Hospitality Business Toolkit

This project provides a comprehensive toolkit for hospitality businesses, covering key areas like financial management, human resource management, legal compliance, and communication. It includes practical examples, case studies, and detailed explanations of essential principles and practices. This resource is ideal for students and professionals seeking to enhance their understanding of the hospitality industry.

Hospitality Business Toolkit

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
LO 1.................................................................................................................................................3
P1. Principles of managing and monitoring financial performance ...........................................3
P2. Application of double entry book keeping system of debit and credit for recording sales as
well a purchase transactions. ......................................................................................................4
P3. Producing basic trial balance ...............................................................................................4
LO 2.................................................................................................................................................5
P4. Reviewing the different stages of HR life cycle which is applied to specifically hospitality
Job role. ......................................................................................................................................5
P5. Developing performance management plan. .......................................................................6
LO 3.................................................................................................................................................8
P6. Identifying specific legislation which hospitality organization is required to follow ........8
P7 . Illustrating the way employment and contract legislation have positive effect on business
decisions. ....................................................................................................................................9
LO 4 ..............................................................................................................................................10
P8 . Exploring the way different functional roles within hospitality sector interrelate ...........10
P9. Explaining the different methods of communication, coordination and monitoring which
can be applied in specific functional department in company .................................................10
CONCLUSION .............................................................................................................................11
REFERENCES .............................................................................................................................12

INTRODUCTION
Business practices can be defined as the procedure as well as code of conduct followed
by an organization in order achieve desired business objectives. It is very much important for
companies to concentrate on providing the high level of satisfaction as this will help them in
ensuring success. Business practices is also considered to be as implementation of new methods
or techniques for organizing routine process. Facilitating the best business practices is very much
crucial in context of long term sustainability of firm. A leader is required to have good
administrative skills which are required for managing business and people at workplace.
The study will emphasize on identifying the different principles required for managing as
well as monitoring financial performance in context of Marriott hotel. Report have focus on
analyzing the importance of human resource management in relation to retaining and developing
talent. Assignment will highlight the legislation which hospitality organization are required to
follow.
LO 1
P1. Principles of managing and monitoring financial performance
Every organization requires financial resources for performing different activities.
Managers and leaders in Marriott hotel is responsible for managing financial resources in an
effective as well as efficient manner. Ten principles of managing as well as monitoring financial
performance are:
Principle 1 : It is required by finance manager in Marriott hotel to prepare budget. In addition to
this, financial manager should arrange project resources required for accomplishing desired goals
or objectives. Finance manager in Marriott hotel is required to measure current financial
performance of firm as it is very much essential in order to manage financial performance of
company. Budgeting technique will assist finance manager in controlling the flow of funds.
According to first principle of financial management, finance manager in Marriott hotel should
address transaction errors (Agrawal,2018). They need to detect substantial changes in
circumstances.
Principle 2: Manager in Marriott hotel should develop reasonable, realistic and attainable budget.
Principle 3: The budget prepared by manager should be supported by throughout or detailed
analysis of tasks. In addition to this, the purpose of the budget should be clear and is required to
be based on objectives of different functional unit within an enterprise. It is essential for project

manager to prepare budget by assessing the financial needs of different departments within an
organization.
Principle 4: This principle states that actual financial results should be compared with the
budgeted by finance manager at regular interval of time in order to detect transaction errors, for
ensuring that unnecessary costs are avoided, making sure that expenditures are reasonable etc.
Principle 5: This principle states that is there are any variations between actual as well as
budgeted financial results then it is required by finance manager in Marriott hotel to determine
the reason or cause for the same (Lewis and Vandekerckhove, 2018). In addition to this,
manager should evaluate the activity and they are required to an appropriate action.
Principle 6: This principle of financial management states that different departments in Marriott
hotel should facilitates various activities within budget. If in case, the budget exceeds then
functional manager in organization is required to provide justification for that.
Principle 7: As per this principle, all the expenditures are required to be made according to the
organizational policies .
Principle 8: according to this principle of financial management, all the departments in Marriott
hotel are required to evaluate the financial consequences before planning to implement new
procedure or activity.
Principle 9: It is very much essential for each functional division in Marriott hotel to make sure
that costs incurred should be less that benefit gained.
Principle 10: As per this principle of financial management every functional department in
Marriott hotel should provide adequate safeguard for providing protection against financial
losses.
P2. Application of double entry book keeping system of debit and credit for recording sales as
well a purchase transactions.
` Purchase of new kitchen equipment
Debit kitchen equipment £6540
Credit cash £6540
Food purchases

