Hospitality Business Toolkit (doc)
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Added on 2020-10-22
Hospitality Business Toolkit (doc)
Added on 2020-10-22
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Hospitality BusinessToolkitTable of Contents
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a) Recording all expenditures and incomes with the help of table.............................................1b) Explaining following terms as pertains in hospitality industry. ............................................1c)Double entry book keeping system of debits and credits to record sales and purchasestransactions in general ledger......................................................................................................2d) Basic trial balance applying the use of balance off rule to complete ledger...........................3TASK 2............................................................................................................................................4a) Different stages of HR life cycle applied to food and beverage hospitality job role and theirimportance for retaining and developing talent..........................................................................4b) Importance of HR life cycle in relation to strategic talent management and overcomingissues of staff retention................................................................................................................6c) Judgements and recommendations of HR processes and documents can be improved foreffective talent planning throughout HR life cycles...................................................................7d) Performance management plan for hospitality job role and techniques for resolving bothnegative behaviour and overcoming issues of staff retention.....................................................7TASK 3............................................................................................................................................9a) Specific legislations that a hospitality organisations has to comply and adhere.....................9b) Using specific examples illustrating company, employment and contract law potentialimpact upon business decision making in hospitality industry.................................................10c) Examining potential implications of regulations, legislations and standards upon decisionmaking in a hospitality organisation.........................................................................................10d) Critically reflect on potential impacts of regulations, legislations and ethical principlesupon decision making in a hospitality organisation..................................................................11TASK 4..........................................................................................................................................11a) Different functional roles within hospitality sectors.............................................................11b) Different methods of communication, coordination and monitoring applied to hospitalityfor strengthening value chain....................................................................................................14c) Analyse different methods of communication, coordination and monitoring withindepartment of hospitality organisation for achieving organisational objectives andstrengthening value chains........................................................................................................15
d) Critically analyse different methods of communication, coordination and monitoring withindepartment of hospitality organisation and make recommendations........................................15CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONHospitality industry is a quite vast sector of a business environment. It infuses a quitebroad category of fields and divisions which are present within service industry. Various servicesprovided by this sector includes lodging, cruise lines, theme parks, event management and so on.It is basically an extension of the tourism industry. It is a customer oriented industry thatfocusses on enhancing customer's satisfaction by great extents (Anderson and et. al., 2017). Thisreport in present context has been framed on Berries and Brew which has been set up in London,UK as a juice bar and smoothie cafe. It has innovated presently and launched a new innovation intheir product line by bringing a mix of alcoholic drinks and fresh fruit juices. This reportcombines various elements such as stages of HR life cycle along with developing an effectiveperformance management plan. Various hospitality roles and organisational chart has also beenmentioned in this report. Furthermore various laws and legislations along with interrelationshipof various hospitality roles has been mentioned in this report. TASK 1P1 Recording all expenditures and incomes with the help of table.Financial performance in present scenario has been defined as a process which aids inmeasuring performance of business concerns in respect of monetary terms. In present context ithas been evaluated that Berries and Brew cafe will have to face complications so as to enhancetheir profitability. Various tools that help in ascertaining financial position has been stated asunder: Principle I: Budget must be properly established – In this principle managers first willhave to establish mandatory resources in a business. By doing so they will be able to analysetheir financial requirements and budgets. Principle II: Budget should based on thorough analysis – This principle deals withanalysing overall expenses that occur in a business on daily basis. Hence it is important that theyshould frame effective strategies in this context.Principle III: Actual Financial result should compared to budget on daily basis – Byadopting this tool or principle organisation will be able to analyse and determine any sort oftransactional errors which have to be modified. 1
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