Hospitality Business Toolkit

This project provides a comprehensive toolkit for hospitality students, covering key areas like financial management, human resource management, communication, and organizational structure. It includes practical examples, case studies, and a detailed analysis of the hospitality industry.

Hospitality Business
Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1 Principles of managing and monitoring financial performance.......................................1
P.2 Applications of double entry book keeping and basic trial balance system.....................3
TASK 2............................................................................................................................................5
P.4 Stages of HR life cycle for retaining and developing talent............................................5
P.5 development of performance management plan..............................................................8
TASK 3 .........................................................................................................................................10
Covered in PPT.....................................................................................................................10
TASK 4..........................................................................................................................................10
P.8 Interrelation between different functions and roles within hospitality sector................10
P.9 Different methods of communication, ordination and monitoring applied within specific
department of the organisation.............................................................................................13
CONCLUSION..............................................................................................................................14
REFRENCES.................................................................................................................................15

INTRODUCTION
Industry of hospitality is defined as a service industry which deals in travelling, cruise
line, conveyance, theme park, event planning and living accommodations (Bowie and et.al.,
2016). It is amenable for accommodations and food services in places like restaurants,
conference centres, resorts, hotels or theme parks. In this report, Milano La salsa restaurant is
taken into reference. It is present in Bishops gate, London. It renders its services by offering
salads which blended with smoothies and juices. Furthermore, they have opted for fresh juices so
that customers may not be provided with any kind harmful products. In this report, financial
performance is monitored and managed. Furthermore, balance sheet and basic trial balance is
presented. Furthermore, life cycle of HR is provided and their carrying out direction is evaluated.
Structural function and performing in terms of skilfulness and communication are provided.
TASK 1
P.1 Principles of managing and monitoring financial performance
For carrying out operations and functionalities of organisation effectively, it is necessary
for them to maintain their finance. Finance refers to administration of money which is involved
in accomplishment of activities such as forecasting, saving, budgeting, lending, borrowing and
investing. According to given scenario, Milan La salsa is giving services in inventive healthy
salads which are integrated with juices and smoothies. They have analysed that market is highly
competitive and it is becoming complex for them to gain advanced profitability. For this
management of restaurant needs to bring off and admonisher financial performance, for this they
need to acknowledge some principles, they are mentioned below:
1. Establishment of budget: Restaurant needs to acknowledge all the resources which
they need for accomplishment of objectives and goals (Sing, 2015). For this,
management needs to take essential measures by which they can address financial
performance on day to day basis, evaluate different transaction errors and their effects
within organisation.
2. Exhaustive synthesis of budget: Management of Milano La salsa needs to formulate
their intention of budget, this signifies that for what all they need money and this must
be on the basis of their organisational goals and objectives. They need to have to
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effective strategies for this, so that they do not fall into any kind of shortage related with
resources in future.
3. Budget must be compared with financial outcomes on day-after-day basis: By this
they can analyse different errors which have occurred in transaction, discovery of
changes which have been occurred within business organisation and measuring of
business action to identify their profits (Anderson and et.al., 2017). This will assist
management to ensure that any kind of unneeded expenditures have not occurred.
4. Alterations in plans if financial outcomes have exceeded planned budget: When
such kinds of conditions have been occurred within organisation, then management of
Milano La salsa restaurant needs to evaluate reasons behind same and take reasonable
steps so that this do not occur again.
On monthly basis, real origin of financial gain and financial loss which have been
occurred within restaurant can be evaluated. In this way it can be done:
Origin of Income
(Incomings)
Kind of expenditures
(Outgoings)
payoff Weekly food shopping
Gifts Clothes
Benefits
Gifts and meal
Acquisition
Reimbursement Family secondary bills
Hence, this is necessary for administrator of Milano La salsa restaurant to have their
financial statement by which they can keep an eye on their financial performance. Moreover,
they need to have their own financial ratios, working capital statements, trial balance and
inventory records. This will aid them to identify exact flow of money with relation to business
execution.
Statement of important business terms:
i) Gross sales: This term indicates transaction which has been occurred with respect to
buying and selling of products. It is in form of money which includes credit sales and
cash. This will assist management of Milano La salsa to have details of services which
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are given in form of products and received in form of money, expenses which have
occurred, sales and balance which is collectable.
ii) Purchase: In this stock and inventory purchase is made available for selling purpose and
is identified for calculating goods cost.
ii) Purchase: Here, in this account, stock purchases and stock available for sale is measured
for acquiring cost of goods. For example: In Refreshment Juice Corner, initial stock
balance is 40k £ and purchase 70k £ for stock, then expenditure which is involved in
selling of goods is calculated for a month with inventory balance of 10k
(Opening stock + Purchase – closing stock) = cogs
(£40,000 + £70,000 - £10,000) = £1,00,000
iii) Kind of expenditure: They are necessary financial loss which will be premeditated for
measurement and monitoring of action. It is classified into capital budgeting, financial
accounting, cost accounting, monetary fund and many others. As per this cost can be
grouped into variable and fixed cost. Variable cost is defined as cost which change state
when input is changed. This means that outcome is directly proportional. Example labour
and material cost, electricity bill, goods cost, etc. Fixed cost refers to price which do not
change with outcome. Example insurance, labour wages, rent etc.