Debit food £7900
Credit cash £7900
Beverage purchase
Debit beverages £12970
Credit cash £1290
Purchase return
Debit cash £200.00
Credit goods return £200.00
Cash sales
Debit cash £3350
Credit goods £3350
Credit card sales
cash £14795
Credit cards £14795
P3. Producing basic trial balance
Name Debit (in pound) Credit (in
pound)

Cash 11700
Bank loans 12000
Trade creditors 11200
Purchase 12400
Sales 14000
Sundry creditors 1620
Debtors 12000
Bank loan interest 1400
Other expenses 11020
Vehicles 2020
Suspense account 34120
61740 61740
LO 2
P4. Reviewing the different stages of HR life cycle which is applied to specifically hospitality
Job role.
Like production lifer cycle, human resource also have life cycle. Human resource life
cycle includes different phases which workers in an organization undergoes and human resource
manager in Marriott hotel have important role to play at each stage of cycle. There are various
benefit as well as challenges human resource manager have to face at each stage of cycle. For
instance, Marriott hotel is facing the issue of high staff turnover. The reason behind high
employee turnover rate in an organization is ineffective technique used by human resource
manager in an organization for motivating people (Sobaih, 2018). A breakdown at any stage of
this cycle will force the individual to apply corrective measures to the problem. It is required by
human resource manager in Marriott hotel to take quick actions to reduce employee turnover
rate as this issue can have negative effect on performance of company. Different phases of
Human resource life cycle are :

Recruitment: At this phase in order to help an organization in fostering growth, role of human
resource manager in Marriott hotel is to higher highly skilled as well a talented employee. In
addition to this, function of HR manager in an enterprise is to hire right candidate for right
position. As hiring or selection decision plays very important role in employee turnover,
productivity and also growth of firm. It is required by human resource manager in Marriott hotel
to formulate strategic staffing plan (Haigh, 2018). While making the strategic plan for hiring
employees, it is required by human resource manager in Marriott to consider the skills required
by an individual in order to perform specific job role. In addition to this, human resource
manager is required to determine compensation and other benefit packages. Role of human
resource manager at this phase is to develop interviewing protocol.
Education : At this phase of life cycle, education is provided to new employees within an
organization related to their Job role. Role of human resource manager at this stage is to provide
new employees with introduction to business activities, training related to their job role etc.
Motivation : In context of Marriott hotel, an organization is facing the issue of high staff
turnover rate due to lack of motivation. In such situation, the role of manager or leader in
Marriott hotel is to develop strong bond with workers. Employee empowerment and engagement
are the two best strategies which can aid an enterprise in dealing with the issue of high employee
turnover. In addition to this, performance recognition can be the best strategy for motivating
employees to improve their performance and retain their job for long time.
Evaluation : At this stage of life cycle, human resource manager in Marriott hotel evaluates as
well as measures the performance of workers. It provides both workers and leader with metrics
which assists them in determining whether an individual is capable of performing specific tasks
or not. Manager or leaders in Marriott hotel should provide constructive feedback to employees
at regular interval of time (Reilly, 2018.). At this phase of life cycle, role of human resource
manager in Marriott hotel to conduct performance review. This is a stage in life cycle where it is
the duty of human resource manager in Marriott hotel to provide training as well as development
opportunities to employees so that they can make significant contribution in achievement of
business objectives.
Celebration : This is last phase of life cycle which provide human resource manager an
opportunity to re energize their employees. At this phase, role of human resource manager in

Marriott hotel is to appropriate employees for their performance by providing them with unique
benefits such as flexible working hours, gifts, Extra pay, awards etc.
P5. Developing performance management plan.
Performance management plan is developed in order to identify deficiencies in
employees skills. The purpose of performance management plan is to assist employees in
addressing their deficiencies and help workers in improving their performance at workplace.
Performance management plan is very much useful in context of addressing the reason for
failures of an individual to achieve specific goals (SHARMA and Gursoy, 2018).
Performance management plan
Target area Performanc
e concern
Expected
standard of
performance
Agreed
improvemen
t actions
Support Review date Date to
achieve
expected
standard
Organizatio
n skills
Delay in
completion
of two
project
Managemen
t in Marriott
hotel will
prioritize
task on daily
basis.
To do list
will be
prepared by
manager
which will
be
forwarded
to heads of
each
department.
In addition
to this,
Senior
manager in
Marriott
hotel will
set short as
well as long
Manager
will provide
training to
all
departmenta
l leaders
It will be
reviewed in
three weeks.
To be
achieved
within six
months.

