Hospitality Business Toolkit

This project provides a comprehensive toolkit for hospitality businesses, covering financial performance management, HR operations, and legal considerations. It includes practical examples, case studies, and a personal development plan for HR managers. The project aims to equip students and professionals with the knowledge and skills necessary to succeed in the hospitality industry.

HOSPITALITY BUSINESS
TOOLKIT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Principles of managing and monitoring financial performance of the organisation ...................1
Double entry book keeping..........................................................................................................2
Analyse and produce a trail balance............................................................................................4
TASK 2............................................................................................................................................5
Different stages of HR life cycle.................................................................................................5
Personal development plan..........................................................................................................6
Legislation to be followed by the organisation............................................................................7
Potential impact of contract, employment and company law on decision making......................7
TASK 3............................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Hospitality business is one of the major industrial sector that operates within a country.
The hospitality sector will look after the proper planning of business operations and thus, will
look after superior handling of the needs and demands of the customers. This will help ion look
after the needs and demands of the operations that are been carried out within the firm. In order
to carry out the operations in more significant and effective way, different department of the
organisations plays an effective set of operations (Moore and et.al., 2018). This will help in
improving the sales and overall performance of the organisation. The report will be presented in
the context of Pan Pacific Hotel, located at Bishopsgate, London.
The assessment will cover details about the financial performance management of the
organisations for improving services on a higher scale. Besides this, it will describe HR
operations and legal considerations that are been followed within hospitality sector. It will also
cover effective communication, coordination and monitoring method for selected organization.
MAIN BODY
TASK 1
Principles of managing and monitoring financial performance of the organisation
Different principles are been adopted and followed by the Pan Pacific Hotel that will help
in setting up of proper growth and development measures which will help in improving the sales
and carrying out of business operations which are been placed within the organisation. The
selected hospitality firm is required to look after effective planning of the operations and other
business operation as it will help in carrying out of suitable options and helps in meeting the
functional requirements of the organisation (Goeminne and George, 2018). Some major
principles of managing and monitoring the financial performance of the organisation are:
 Money is valued over the time: the depreciation value of money fluctuates over the time
and thus, will lead the organisation to have a good increase in the valuation of the
organisation and thus will require the operational capability of the form to manage the
business operations.
 Cash flow is important for the firm: While setting up its business operation's, pan
pacific hotel is required to look after the proper planning of the services and thus, will
help in improving the overall performance of the firm. A firm is required to have a good
cash flow before organising its operations in a significant manner.
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 Risks leads to rewarding: This will help in improving the overall operations that will be
taken within a hospitality firm (Fellingham, 2018). Pan Pacific is required to take certain
risk factors that will impact the operations which are been carried out at the organisation.
This will impact the overall operations of the organisation.
 Market process are generally right: the market process will look after the proper
placement of the operations which are been carried out and this will support the placing
of process over the products and services offered by Pan Pacific hotel.
 Conflicts can lead to problems in agency: the management of pan pacific is required to
look after the suitable resolution of different conflicts that takes place at the organisation
in order to reduce any sort of operational glitch and functional barrier of selected
hospitality enterprise.
Double entry book keeping
Double entry bookkeeping system is a form of recording and maintaining all the ongoing
transaction within any business. This includes the preparation of financial transaction according
to clear consideration of balancing off principle.