P.2 Applications of double entry book keeping and basic trial balance system
Double entry books system include transaction that are divided into two different
account. In relation with Milano La Salsa restaurant, it is essential for their decision maker to
make sure that there accounting transactions and equations in a formative manner and all the
transactions in relation to assets and total of liabilities are equally balanced (Benckendorff and
et.al., 2015). For example:
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Inquiry of gross sales and purchase transaction to compile a trial balance suing double
entry system:
Sales: In this there is total estimation of credit and cash estimation of business
transactions of Milano La Salsa restaurant is mentioned. In context with, restaurant there overall
sales margin include wages and other monetary factors.
Purchase: It includes approximation of credit amount and transaction of cash which are
linked with weekly purchase of salads, juices and smoothies.
Based on above table trial balance of double entry bookkeeping is shown below:
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P.3 Arrangement of basic trial balance by applying balance off rule:
Balance off rule: In this leftover proportion of ledger account is brought in future year. It
is also referred to as balancing off accounts at the end of specific accounting time period
(Sriprahastuti, 2018). This procedure is carried to acknowledge exact balance of every ledger
account by which trial balance can be attained which is a crucial portion of accounting cycle. It is
mandatory for Milano la salsa to have day to day basis check on trial balance sheet by which
financial statement can be formulated.
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From above trial balance it can be concluded that transactions are recorded in effective
manner so that balance of trial sheet can be maintained. Within trial balance, it is approximate
allocation of different resources with respect to expenses and incomes as per accounting
principle. Matched trail balance sheet signifies that accounting principles are effectively as well
as systematically maintained.
TASK 2
P.4 Level of HR life cycle for retaining and developing talent
Life cycle of HR is obsessed with various level by which employees undergoes and role
of HR at specific stage. There are five point, which are explained below:
Recruitment: It defines as hiring correct person, it has signifiant effect on system in
terms of development, productivity and ratio (Foster and Carver,2018). Milano la salsa restaurant
require to measure their needs with regard to vacancies, expectations and strategies for attracting
best.
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On-boarding: When right nominee get chosen they will get aboard education in which
HR of respective centre mainly focus on establishing relationship with new employees and old
employees. This can be done for time period of 90 days in which new employees know about on
the job environment and there task or jobs.
Education: In Milano la salsa, this procedure is started when new individual join their
organisation. It is essential that new employee must be cognizant of their responsibilities, role
and expectations of organisation. HR of Milano la salsa needs to communicate organisational
culture and values, train their employees and introduce them to colleagues.
Motivation: In initial faces, training rate is high due to deficiency of effectual
motivation. In this case, HR of Milano la salsa propel new worker by engaging them, performing
at high level and understanding their share by which concern can turn prosperous.
Evaluation: Inside Milano la salsa restaurant, superordinate measures and evaluates the
performance of employee. Based on that they are given metrics which helps them to determine
whether they are liable for specific occupation or not. Apart from this, training and development
is offered to them which will help them to accomplish their goals.
Celebration: This form gives possibility to reenergize employees and realize them for
their effort in specific project (Nayak and Taylor,2018). HR of Milano la salsa provides specific
benefits like extra paid time off, gift cards and others to their employees.
Box 1 They can be located at right place depending upon their experience and qualification.
Box 2 Candidates who have desirable ability set and experience can be interviewed.
Box 3 Cracking questions are:
 What are your capability and imperfection?
 Why we should engage you?
 Do you have experiences in speed typing?
 What do you interpret by your position and work?
Awful questions are:
 Are you single?
 What is the worst thing you have done in previous job?
Box 4. Induction program is organised within organisation so that new employees can be given
information related to responsibilities which they have to perform. This is done to make
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employees alert about working of organisation and what they have to do. It covers detailed
content about function, their rights, terms and conditions related with employment.
Box 5: For performance review respective restaurant compare past performance of employees
with performance after training and development session. By this they able to know that
employees is adapting situation in effective manner or not.
Box 6. Concern can limit their objectives and goals within stipulated time when they skilled and
developed. New worker can gain knowledge with regard to current direction which can help
them.
Box 7: Promotion is related to state in which a individual get succession and increase according
to there work and job performance. It is essential for organisation director to boost employees
because by it they feel motivated and retain at workplace for long time.