term goals
for all
functional
units within
an
enterprise.
Accuracy in
research
data
Unsuccessf
ul launch of
project. In
context of
Marriott
hotel, an
organizatio
n has failed
to gain
benefits by
launching
juices and
new dishes
To gather
accurate
information
to enable
meaningful
analysis.
It is
required by
employees
working in
Marriott
hotel to
review the
data or
information
collected
before
submitting
the research
report.
Training
will be
provided by
managemen
t to
employees
those whose
responsibilit
y is to
conduct
market
research and
gather
information
for
company.
Training
attended and
applied
effectively
in day to
day work
Performanc
e standard is
expected to
be achieved
within six
months
To
improve the
financial
reports
which are
delivered to
stakeholder
s.
Increase in
errors in
business
transaction
due to
which
Marriott
hotel has to
To
eliminate
errors in
financial
transaction
Manageme
nt in
Marriott
hotel is
planning to
implement
the tracking
system for
Financial
manager is
required to
Prepare
payroll
documentati
on for the
department
It will be
reviewed on
monthly
basis.
Performance
standards is
expected to
be achieved
within six
months.

face short
term losses.
identifying
the deficits
as well as
disperses in
accounts.
when
necessary
including
new hires,
additional
payments
LO 3
P6. Identifying specific legislation which hospitality organization is required to follow
There are numbers of laws which are applicable to company operating business in
hospitality sector. It is very much important for Marriott hotel to comply with all laws as this will
assist them in maintaining the long term sustainability. The different legislation which an
organization is required to follow includes:
Food safety act, 2013 : This legislation has been implemented by government in UK in order to
strengthen food regulatory system. The purpose of this law is to protect consumer health. It is
required by Marriott to consider this norm while developing a menu plan (Mansour, Aziz and
Said, 2019). Food safety act has direct as well as significant influence on menu planning. It also
has effect on the techniques used by hotel staff for preparing food.
Licensing act, 2003: This norm is applicable to hotels or restaurants which have obtained
license for selling alcohol the provision of regulated entertainment or the provision of late night
refreshment. The purpose of implementing licensing act by government in UK is to reduce crime
rate (Orazulike, 2018). In context of Marriott hotel, as management in an enterprise is planning
to introduce juices as well as smoothies which contain alcohol in it, an organization need to take
license for using the alcohol ion food items.
Information act : As per this legislation in UK, staff in hotel is required to provide complete
information related to ingredients used in food, method used for preparing the food etc. to
customers. As by complying with the legislation Marriott hotel can prevent such circumstances
which might have negative effect on its image as well as performance. For instance, if any
customer have elegy from specific ingredient then information related to food provided by
employees in Marriott hotel can be very much helpful in context of preventing an individual

from being prone to disease. Information act has great effect on company policies (Shum,
Gatling and Shoemaker, 2018).
Hygiene law: This norm covers the hygiene which is required to be maintained by hotel staff
while preparing food. It is required by cooking staff in Marriott hotel to ensure hygiene while
preparing as well as presenting food to customers.
P7 . Illustrating the way employment and contract legislation have positive effect on business
decisions.
Contract law in English legislative system regulates as well as governs the contractual
relationship between parties. It mainly governs the oral as well as written agreement between
parties. Amendments in contract law have direct as well as significant effect on the parties'
intention to for legal agreement (Federici, Boon and Den Hartog, 2019). If in case, Marriott hotel
fails to fulfill its obligation in context of contract then firm might have to suffer short as well as
long term financial losses. For instance, When there was no provision related to formation of
contract , at that tile Mr sing enter into a legally binding contract with Phb ltd. And MR. Singh
has to face losses as Phb Ltd has failed to fulfill its obligation. MR. Singh has to face losses, as
both the parties has not entered into legally binding contract. But when there was amendment in
contract law Mr sigh considering the benefit of entering into contract has planned top enter into
legally binding contract with other party.
Employment law in United kingdom is implemented in order to protect the employees
right from being getting exploited by employer. Changes in employment legislation have great
influence the relationship between employer and employee. It also has significant effect on the
employer as well as human resource manager decision related to recruitment as well as
termination of employees. For instance, Mr John is the employer of Smith. While working in an
organization, John has slipped due to leakage of water from refrigerator and got injured. When
John requested for compensation, Mr John he refused to pay compensation. This factor has
negative influence on the relationship between Mr john and Smith. But after the amendment in
Employment law related to compensation, Mr john has to change his decision and he has to
provide the compensation to Smith.

