The Hospitality Business Toolkit

This report discusses the principles of managing and monitoring financial performance, double entry bookkeeping system, HR life cycle, legislations in the hospitality sector, and functional roles in hospitality. It focuses on Carnival UK, a British American Cruise operator, and provides insights into their practices and approaches. The report also highlights the importance of talent retention and development in the hospitality industry. Get study material and solved assignments on Desklib.

The Hospitality
Business Toolkit

INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Investigate the principles of managing and monitoring financial performance...............1
P2. Double entry book keeping system of credits and debits in order to record sales and
purchase transactions in the general ledger............................................................................3
P3. Balance off rule in order to complete the ledger..............................................................7
TASK 2............................................................................................................................................9
P4. Review the several stages of HR life cycle in order to apply in a particular hospitality job
role and their significance for retaining and developing talent..............................................9
P5. Develop the management plan for a particular hospitality job role applying techniques to
resolve negative behaviours and reduce the issues of staff retention...................................10
TASK 3..........................................................................................................................................12
P6. Specific legislations adhere within the hospitality organisations...................................12
P7. Impact of company's employment and contract law on decision making within hospitality
industry.................................................................................................................................12
TASK 4..........................................................................................................................................14
P8. Several functional roles with in the hospitality sectors..................................................14
P9. Several method of communication, coordination and monitoring within department of
hospitality organisation........................................................................................................17
CONCLUSION..............................................................................................................................18

INTRODUCTION
Hospitality is one of the fastest and leading sector within which different types of
organisations perform their functions and offers wide range of services as to satisfy customer
needs. In context with the hospitality business toolkit there are different types of organisational
practices which are mainly based upon practical and inclusive approach. With the help of these
approaches organisation can effectively able to manage their process, action plans and self
declaration activities (Alfes, 2013). This report is based on Carnival UK which is a British
American Cruise operator and it claims to offer world largest leisure travel services.
Organisations currently have 100 ships that engage in the offering of Hotel style events,
accommodations, entertainment shows, food, cross travel and tourism services to their
customers. In this report formative discussions has been made on HR life cycle with the help of
which organisation can actually able to manage their performance as per going to job role. In
addition with this report covers different types of laws and legislations in context with hospitality
sector required to be undertaken.
TASK 1
P1. Investigate the principles of managing and monitoring financial performance
Finance is lifeblood in each and every organisation despite of their size and scope.
Finance is always concern towards investing in Assets and liabilities while undertaking risk in
order to increase financial efficiency of organisation. With the help of suitable and continuous
financial flow business organisations can actually able to operate their functions. Thus, with the
help of proper monitoring and managing of financial performances carnival UK can effectively
able to conduct their operation even in difficult situation mention below there are some
principles:
Budget must be properly form major focus of an organisation is to effectively manage
their resources as to fulfil business objectives in well define manner. In context with carnival UK
organisations are required to evaluate each and every aspect of the financial performance on
continuous basis in order to frame budget in appropriate manner.
Budget should be based on effective analysis managers of Carnival UK required to
effectively concern financial budget as to perform their daily basis organisational activities as per
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according to company pre determined values this will help entity to accomplish their goals and
missions in well effective manner. In order to accomplish this carnival UK can undertake
concept of financial techniques as to further enhance their future benefits.
Realistic financial results should be maintained with daily basis budget activity with
the help of this principle organisation can effectively able to decrease the transactional errors.
For this financial aspects are required to evaluate effectively by business organisation to compare
their Financial Service on daily basis budget activities. This helps them to analyse the gap with
the help of which entity can take preventive measures to fill those gaps as to avoid unnecessary
expenses.
Determine the condition when financial research exceed the planned fund it is
important for UK control manager to effectively identify actual reason behind variances in
financial results if it exceeds to the planned fund. Thus with the help of different type of
strategies manager can able to take preventive measures as to overcome main reason behind
financial exceeding.
Thus, it has been recommended to carnival UK manager to take advantage of effective
financial statements in order to manage their financial performance. In order to accomplish this
managers are required to evaluate and frame working capital, trial balance, financial ratio and
inventory records in well effective manner as to manage the organisational functions. This will
help them to determine actual cash flow with the help of which entity can gain various
advancements in financial terms.
