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The Hospitality Business Toolkit - Carnival UK

   

Added on  2020-11-12

19 Pages3192 Words109 Views
Leadership Management
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The Hospitality BusinessToolkit
The Hospitality Business Toolkit - Carnival UK_1

Table of Contents
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Introduction Carnival UK is a British company which deal its business in cruise line. It is comes under thelargest travel company which was listed in FTSE 100 and S&P indices. It provides food &beverages, travel and tourism, accommodation, entertainment and luxuries services to therecustomers. In these report we highlight that how to manage the finance by preparing trial balance and ledgerand find the error in trial balance. The HR life cycle in food and beverage department of CarnivalUK and the importance of HR life cycle. They prepare the plan to find the issues of retention ofemployees and the solution for increasing employee turnover. We identify different law in theorganisation and how they affect the business decision-making process. We also highlight thedifferent functional area and how they are interrelated to each other. It explains the interrelationwith the different department of the company such as food & beverages, HR, Finance,marketing, travel & tourism etc. It also explains various ways of communicating andcoordinating the information to monitor the value chain impact.
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1P1 The methods of monitor and managing company performanceThe performance of the Carnival corporation & Plc UK is evaluated by:First by identifying the break even point: it is the point at which the amount of sales andexpense become equal so at this point the business does not get any profit or loss.Second through calculating the working capital: working capital is the cash which is usedto carry day to day operations of the company. It helps in identifying your businessoperating fund (Harrington and Voehl, 2016).To manage the performance it can be rectified by selling the product and services in largevolume on reaching the break even point. It helps to sell the product and gain the profit withinthe time limit. Measures to improve the working capital of organisationI)By managing inventory: the inventory should be managed regularly it should not be morethan demand as it requires lot of investment for their preservation nor it should be lesssuch that it fails to meet the demands.II)Payment of vendors on time, managing debtors efficiently and improvement in thereceivables process.
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