LO 4
P8 . Exploring the way different functional roles within hospitality sector interrelate
The different functions in Marriott hotel are inter- related. All functional roles are
coordinated in order to drive firm towards accomplishment of desired objectives.
Sales and marketing : These two functions are inter-related. As marketing function is
performed by Marriott hotel in order to increase sales. Marketing makes easier for team to
connect with customers. Marketing reaches the target customer group and inform them about the
goods or services offered by an enterprise , it helps an organization in increasing sales.
Human resource and Finance: Role of human resource is to decide the salary packages for
employees working at different position in an organization. Function of the finance is to process
the salary as per the instruction of human resource manager.
P9. Explaining the different methods of communication, coordination and monitoring which can
be applied in specific functional department in company
The different types of communication procedure which can be applied to human resource
department or other specific functional unit in Marriott hotel are use of Internal blog, E-mail,
face to face meeting etc.
Coordination between members working in specific department is very much essential as
it helps in delivering quality as well as quick services to customers. In context of Marriott hotel,
employees working in kitchen department need to coordinate with each other. An effective
coordination helps in ensuring an effective as well as efficient utilization of resources (Edghiem,
and Mouzughi,2018). There are different techniques which can be utilized by manager in
Marriott hotel for ensuring an effective coordination between employees working together in
kitchen or other division. These techniques are :
Group discussions : It is considered to be the best method of ensuring an effective coordination
between workers working together in specific functional units. Group discussion technique
provides workers with a chance to share their views and opinions (Ansoff, Kipley and Ansoff,
2019). Face-to-face communication enables the members to attain understanding on wide as well
as important business matters.
Supervision : management in Marriott hotel can appoint a supervisor for ensuring an effective
coordination among employees working in specific functional division.

Development of policies and implementation of program : Management in Marriott hotel can
implement new policies or code of conducts in order to ensure an effective coordination between
employees working in same department.
The different technique for monitoring departmental activities are establishment of
performance indicator, formal survey, personal observation etc.
CONCLUSION
It has been concluded from the report that proper financial management is very much
essential in order to improve financial performance of company. The other fact which has been
found during the study is that contract as well as employment law has direct effect ion business
decisions. It has been concluded that an effective coordination as well as communication
between employees working in specific functional department is very much essential in order to
achieve desired goals.
The several techniques have been suggested which can be utilized by manager in an
organization for ensuring an effective communication as well as coordination between employee
in particular department.

REFERENCES
Books and Journals:
Agrawal, R.K., 2018. Principle of Management Accounting. Educreation Publishing.
Ansoff, H.I., Kipley, D., and Ansoff, R., 2019. Implanting strategic management. Springer.
Edghiem, F. and Mouzughi, Y., 2018. Knowledge-advanced innovative behaviour: a hospitality
service perspective. International Journal of Contemporary Hospitality
Management. 30(1). pp.197-216.
Federici, E., Boon, C. and Den Hartog, D.N., 2019. The moderating role of HR practices on the
career adaptability–job crafting relationship: a study among employee–manager
dyads. The International Journal of Human Resource Management. pp.1-29.
Haigh, R., 2018. Legal English. Routledge.
Lewis, D. and Vandekerckhove, W., 2018. Trade unions and the whistleblowing process in the
UK: An opportunity for strategic expansion?. Journal of Business Ethics.148(4). pp.835-
845.
Mansour, H., Aziz, W. and Said, E.H., 2019. Influence of Quality Management Principles on
Employees' Performance in First Class Hotels: A research in Alexandria
City. International Journal of Heritage, Tourism, and Hospitality. 12(2/2).
Orazulike, U., 2018. Post-Brexit Threats to Work Safety and Health Standards and Good
Working Conditions in the UK. Psychosociological Issues in Human Resource
Management. 6(1). pp.63-95.
Reilly, P., 2018. Building customer centricity in the hospitality sector: the role of talent
management. Worldwide Hospitality and Tourism Themes. 10(1). pp.42-56.
SHARMA, B. and Gursoy, D., 2018, June. HRM Practices in Hospitality and Tourism Industry:
A Review of the Literature. In 8th ADVANCES IN HOSPITALITY AND TOURISM
MARKETING AND MANAGEMENT (AHTMM) CONFERENCE(p. 28).
Shum, C., Gatling, A. and Shoemaker, S., 2018. A model of hospitality leadership competency
for frontline and director-level managers: Which competencies matter more?. International
Journal of Hospitality Management. 74. pp.57-66.
Sobaih, A.E.E., 2018. Human resource management in hospitality firms in Egypt: Does size
matter?. Tourism and Hospitality Research.18(1). pp.38-48.