Ledgers (With imaginary figures)
Lunch Purchases
Date Particulars Amount Date Particulars Amount
31/12/18 Bal b/d 4000
Bal c/d 4000
4000 4000
Benefits and allowances
Date Particulars Amount Date Particulars Amount
31/12/18 Bal b/d 10000
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Bal c/d 10000
10000 10000
Drinks
Date Particulars Amount Date Particulars Amount
31/12/18 Bal b/d 6000
Bal c/d 6000
6000 6000
Loans
Date Particulars Amount Date Particulars Amount
31/12/18 Bal b/d 23714
Bal c/d 23714
23714 23714
Overdraft
Date Particulars Amount Date Particulars Amount
31/12/18 Bal b/d 10000
Bal c/d 10000
10000 10000
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Trial balance
Particulars Debit Credit
Cash in hand 10700
Petty cash expenditure 750
Cash Sales 3350
Credit Card Sales 14795
Free issues 575
New Kitchen equipment 6540
Food Purchases 7900
Beverage Purchases 12970
Purchase Returns 0 200
Discounts Received 0 2300
Credit Notes 190
Rent 2850
Utilities 475
Functions and Events 5967
Wages 4590
Debtors 700
Overdraft 10000
Loans 23714
Drinks 6000
Lunch Purchases 4000
Benefits and allowances 10000
Till Shortages 152
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Total 64359 64359
Analyse and produce a trail balance
Trial balance is prepared after ledger entry and amount of debits and credits need to be
balanced. After undergoing to all the entries, trail balance calculations need to be reviewed
before final entries. For the selected hotel an imaginary trial balance report may be presented and
designed as follows-
Trial balance
Particulars Debit Credit
Bank Loan 12000
Cash 11700
Capital 13000
Rates 1880
Trade Creditor 11200
Purchases 12400
Sales 14600
Sundry Creditor 1620
Debtors 12000
Bank Loan Interest 1400
Other expenses 11020
Vehicles 2020
Total 52420 52420
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TASK 2
Different stages of HR life cycle
Different stages are been followed within HR life cycle that will help in proper planning
of the recruitment and other employee related operations. This will help in effective planning of
the HR operations that are been carried out at the organisation (Ogielski, Cowie and Popescu,
2017). It assists in improving the sales and carrying of the operations which will help in meeting
the functional needs of the organisation. Some major stage of the HR operations that are carried
out by the firm are:
 Recruiting and selection: This is the major factor that will help in proper rise in the
operations which will help in meeting the operation's that will help in improving the
work force and placing of the skilled and knowledgeable employees that will help in
guiding the operation's of the organisation to a greater level.
 Carrying out induction: As the new recruits will be unknown to the policies and action
plans that are been carried out within the firm, HR department of the organisation will
look after the proper planning of the operations and thus will see through proper
delivering of the roles, responsibilities and the information about policies that are been
followed within the organisation.
 Providing trainings: The HR department of the organisation will look after the proper
assessment of the training and skill improvement processes that are been carried out
within the organisation. This will help in improving the overall skill set and meeting of
the operations that will help in enhancing the performance of the organisation.
 Appraisals and termination: They will also look after the rewarding process that will
help in improving the services that are been provided by the organisation this will help in
proper planning of the operations which will help in gaining the operations related to the
performance of the organisation.
Personal development plan
This personal development plan is designed regarding the HR manager of Pan Pacific to reduce
his inefficiencies related to workplace.
GOAL ACTIONS ASSESSMENT RESULT Start End
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Date Date
To improve
written
communicati
on
Undergo for regular
senior guidance.
Practising writing of
businesses reports by
help of online
tutorials.
Taking help of
different online
materials, articles
and magazines for
improving writing
skills.
Taking regular
feedback from
seniors as well as
colleagues.
Promoting written
communications
within the
department.
Efficiency
related business
writing will be
increased.
Correct
inclusion of
formats,
spacing and
content will be
clear, concise.
08/03/19 16/03/1
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To improve
technical
skills
Taking help of
various online guide
and tools related to
upcoming
technologies.
Assessment will be
taken by applying
the gain knowledge
into certain
situations.
Able to handle
the business
software easily,
business reports
can be
effectively
designed witch
the help of
technical tools.
18/03/19 30/03/1
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Legislation to be followed by the organisation
Different legal obligations can be undertaken by the organisation as per the setting of the
legal operations that will help in carrying out of the measures which will help in meeting the
fictional requirements of the firm (Pate and Scullion, 2018). These legal obligation will help in
meeting the functional assessment of the operations. Some major and most effective operations
that will help in meeting the functional requirements of the Pan Pacific hotel are:
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Employment Act 2002 is the most important and effective legislation that has to be
followed within an organisation. It includes the placing of the recruitment process within an
organisation without any sort of significant difference on basis of religion, gender, ethnicity and
nationality.
Food safety act, 1990 is significant for hospitality industry as it inhibits the provision
related to food. For selected hotel, this law is important to adopt as it provide important points of
consideration while preparing food (Blanchard and et.al., 2019). It also delivers high standards to
staff regarding food preparation process and maintaining appropriate level of hygienic
atmosphere and supplying fresh food items to its customers.
Similarly, Waste regulation act, 2011 has delivered sufficient regulatory measures to Pan
Pacific hotel for managing waste production, its quantity and process of disposals. Along with it,
Health and safety act, 1974 has laid emphasis on the health of customers as well as employees
(Cheung and Xu, 2017). Under this act, the hotel is bound to provide sustainable and safe
environment to employees with adoption of related acts such as Fire precaution act. Hotels also
require to implement the measure of National Building Codes to maintain high level of
protection and reduce instances of accidents within hotel premises.
