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Sample Assignment on Hospitality Business Toolkit

   

Added on  2020-12-30

16 Pages3443 Words98 Views
Hospitality BusinessToolkit

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Investigation of the principles of managing and monitoring financial performance............1P2. Application of double entry book keeping system of debits and credits and Analysis ofsales and purchase transactions to compile trial balance.............................................................3P3 Trial balance based on Balance-off rule.................................................................................4TASK 2............................................................................................................................................6P4 Analysis of different stages of the HR life cycle applied to a specific hospitality job role....6P5 Construct a performance plan for a specific hospitality job role and applied techniques toresolve both..................................................................................................................................7TASK 3............................................................................................................................................7P6 Evaluate the legislation that a hospitality organisation has to comply and adhere (Coveredin PPT).........................................................................................................................................7P7 Specific examples to illustrate how organisation comply employment and contract law(Covered in PPT).........................................................................................................................8TASK 4............................................................................................................................................8P8 Diverse type of functional roles within the hospitality sector................................................8P9 Different methods of communication and monitoring applied with in a specific departmentof hospitality sector....................................................................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONHospitality industry is mainly defined as service providing sector that includes variety ofservices such as theme park, travel and tourism, restaurants, event planning etc. from the pastdecades it has been seen that there is a continuously growth in this sector and it is contributingmore towards growth of the country (Branagan, 2017). Operating business in this industry andsatisfying consumers to great extend requires each organisation to understand various otherfactors of business environment. This will help in providing quality services to consumers as allthe departments involved in business operations will be managed well. To understandimportance and functions of various aspects of business a organisation named as “HealthyFluids” is considered. This is situated at Bishops Gate, London. In this report a detailed analysisis done on financial aspects of hospitality and human resource in an business organisation.Legislations that business needs to follow while managing operations and importance ofcommunication to work efficiently in the organisation. TASK 1P1. Investigation of the principles of managing and monitoring financial performanceBusiness organisation like Healthy Fluids is going to operate in the highly competitivemarket. This organisation is serving to its consumers healthy and tasty juices, salads andsmoothies. Availability of funds in the business is just like blood in a human body that isrequired to perform various other functions. It is highly recommended to manage and monitorfinancial performance of the business in following manner- Competitive Analysis: Financial indicators of Healthy Fluids needs to be compared withits competitors. This will provided wide scope to operate its finances by adopting some costeffective techniques that are used by competitive businesses to earn more. This will helpbusiness to catch various strategy used in the industry to be competitive and survive in long run(Cooper, 2012). Creation of Dashboard: A dashboard will be prepared for finance team on daily,monthly and yearly basis. This will help management and shareholders in the business to knowabout financial condition of the Healthy Fluids. Continuous monitoring on financial positionhelps to manage it more profitably and reduces chances of bed decisions. 1

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