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P2. Double entry book keeping system of credits and debits in order to record sales and purchase
transactions in the general ledger
In context with, accounting double entry book-keeping system, this effectively helps in
keeping book-keeping in an effective manner. Double entry book-keeping system hold equal
corresponding that is mainly in debit and credit form. In context with, Carnival UK there is a
requirement of effectively ensure that different types of accounting equations such as sum
liabilities, assets are managed in well defined manner. In order to elaborate area table is
mentioned below:
Journal Entries
Date Particulars Debit Credit
Feb, 1 Purchase account 5001
To Kate's kitchen
account 5001
Feb, 1 Purchase account 29552
To Harry's account 29552
Feb, 3 Beverage account 11203
To Sales account 11203
Feb, 3 Food account 1824
To Sales account 1824
Feb, 1 Kate's kitchen account 5001
To Bank account 5001
Feb, 10 Beverage account 8966
To Sales account 8966
Feb, 10 Food account 1687
To Sales account 1687
Feb, 14 Bank account 2008
To Megaane account 2008
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Feb, 17 Beverage account 11710
To Sales account 11710
Feb, 17 Food account 1611
To Sales account 1611
Feb, 22 Harry account 29552
To bank account 29552
Feb, 22 Food account 7013
To Kate account 7013
Feb, 24 Beverage account 10614
To Sales account 10614
Feb, 24 Food account 1715
To Sales account 1715
Ledger: It is mainly a collection of financial accounts. Leader is a principle book within
which recording of financial transactions are done. In this debit and credit transactions are
recorded in separate columns along with opening of monitory balance and end of monitory
balance.
Ledger Accounts
Beverage Account
Date Particulars £ Date Particulars £
03/Feb To sale 11203 28/Feb By balance c/f 42493
10/Feb To sale 8966
22/Feb To sale 10614
17/Feb To sale 11710
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Total 42493 Total 42493
Sales Account
Date Particulars £ Date Particulars £
03/Feb By Beverage 11203
03/Feb By Food 1824
10/Feb By Beverage 8996
10/Feb By Food 1687
17/Feb By Food 1611
17/Feb By Beverage 11710
28/Feb To balance c/f 49360 22/Feb By Beverage 10614
22/Feb By Food 1715
Total 49360 Total 49360
Food Account
Date Particulars £ Date Particulars £
03/Feb To sale 1824
10/Feb To sale 1687 28/Feb By balance c/f 6837
22/Feb To sale 1715
17/Feb To sale 1611
Total 6837 Total 6837
Meganne Account
Date Particulars £ Date Particulars £
14/Feb By Bank 2008
28/Feb To balance c/f 2008
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Total 2008 Total 2008
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P3. Balance off rule in order to complete the ledger.
Balancing off rule effectively states that in different types of situations in which account
include both debit and credit entries then with the help of this concept balance off rule can be
effectively consider. Thus,
Trial Balance: It is consider as an accounting statement which include debit and credit
within double entry account book.
TRIAL BALANCE
S. No Particulars Debit Credit
1 Purchase A/c 34553
2 Sales A/c 49360
3 Kate's Kitchen A/c
4 Harry A/c 2008
5 Beverage A/c 42493
6 Food A/c 6837
7 Bank A/c 34553
8 Meganne A/c 2008
9 Suspense A/c 30
TOTAL 85921 85921
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TASK 2
P4. Review the several stages of HR life cycle in order to apply in a particular hospitality job
role and their significance for retaining and developing talent.
In context with present scenario, HR department of UK carnival acts as key essential
element and play responsibilities to effectively maintain, retain and offer different from of
developmental programmes to their workforce. Within restaurant business HR manager, hold
different types of responsibility within which there are five stages which are required to be
effectively considered as to maintain workforce efficiency in well effective manner. These stages
are covered in the aspects of recruitment, education celebration, evaluation and motivation which
are further discussed below:
Recruitment:
This is considered as a initial stage in HR lifecycle in which HR manager of an
organisation are authorised to formulate decision making in best effective manner as to hire
potentially skilled and right candidate for organisation job role. In addition with this in this stage
HR manager are also responsible to prepare strategic recruitment process as to fulfil organisation
goals in well effective manner. This approach benefits HR manager to recruit experienced Chef
for restaurants. With the help of benefits and compensation tools HR manager can effectively
attract talented candidates towards organisation.