Potential impact of contract, employment and company law on decision making
Implication of company laws on hospitality industries tends to affect its decision-making
process in terms of employees, its partnership, licensing and type of service it provides. As per
the company law, a large hotel like Pan Pacific need to have predefined rules and regulations
related to its formation, alterations within it, capital requirements.
As per the employment laws, the decision of executives are affected with respect to the
selection, recruitment and talent acquisition processes. National Minimum Wages and Equality
act has affected the regular functioning of HR functions. Under these acts, Pan Pacific hotel need
to maintain a fixed compensatory amount to comply with minimum wage law (Fine and Selby,
2016). Due to the implications of Equality act, the decisions of selecting candidate for is affected
and they need ton equal amount of wage to deserving and non deserving employees.
The contract law has delivered decisive considerations in terms of consents, legal
contract, issues related to property and land, dealing with any business agreement. Pan Pacific
hotel has to take number of business decision with respect to the contract law.
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These laws have significant impact on day to day functions within hospitality sector. The
laws related to health and safety of employees will thrive its employees' loyalty. These laws will
deliver smooth frameworks to hotel's staff regarding to workplace culture and legal rules.
TASK 3
Covered in ppt
CONCLUSION
The report has summarized that hospitality industries have attained desired success by
utilizing strong and effective communication system. The report has included the fact that
introduction to technical monitoring tools have raised the quality and efficacy of monitoring
measures for organizations. It has laid emphasis on fact that continuous improvement and
assessment of employees' life cycle may deliver strategic framework to hospitality industry for
retaining its key personnel.
Along with it, the study has also highlighted the fact inclusion of proper assessments and
methods to track the financial performance of hotels need to be linked with regular auditing and
monitoring. Furthermore, it has focused upon the interrelationship of departmental functions
within hotel among which the Accountant officer and finance department is in direct contact of
each and every personnel. HR manager and officer also established high connectivity with
departmental personnels in terms of carrying out the training programs, compensations, leave
sections and pay structures to them.
REFERENCES
Books and Journals
Blanchard, H. E. and et.al., 2019. System and method for generating a unified menu for multiple
communication channels. U.S. Patent Application 10/168. 867.
Cascio, W. F., 2015. Managing human resources. McGraw-Hill.
Cheung, S. O. and Xu, W., 2017. Protection of Adjudicators under Security of Payment
Legislation. Journal of Legal Affairs and Dispute Resolution in Engineering and
Construction. 9(3). p.04517006.
Fellingham, J., 2018. The Double Entry System of Accounting. Accounting, Economics, and
Law: A Convivium. 8(1).
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Fine, R. M. and Selby, J., Game Play Network Inc, 2016. System and method of managing user
accounts to track outcomes of real world wagers revealed to users. U.S. Patent 9. 317.
999.
French, S., 2018. Between globalisation and Brexit: Migration, pay and the road to modern
slavery in the UK hospitality industry. Research in Hospitality Management. 8(1).
pp.23-31.
Goeminne, S. and George, B., 2018. New development: Determinants of financial performance
in public organizations. Public Money & Management. pp.1-4.
Kraakman, R. and Hansmann, H., 2017. The end of history for corporate law. In Corporate
Governance. (pp. 49-78). Gower.
Moore, C.B. and et.al., 2018. Project complexity and bonding social capital in network
organizations. Group & Organization Management. 43(6). pp.936-970.
Ogielski, A.T ., Cowie, J. H. and Popescu, A., Dynamic Network Services Inc, 2017. Methods
and systems for monitoring network routing. U.S. Patent 9,838,279.
Pate, J. and Scullion, H., 2018. The flexpatriate psychological contract: A literature review and
future research agenda. The International Journal of Human Resource Management.
29(8). pp.1402-1425.
Rubens, A. and et.al., 2018. Self-awareness and leadership: Developing an individual strategic
professional development plan in an MBA leadership course. The International Journal
of Management Education. 16(1). pp.1-13.
Salamzadeh, A. and Kawamorita Kesim, H., 2015. Startup companies: life cycle and challenges.
In 4th International conference on employment, education and entrepreneurship (EEE),
Belgrade, Serbia.
Sanghera, P., 2019. Project Communication Management. In CAPM® in Depth. (pp. 343-377).
Apress, Berkeley, CA.
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