Small Hospitality Business

Small Hospitality
Business

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK 1............................................................................................................................................4
P.1. Discuss the main consideration a small business or social enterprise needs to address
when planning and allocating resources to achieve business objectives ? ...............................4
M.1. Apply suitable tools and techniques in a structures and analytical way to plan and
allocate resources in context to organisation?............................................................................5
M.2. Assess the importance of planning and allocating resources to achieve the objectives of
business? ....................................................................................................................................6
D.1. Critically analyse the application of appropriate resources to demonstrate link between
resource, allocation and achievement of business objectives?...................................................6
TASK 2............................................................................................................................................6
P.2. Explain and evaluate different process of customer relationship management for small
business or social enterprise?......................................................................................................6
P.3. Explain how small business can develop traditionally and determine drawbacks and
benefits........................................................................................................................................7
M.3. Apply and evaluate the element of the customer relationship management process in
relation to achieving objectives of the business?........................................................................8
M.4. Evaluate the potential to develop transanational operation using the stage model of
internationalisation , assessing both benefits as well as challenges?..........................................8
D.2. Critically evaluate the customer relationship management process at all stage and
provide recommendation for over coming challenges of developing transnational operations.
.....................................................................................................................................................9
Task 3..............................................................................................................................................9
P.4. Produce an annual itemised monthly cash flow forecast showing fixed and variable costs
set against income for specific organisation?.............................................................................9
P.5. Explain in detail how break even analysis could be applied to an organisational situation.
...................................................................................................................................................10
P.6. Interpret key financial statements for an organisation in relation to how they contribute to
successful management of the company?.................................................................................11

M.5. Application of suitable quantitative and analytical techniques to provide detailed cash
flow forecast as well as break even analysis? .........................................................................13
D.3. Produce an accurate cash flow forecast and break even analysis with critical evaluation
of how key financial statements contribute to the successful management of the business?...13
P.7. Discuss key legislation and regulations that have implication on small business or social
enterprises?...............................................................................................................................13
M.6. Evaluate the implications of key legislation and regulations in an organisational context?
...................................................................................................................................................14
D.4. Critically evaluate key legislation and regulations that affect smalll business or social
enterprise organisation taking future developments and change into account? .......................14
CONCLUSION ............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Small business enterprises involves those organisations which need small fund to
perform operational activity. It is the duty of managers to make control over the affairs of the
company so that workforce perform their task properly which helps in achieving targets that are
set by mangers in the entity. To all type of companies it is necessary to follow all principles of
accounting ,Act, accounting standards , rules & regulations etc. so that it become possible to
formulate financial statements properly in most accurate manner (Ahmad, 2019).Various
strategies are followed by managers to run small business effectively through attaining higher
profits as well as to increase sales. Main objective of the project is to analyse need and
importance of managing small business. Company that was selected for this assignment is John
and Jerry. Various topics are cover under this assignment such as small business plans as well as
allocation of resources in terms to achieve objectives. Evaluation of small customer relationship
management are also explain in it. Cash flow analysis, budget forecasting, Calculation of
B.E.P. , interpretation of all financial statements,On the other hand implications of all regulations
on small business are tends to include in this report.
TASK 1
Overview of the chosen company
Haytor hotel is the hospitality business, It is an elegant detached early Victorian villa
established in the year 1835 and also set in beautiful gardens. The hotel is located in
conservation area on leafy and peaceful Meedfoot road.
P.1. Discuss the main consideration a small business or social enterprise needs to address when
planning and allocating resources to achieve business objectives ?
Resource allocation & their planning is very complex process as manager of hospitality
industry need to pay high attention for allocation of resources to different departments of the
company. For example Executive and management team of Havtor hotel consider many factors
to do planning. Few of these factors are explain in details in below paragraphs (Boone, 2021).
Workforce and their skills- In every organisation human resource is considered as
precious assets because they are concerned with business execution activities. Experience,