The Hospitality Business Toolkit in Hospitality Industry (pdf)

The hospitality Business
Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
P1: Discuss the principles associated with managing as well as monitoring financial
performance of firm....................................................................................................................3
P2: Application of double-entry system to record the transaction related to sales as well as
purchases account followed by general ledger............................................................................4
P3 Prepare trial balance in order to complete the ledger account ..............................................5
TASK 2............................................................................................................................................5
P4: Present the various stages of HR life cycle for hospitality job role for developing and
retaining the talent.......................................................................................................................5
P5: Prepare performance management plan for hospitality job role...........................................7
TASK 3............................................................................................................................................8
P6: Legislation related to hospitality organisation......................................................................8
P7: How company, employment and contract law has a potential impact upon business
decision-making in the hospitality industry................................................................................8
P8: Methods of communication, coordination and monitoring applied within a specific
department of a hospitality organisation ....................................................................................9
P9: Methods of communication, coordination and monitoring applied within a specific
department of a hospitality organisation ..................................................................................10
CONCLUSION..............................................................................................................................11
REFRENCES.................................................................................................................................12

INTRODUCTION
Hospitality industry emphasize on providing customer services for better satisfaction and
experience of customer. This comprises of accommodation, food and beverages as well as travel
and tourism services to the traveller to make their overall experience worthwhile (Jayawardena,
et.al., 2013). For the better understanding of report Carnival corporation and plc has been taken
which is a world's largest cruise operator travel company. Currently it has more than hundred
ships that provide the services of food, bars, accommodation, events, entertainment and so on.
This report focuses on managing the financial transaction in order to minimise the cost within
hospitality industry, managing the human resource life cycle within HR strategy as well as
discussion will be made on the impact of ethical and legal consideration on hospitality business
(van der Linden and Hambleton, 2013).
TASK 1
P1: Discuss the principles associated with managing as well as monitoring financial performance
of firm
Financial performance is used to measure the financial health of firm for a specific period
of time to identify the total amount generated by business. It is also used to make better
comparison between among similar type of firm so that they can set benchmarks in order to
overpower competitors (Legrand, Chen and Sloan, 2013). Moreover, organisation assign budgets
to conduct various activity of business in order to manage as well as monitor financial

performance of business. In addition to it this budget is set on the continuous basis to conduct all
financial activity wisely by minimising the expenses of organisation as well as making optimum
utilisation of existing resources. Furthermore, comparison standard and actual budget helps in
identify the variances which firm need to minimise by taking corrective action to achieve future
course of actions. Thus, there are several ways of monitoring as well measuring financial
performance which are stated below (Nayak and Taylor, 2018):
Financial statements: Financial statement is one of the vital principle of financial
performances which is prepared to show the actual financial position of company. Thus, it
consist of cash flow statement, income statement as well as balance sheet of company.
Make the use of competitive analysis: The statement or performances of one company
is compared with its competitor to identify the areas where business is lacking as well as its core
competencies (Lub, et.al., 2016).
P2: Application of double-entry system to record the transaction related to sales as well as
purchases account followed by general ledger
Journal
Entries Amount
Date Particulars L.F. Dr. Cr.
1st Feb Purchase A/c dr. 5001
To Kate's Kitchen A/c 5001
(Being food purchase from Kate's kitchen at
30 days credit)
1st Feb Purchase A/c dr. 29552
To Harry A/c 29552
(Being wines and spirits purchased from
Harry)
3rd Feb Cash A/c dr. 13027
To Sales A/c 13027
(Being food and beverages sold for cash)

6th Feb Kate Kitchen A/c dr. 5001
To bank A/c 5001
(Being pay off Kate via bank transfer)
10th Feb Cash A/c dr. 10653
To sales A/c 10653
(Being food and beverages sold for cash)
14th Feb Bank A/c dr. 2008
To Sales A/c 2008
(Being amount received from Meganne for
catering)
17th Feb Cash A/c dr. 13321
To sales A/c 13321
(Being cash received against sales)
22nd Feb Purchase A/c dr. 7013
To Kate A/c 7013
(Being order placed)
24th Feb Cash A/c dr. 12329
To sales A/c 12329
(Being cash received against sales)
Purchase
A/c
Date Particular Amount Date Particular Amount
1st Feb To Kate's Kitchen A/c 5001 28th Feb By trading A/c 41566
1st Feb To Harry A/c 29552