Box 8. Employees leave job due to bad on the job conditions, dissatisfaction, conflicts or others.
They can be prevented by providing them with effective environment and conduct different
interaction sessions so that their difficulty can be addressed.
Box 9. What is the rational motive behind this? Do you feel that activity you were doing here is
interconnected with your personal interests and goals. Followings are the some other questions at
the time of exist:
 Why are you leaving current position?
 How was your relation with your manager?
 Do you want to give any advice or suggestion?
Value of HR life cycle to management: HR life cycle is crucial for all structure because
by it manager able to engage right worker and hire them for a long time period (Ervin, 2016).
Several leading importance of HR life cycle in regard of Milano la salsa such as by this HR
manager of respective institution is able to recruit right and effectual worker according to
position or recruitment. When this Milano la salsa follow this they train and create there
employees ability which assist them in conducting work or task in approaches manner and given
time period .Apart from this they also competent to hold staff for long term which help them in
saving cost of recruitment on daily basis. They also capable to get idea and proposal from
employees which help respective company in conducting improvement. More over by this
several restaurant able to bear employees and staffs for a long time.
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Recommendation: HR procedure must be increased, for they must follow new scheme
by which they amend their planning within HR life cycle. Apart from this, Milano la salsa need
to examine marketplace and actual direction. This will help HR to supply employees with special
education training and improvement programs.
P.5 development of performance management plan
Performance management plan refers to technique and tool which is conducted by a
company in order to raise employees performance (Gnanapala, 2017). By this employees are
capable to amend there performance and grab possibilities in effectual style. Milano la salsa
conduct performance management plan to measure and investigate employees performance.
Respective company create performance management plan to resolve issue of employees who
are coming late to office.
The role play script which is develop on the issue of employees are behaving ill-
mannered at workplace. Discussion on this issues with employee and manager of Milano la salsa
is given below:-
Script 1:
Manager: I am observing and analysing that Mr. Albert is behaving rude and annoying
to every staff, do you have any idea behind this?
Staff : Yes sir, this is so because Mr. Albert is feel overburdened due to work pressure.
May be due to this he is feel irritated and behaving rude.
Manager: Okay I understand So do you have any ideas to overcome this?
Staff: Yes sir, according to me you must add more members in Mr. Albert teams so that
work presser get reduced and he able to conduct work in proper manner.
Manager: Okay, I will arrange or hire more employees accordingly. But along with this I
also want to organized training sessions for you so that you can handle pressure in appropriate
and effective manner.
Staff: Okay thank you sir for understanding Mr. Albert problems.
Manager: I hope after that session Mr. Albert able to handle work in effective manner
and attain goal.
Script 2:
Manager: I am observing and analysing that Mr. Albert is behaving rude and irritating
to every staffs?
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Staff: Yes sir, I also feeling this and other employees also discussing about it.
Manager: Do you have any idea why he is having like this?
Staff: No sir, I asked Mr. Albert why he is behaving like this, then he reply I don't want
to talk to you and I don't care about other.
Manager: Okay, then inform Mr. Albert that if he won't do as per instructions we have to
take some strict action.
Staff: Okay sir, I will inform him.
Problems in retention as well as talent acquisition into food and beverage industry:
Now a days food and beverage is considered as a fastest growing sector that concentrate
upon fulfilling the requirements of the clients. This particular industry involves theme parks,
hotel, restaurant etc. but manager of this industry have to face the challenges as well as problems
in obtaining and retaining talents. Few of them are staff members acquiring less salary and into
this sectors chances are going on as per the wants and trends. Because of that firm have to
recruit new workers who has proficient skills and capability. Herein, whole staff are not ready to
adopt modification oftenly. So, because of this, they are tackling difficulties in staff hiring as
well as retaining in an effectual way.
Factors to a particular hospitality job within the food and beverage sectors:
Within the food and beverage industry, requirements of the clients are changing
continuously because of that respective firm manager have to recruit staff consequently.
Therefore, it can accomplish the wants as well as requirements of consumers and this is tough to
find that which individuals have more flexible ability. Also, they has to perform recruiting as
well as firing procedure as per the requirements of the clients in appropriate and effectual way.
For example: Milano La salsa restaurant is recruiting receptionist and during the period of hiring
it faces some challenges that are explained in the above discussion. Like respective firm want to
recruit receptionist who know various languages as well as adapt changes in simple manner. But
they are providing less salary that is demanded through effective applicants.
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TASK 3
Covered in PPT
TASK 4
P8. Interrelationship among various functions and roles in hospitality industry.
