
different methods of communication which can be applied in organisation to boost up accuracy
of information shared at workplace that helps to reduce chance of errors. In case of Natural Care
Juice Centre, it has been analysed that they have mission to provide healthy drink in area of
London with the help of utilising several effective communication which are as follows –

An analysis on different methods of coordination and monitoring within department of
hospitality
Considering the study of different methods of communication, it has been determined
that every source including Sky Type, group meeting, WhatsApp group etc., are helpful to
convey desired information to specific person or department in accurate way. The Natural Care
Juice Centre is a kind of small firm then they can use communication method through making a
WhatsApp group in order to communicate desired message to workers on regular basis. It will
facilitate to make an appropriate decision making which facilitate to conduct operations properly
to gain better outcomes.
Critical analysis on different methods of communication
According to the view point of Eltayeb, (2018) effective communication is essential to be
carried out for gaining effective cooperation between workers which impacts positively on
productivity of business. It consist to make an several efficient methods such as telephonic call,
Skype, WhatsApp etc. can be used for to improve performance of employees. In context of

Natural Care Juice Centre, managers are required to apply some other effective communication
techniques besides of WhatsApp in order to create more effective conversation.
CONCLUSION
From the above discussion it has been concluded that hospitality is one of the board
group of business that basically provides services to customers as per need and requirement by
providing specific experience of their journey. Herein, mangers are adopting various laws and
regulation so that an organisation can attain sustainability for longer duration of time.
Furthermore, communication and coordination and management plan play's an effective role so
that effective strategies can be adopted so that an respective organisation can attain its goals and
objectives within stipulated time period. Thus, in today's context hospitality industry is wider
sector that help in growth of economy by providing various job opportunities and leaving
standards of people in an attractive manner.