22th Feb To Kate's Kitchen A/c 7013
41566 41566
Sales A/c
Date Particular Amount Date Particular Amount
28th Feb By Trading A/c 51338 3rd Feb By Cash A/c 13027
10th Feb By Cash A/c 10653
14th Feb By Bank A/c 2008
17th Feb By Cash A/c 13321
24th Feb By Cash A/c 12329
51338 51338
P3 Prepare trial balance in order to complete the ledger account
Trial Balance
Particular Debit Credit
Purchase A/c 41566
Sales A/c 51338
Harry A/c 29552
Cash A/c 49330
Bank A/c (Cr.) 2993
Kate A/c 7013
90896 90896
TASK 2
P4: Present the various stages of HR life cycle for hospitality job role for developing and
retaining the talent
Human resource plays a valuable role in managing the relationship between employer
and employee as it is used to coordinate the functions of various staff, integrate the culture of
business to conduct the routine function of business smoothly (Zoweil and Montasser, 2012). For

instance, the manager of HR is responsible to conduct the whole recruitment cycle smoothly,
training the existing as well as new staff of organisation and motivate employee to reduce the
turnover or absenteeism rate. Thus, HR life cycle for hospitality job profile in order to develop as
well as retain employee are stated below (Kysilka and Csaba, 2013):
Recruitment: Recruitment refer to hiring the right people for the right job profile that
basically increase the productivity as well as growth of company. In order to conduct recruitment
for cruise travel company that include large pool of personnel such as captain, maintenance staff,
house keeping staff, mangers and so on. In such case HR manager ensure that they select right
person who can understand their role and responsibility clearly.
Education: Education process starts ones the employee start working for their job
profile. It is significant for the new candidate to understand the role, responsibility as well as
expectation of company. It basically include training and development sessions to enhance the
skill and knowledge of the existing as well as new staff of cruise travelling ship. For instance,
onboard training specialist is given to the internal cruise staff that how they have to deal and
provide the customer services to their guest.
Motivation: The role of leader is to keep on encouraging their staff so that they remain
dedicated and help the organisation to achieve organisational objective. Like, Carnival
Corporation and PLC is a largest cruise operator which is a part of hospitality industry that keeps
on motivating and form long term employee relation. As they as the source of service provide so
company make sure to maintain their goodwill by forming good bond with its employee.
Evaluation: At this stage performances of the employees are measured and review is
given to them. Moreover, as there is huge competition in hospitality industry so firm conduct the
evaluation process to identify the performance of employees and accordingly they can give
feedback and set the benchmark for them. Thus, it helps in minimising the chances of variances
and divert the attention towards accomplishment of goals (Sipe, 2013).
Celebration: Within this stage the HR manager appreciate the efforts of their staff by
offering them several benefits. Herein, hospitality job profile this process of HR cycle is
basically used to reenergise the efforts of their staff and motivate them in a manner they again
achieve the goals of company (Pirani and Arafat, 2014).
Hence, all these stages of HR cycle plays an efficient role not only to develop and retain
the existing talent but also attract the new talent for the organisation.

P5: Prepare performance management plan for hospitality job role
Performance management plan involve working together in a group in order to identify
the strength or weakness that help an employee to achieve more productive as well as efficient
result. This is the role of managers to supervise the performance of their employees by guiding
them the right direction to work for the better achievement of overall goals of an organisation.
Thus, performance management plan involves various steps which are defined below:
 Evaluate current performance appraisal process: It is significant for organisation to
evaluation the current performance of business by identifying the management process as
well as resources of business. Along with that the manager of respective company must
check whether their staff are working on the feedback provided to their staff.
 Set goals for expected performance: Once Carnival Corporation & PLC evaluate the
existing performance of its staff as well as company. Then they should shared the efforts
or strength of their employees in a manner to encourage them. After that they focuses on
the weakness or the area where performance needs to be enhanced. This step of
performance management system helps in setting the standard for the employees to
enhance their performances.
 Creating action plan: Action plan refer to choosing organisational goal by delegating
the roles and responsibility adequately within the organisation. Respective company
clearly state the objective, mission as well as vision of organisation so that it lead to
transparency due to which employee will remain connected with its company and help to
achieve success (Weinstein and Morritt, 2012).
 Tracking: Once the expected performance as well as roles and responsibility are clearly
assigned within the Carnival Corporation & PLC company. Then the role of manager is
to supervise various activity to take the organisation in positive direction.
Therefore, it is valuable for the organisation to adopt following steps of performance
management system. As it encourages the efforts of staff by explaining them their weakness
which helps in overall development of an employee. Thus, it lead to overcoming the negative
behaviour of an employee towards organisation which help company to retain its existing
developed employee.