Education:
This is one of the most prominent stage within HR lifecycle, in this HR manager holds
one of the great responsibility which is tend towards providing education to employees in terms
of actual Vision and Mission company goals along with their job roles. This will help candidates
to facilitate their job performance. By knowing Rules and responsibilities employees can
effectively perform their job role without wasting time. In context with carnival UK, HR
manager is required to communicate organisation main role, responsibility, mission, vision and
objectives. With the help of this building of positive and good environment within organisation
can be made.
Evaluation:
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This stage of HR life cycle is concern towards taking supervisory measures in order to
evaluate overall performance of workforce within organisation as to effectively increase their
working efficiency. In context with UK Carnival, major responsibility that has been hold by HR
manager is to provide formative support and monitor employee performance on daily basis and
help them to provide training in developmental measures as to fill any skill deficiency within
employees. It will help in increasing and performance level of organisation and employees
simultaneous manner.
Motivation:
In order to increase employee job performance on daily basis motivation acts as a one of
the great efficient tool (Storey, 2014). HR manager of UK carnival is required to effectively
motivate their employees on continuous manner with the help of different motivation techniques
in order to increase overall efficiency of organisation.
Celebration:
This is last stage in HR lifecycle, in which it is essential to offer rewards and benefits to
work force as to increase their working capabilities. By doing this, Carnival HR manager can
effectively able to increase loyalty in their employees that further initiate them to work with
more hard working nature as to increase organisation profitability.
Importance for retaining and developing talent:
Importance for retaining and developing talents holds great importance in an organisation.
Thus, in order to create best effective workforce organisation is required to effectively
understand overall concept of HR life cycle. With help of this Carnival UK, HR manager can
effectively able to increase their performance efficiency in context with talent management and
retention. With the help of different Tools and techniques HR manager can effectively able to
retain their employees for long time. In addition with this with the help of different types of
motivation techniques performance of workers can be effectively encouraged towards more
growth prospectus.
P5. Develop the management plan for a particular hospitality job role applying techniques to
resolve negative behaviours and reduce the issues of staff retention.
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Management plan
It is considered as an essential element with the help of which daily basis activities can be
accomplished in well defined manner. With the help of this organisation can effectively able to
handle money and further deal with actual working structure of Organisation. In order to
effectively manage organisational operations in well defined manager mention below there are
some aspects on which management plan is based:
Accomplished goal
As to effectively accomplish organisational goals HR manager is required to take
advantage of innovative ideas as to offer attractive services to the customers in order to attract
the attention towards company. In context with UK Carnival company is required to take
innovative measures and inventions in their products and services as to increase their
sustainability.
Availability of resources
This is one of the major aspects in marketing with the help of which organisation can able
to increase their competitive edges. In context with carnival UK, managers are required
effectively focus on each and every aspect of their inventory management as to fulfil
organisation demand which is related with resources. Availability of resources helps in ensuring
continuous work without any hindrances and accomplishment of goals in timely manner.
Techniques to resolve negative behaviours and reduce the issues of staff retention:
Listen:
This is one of the most effective techniques with the help of which workplace issues can
be resolved in best effective manner. This technique will help HR manager to offer accurate
attention to their work force with the help of which they can fulfil their needs and demands. It
further initiates increase in working efficiency of staff members that lead towards rise in
company profitability.
Work through the company processes:
In context with this process HR manager is required to improve their organisational roles
as to effectively fulfil employee needs as per according to their demands. In context with
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carnival UK, HR manager regularly engage in the evaluation of influence with the help of which
they overcome employee stress and create better working environment.
Thus, with the help of these essential techniques Carnival UK, HR manager can effectively
able to resolve conflicts and issues in that working structure and further initiate better working
conditions that simultaneously lead towards organisational and employees high end productivity.
TASK 3
P6. Specific legislations adhere within the hospitality organisations.
Equality act 2010:
According to this act organisation is required to treat each and every individual
workplace in equal manner thus, by treating every employee equally organisation can effectively
able to create better workplace atmosphere that ensure high and proficiency in employees job
performance. Thus, it is required for carnival UK management to ensure that employees in their
organisation are not getting discriminated on any basis.