Organizational chart of Hotel:
Theme park organisation chart:
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Hospital (Food & Beverage department structure):
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(Source:Organizational chart, 2015)
The Framework that are shown in the above chart is of hospitality sectors
(Organisational Chart, 2015). There are various level as well as it has their own roles as per its
positions that they are performing (Kibirango Munene and Mutumba, 2018). Effectual plan of
the management assists to determine functional roles and also that are related with one another as
most of them are depends upon one another. It helps in facilitating smoothness in various
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functionalities and operations of the firm. These all functions are interrelated because the work
of one department is based upon the second one.
P.9 Various methods of communication, ordination and monitoring used in particular section of
the organisation
Various communication, ordination as well as monitoring methods are explained below:
Conference: When higher authority as well as the members of boards are conducting
meeting on something then this type of communication methods is used (Chung and Chung,
2018). With the assistance of this process, it can develop strategies, make decisions as well as
continue with the appropriate discussion. Beside this, it can also performed video conferencing
in case any person are not capable to participate into meeting.
Seminars: In the context of big firm, they required to conduct seminars for motivating as
well as inspiring its staff members. With the help of it whole workers can get inspired.
Emails: Herein, messages are delivered to its workers regarding appropriate subjects ot
topic. It is the method that is applied to communicate with staff in formal manner.
Text Massage: This is considered as an informal method that deals with the delicate
problems where only specific worker is undertaken (Filimonau and Delysia, 2019). It is also
useful to assure privacy.
Recommendation: This have been examined that administration should use these types
of methods in order to accomplish increased performance as well as has effectual chain of value
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into firm. Managers have to be motivated for setting up the structure where all these methods can
be executed effectually.
CONCLUSION
As per the above report it have been summarised that hospitality is one of the broad
concept that usually provides services to general people according to its need and preferences.
This sector has been facilitating a specific experience in journey of individual experience.
Moreover, the leaders are adapting many norms as well as legislation so that firm can maintain
their business operation and function. Eventually, developing different strategies and assumption
so that a firm can sustain for the longer durations. Therefore, as per the current scenario
hospitality is broader industry which aids into economic growth through facilitating many
opportunities for job as well as individuals living standards in effective ways.
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REFRENCES
Books and Journal
Bowie, D. and et.al., 2016. Hospitality marketing. Routledge.
Singh, R., 2015. Empirical examination of the impact of total quality services on hospitality
industry business. Journal of Quality Assurance in Hospitality & Tourism. 16(4).
pp.389-413.
Anderson, W. and et.al., 2017. The dialogue and advocacy initiatives for reforming the business
environment of the tourism and hospitality sector in Tanzania. Tourism Review.72(1).
pp.45-67.
Benckendorff, P. and et.al., 2015. Creating educator resources for online simulation-based
pedagogies in tourism and hospitality. CAUTHE 2015: Rising Tides and Sea Changes:
Adaptation and Innovation in Tourism and Hospitality, p.67.
Sriprahastuti, B., 2018, January. POLICY ANALYSIS ON INTEGRATED CHILD CENTER-
CORPORATE SOCIAL RESPONSIBILITY: CASE STUDY ON HOSPITALITY
BUSINESS SECTOR IN INDONESIA. In Proceedings of The International
Conference on Social Sciences (ICSS) (Vol. 1, No. 1).
Foster, M. and Carver, M., 2018. Explicit and implicit internationalisation: Exploring
perspectives on internationalisation in a business school with a revised
internationalisation of the curriculum toolkit. The International Journal of Management
Education. 16(2). pp.143-153.
Nayak, R. and Taylor, J.Z., 2018. Food safety culture–the food inspectors’ perspective.
Worldwide Hospitality and Tourism Themes. 10(3). pp.376-381.
Ervin, S.A., 2016. Social Business Plan and Publishing Proposal for Global Toolkit.
Gnanapala, W.A.C., 2017. Public relations in hospitality marketing. Routledge Handbook of
Hospitality Marketing.
Schwager, P., Decker, N. and Kaltenegger, I., 2016. Exploring green chemistry, sustainable
chemistry and innovative business models such as chemical leasing in the context of
international policy discussions. Current Opinion in Green and Sustainable
Chemistry.1, pp.18-21.
Kibirango, M.M., Munene, J.C. and Mutumba, A., 2018. Makerere University Business School
co-evolution journey: the role of extraordinary performers. Emerald Emerging Markets
Case Studies. 8(3). pp.1-16.
Chung, G. and Chung, D., 2018. WOW the hospitality customers: Transforming innovation into
performance through design thinking and human performance technology. Performance
Improvement. 57(2). pp.14-25.
Filimonau, V. and Delysia, A., 2019. Food waste management in hospitality operations: A
critical review. Tourism Management. 71. pp.234-245.
Online
Organisational Chart, 2015.[Online].Available through<http://www.gidb.org/organization-
structure-organization-chart>
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