TASK 3
P6: Legislation related to hospitality organisation
Laws or legislation refer to the rules and regulation which an organisation needs to abide
by to safeguard the interest of various section of society (Singh, 2015). Thus, Carnival
corporation and plc organisation have gained renowned position as well as trust of its employee
and customer because it follows various legal obligations which are stated below:
Food and safety Act (1990): This act ensure that food served by business should not
hamper the health of one who is consuming it. Along with that they should take care of its
quality. Herein, Carnival corporation and plc company serve wide range food and beverages by
taking all sort of precautions to maintain the quality of food for the people travelling in cruise.
Like, all the waiters and chefs uses gloves and cover their hair properly along with that they do
not serve stale food to its customers. Therefore, any company selling packed or non packed food
item must adhere respective act properly.
Tourism Act (2011): According to Tourism Act 2011 provide sustainable tourism
services by proper managing, developing as well as marketing the services for travellers.
Additionally, as the selected travel company engage the customers by connecting their various
services globally like they have more than 100 ships which completes the journey of people for
various country. Due to which it is significant for company abide by this law for various
countries (Pirani and Arafat, 2016).
The modern slavery act, 2015: This act came into existence to protect worker from
getting exploited. Herein, Carnival Corporation and Plc company follows all the regulations
related to company like they avoid child labour and does not force their worker to continuously
work for long hours. This has enhanced their public image and tie up strong relationship with
their worker.
P7: How company, employment and contract law has a potential impact upon business decision-
making in the hospitality industry
Law refers to system of the rules that is developed as well as enforced by governmental
or social institutions for regulate the behaviour (Awe, 2012). It is system that assures and
regulates that person or community both adhere to will of state. Legislations concerned to the
business practices have direct affect over staff members and organisations. Hospitality sector is

subject to large number of regulations and laws which influence on services provided to the local
ordinaries. The government developed hospitality legislations to assure that hotels, restaurants
etc. are providing services to visitors or guests and also take care their safety in a proper manner.
In context to this, Carnival Corporation and Plc company should abide all legislations to conduct
its business legally in competitive market. On the other hand, there are several kinds of
hospitality legislations such as Truth in Menu Law, Fire Safety Act etc. but most common is to
protect safety and rights of consumers in respective company protect their customers from any
deceived and misguided through any public establishment (Liu and Pennington-Gray, 2015).
P8: Methods of communication, coordination and monitoring applied within a specific
department of a hospitality organisation
MEMORANDUM
DATE: April 16, 2019.
TO: Human Resource manager.
FROM: ABC
SUBJECT: Various functional role in hospitality industry
I am writing this letter to inform you that I learned about the roles and responsibilities in
different departments within hospitality sector during my training programme.
There are many functional roles which performed through various people in hotel at back and
front of house. The front of house is regarded as physical business area under which guests are
being served properly. Where as the back of house is being used for the many catering business
that comprises preparation of food items, different dishes etc. In hotel, there are various
departments and people have the different roles for an instance housekeeping that is responsible
for maintaining the cleanliness in rooms of guests consist vacuum cleaning of floor, dusting,
removal of litter. These factors are helpful in satisfying the needs and provide them better
experience so that they can sustain for long period of time.
Human resource department plays a necessary role in maintaining the performance and enhance
productivity of hotel. It provide the training to employees so that they can deal with consumers
in better manner and able to provide them better services. If they are able to provide the better
services and address them in a polite way then it will help in increase their level of satisfaction.
In hospitality industry, finance department comprises of preparing the budget and maintaining
the accounts in proper manner. It provides fund to different departments so that they can able to

perform their activities in an proper manner. There is a need to manager to to keep record of the
activities or services which are being availed through consumers at the time of their stay.
P9: Methods of communication, coordination and monitoring applied within a specific
department of a hospitality organisation
MEMORANDUM
DATE: April 16, 2019
TO: Manager of Human Resource
FROM: ABC
SUBJECT: Various communication, co-ordination as well as monitoring method
I am writing this to state you that, various training session, programme as well as
conferences conducted for food and beverage department has helped me to gain the better
knowledge regarding various methods of communication, coordination as well as monitoring in
the cruise line. Among various methods such as table setting or buffet system people usually
prefer placing their orders at their respective rooms. For this purpose telephonic mode of
communication is used where customer can directly contact the restaurant and place their order
via telephone. Additionally, they can directly contact to chef regarding the amount of
ingredients they want to add in their dishes. Moreover, for smooth functioning different roles
or activities are assigned to different people which help in managing things in an efficient
manner.
Therefore, the performances of internal staff are supervised on the regular basis by the
manager's of higher authority. This not only helps an individual to perform their task
significantly but also motivate them to enhance their performance with passage of time.
Furthermore, the manager of HR gives monetary and non monetary benefit for their employees
which helps them to remain encourage and put additional effort in order to achieve target
successfully. Additionally, controllability the variances and coordinating different activities
helps in the optimum utilisation of resources by making the use of effective supply chain.
Thank you for the cooperation.

CONCLUSION
From the above report it has been determined that Financial performance plays an
effective role in determining the true position of company. It is not only valuable for the external
stakeholder or comparing the performance of company with its rivalry. But it shows the direction
to the company where they can improve their performances. Along with that the role of human
resource cycle as well as performance management system helps to retain existing staff and
attract new members for the organisation. Moreover, there are various laws associated with
hospitality industry that needs to be followed by the organisation to safeguard the interest of
traveller. Furthermore, the role of memo is to transmit information in detail regarding the
functional role, communication as well as coordination in various department of organisation.