Health and safety regulation 1981:
As per accordance to this act it is essential for all organisations to provide better
workplace organisation which is healthy and safe for employees. In addition with this carnival
UK is required to provide safety tools and measures to their employees as to decrease health
issues. This will help them to build positivity in their workplace structure that stimulates high
growth.
P7. Impact of company's employment and contract law on decision making within hospitality
industry
Policies and laws are associated with organisation, contract and employment. They create a
direct impact on performance of workers, business activities and employee relations. Thereby,
these types of laws create strong impact on decision making process which is being executed by
business to effectively address the goals and objectives of organisation. An example can be
considered to understand this, like Food Act, 1997 has strong impact on the ways in which
ingredients are being used in their drinks. As safety of their customers is top priority and
accordingly the decisions will be made. Health and safety act will make employees feel valued
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and their health is considered at topmost priority. By considering these laws the organisation
carries out their operation.
By acknowledging the values of rules and legislations of organisation, it has been
analysed that these laws assist organisation to minimise the chances of illegal business that are
carrying out their business. It is necessary to ensure that various laws are used by business so that
safety of both employees and employers can be addressed. This will create a significant impact
on performance of employees as if they have safe working environment then it leads to
enhancement in the performance of employees as well as entire organisation
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TASK 4
P8. Several functional roles with in the hospitality sectors
As to ensure business organisation functions efficiency entity is required to follow
numerous forms of roles as to gain more advantages. There are different types of factors with the
help of which company ensure formative structure of the organisation workplace within which
different roles and responsibilities are allotted to individual department. Some certain
departments are front office, finance, marketing, HR. In context with is mentioned below there
are some functions and roles within a hospitality sector:
Theme Park:
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Hotel:
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There are 4 types of functions which are playing by the HR manager within the hospitality sector
Planning:
Is the starting stage then which organisation management is required to formulate plan
and objectives as per according to organisation needs and demands with the help of good
decision making managers are required to frame plants in order to initiate other accompanied
functions in context with current value ke managers are required to take best effective decisions
as to encourage individual towards growth perspectives
Organising:
This functions organisation engage in the functioning of organised human resource and
other Essential elements within an organisation has to stimulate planning process and context
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with carnival UK and it always 10 towards analysing demand of the employees and customers as
to gain more advancements in competitive market
Leading:
This process is linked to words guiding team members in a formal manner as to
accomplish organisational rules in context with carnival UK leaders are required to take
advantage of various approaches with the help of which they can encourage staff members
towards more productivity in a motivated manner
Controlling:
in order to ensure that all functions are formulating as per according to feed it mind plan
it is essential for carnival UK to compare their actual performances from standards and father
take corrective measures in order to accomplish objectives in well defined manner
P9. Several method of communication, coordination and monitoring within department of
hospitality organisation.
Different method of communication
In order effectively accomplish organisational missions and objectives management are
required to ensure that proper flow of Communications are present within their structure. In
context with Carnival UK, company effectively satisfy their customers with different types of
services does there is a requirement for managers to take advantage of numerous forms of
communication techniques and methods with the help of which they can able to increase
satisfaction level among Their employees mentioned below different types of communication
methods.
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An analysis on different methods of communication, coordination and monitoring within
department of hospitality organisation
With the help of distinguish kinds of communication methods organisation can effectively
able to fulfil their requirements and accomplish objectives on daily basis in an effective manner.
There are different types of communication sources such as Sky Type, group meeting,
WhatsApp group etc that help organisation to effectively conveyance messages within whole
department. In context with Carnival UK, there are different types of segments and departments
thus, managers are recommended to take advantage of WhatsApp source of Communications
along with other online source in order to convey require a necessary information employees.
CONCLUSION
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As per the above mentioned report has been concluded that hospitality sector includes
different types of organisation that engage in the process of satisfying customers need. In order
to ensure efficiency of organisational function HR manager is required to consider various
expect in terms of recruitment, training and development, retention celebration and selection. By
providing training and development courses to individuals organisation can effectively able to
increase their skills and competencies. In addition with this in order to ensure smooth
functioning laws and legislations are required to be abiding by organisation as to facilitate
smooth process. Further with the help of different types of communication methods monitoring
of work can be ascertained well defined manner.
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