The Hospitality Business Toolkit - Carnival Corporation & Plc Assignment PDF

THE HOSPITALITY BUSINESS
TOOLKIT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 Principles of managing and monitoring financial performance of company.........................1
P2 Double entry book keeping system, ledge..............................................................................2
P3 Trial balance...........................................................................................................................6
LO 2.................................................................................................................................................6
P4 Different stages of HR life cycle............................................................................................6
P5 Producing performance management plan.............................................................................8
LO 3...............................................................................................................................................10
P6 Legislation that company has to comply with and adhere to...............................................10
P7 Impact of contact and employment law on business decision making.................................10
LO 4...............................................................................................................................................11
P8 Interrelationship of different functional role within hospitality section...............................11
P8 Different methods of communication, coordination and monitoring...................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Hospitality industry is the fastest growing sector that contributes well in economic
development of nation (Zeff, 2016). There are many restaurant and hotels which are struggling
to find skilled employees who can work better for organisation. Present study is based on
Carnival corporation & Plc UK; it is British American cruise which offers luxurious services to
its consumers. It has more than 100 ships, bars, food, etc. Current assignment will explain
principles of managing financial performance. It will prepare ledger of given transactions.
Furthermore, study will review stages of HR life cycle and its importance for retaining and
developing talent. In addition, report will discuss various employment laws and will describe
their impact on business decision making.
LO 1
P1 Principles of managing and monitoring financial performance of company
It is very important for an organisation that to manage and monitor financial performance
of company, for that it has to follow some principles and have to prepare accounts accordingly.
These principles are explained as below:
 It is essential for financial manager of Carnival UK to prepare realistic budget, as it will
aid in minimising issue of over budget etc.
 Each department needs fund for running operations and each unit has to ensure that every
department has adequate financial resources (Choi and Young, 2015).
 Monitoring and evaluation need to be done carefully, monthly reports need to be prepared
accurately.
 Management must analyse cost and risk and have to take necessary action so that risk and
cost can be minimised.
Key performance indicators (KPIs)
KPIs are used by business to monitor actual performance of business and analysing its
progress.
Balance score card
It is considered as strategic management tool that is utilised by business to make changes
in internal business process and improve internal functions of organisation. This is helpful in
effective strategic planning (Fearn-Banks, 2016).
Benchmarking
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This is beneficial tool that helps organisation in knowing standards of industry and
making changes in practices in such manner so that enterprise can meet these standards. By
applying this method enterprise can analyse performance gap and can take necessary action to
improve the performance of business (Ghaboosi and et.al., 2016).
P2 Double entry book keeping system, ledge
Double entry book keeping system
Journal Entries
Date Particulars Debit (£) Credit (£)
1st Feb Purchase A/c Dr 34553
To Kate's Kitchen A/c 5001
To Harry's A/c 29552
3rd Feb Cash A/c Dr 13207
To Sales A/c 13207
6th Feb Kate's Kitchen A/c Dr 5001
To Bank A/c 5001
10th Feb Cash A/c Dr 10653
To Sales A/c 10653
14th Feb Bank A/c Dr 2008
To Sales A/c 2008
17th Feb Cash A/c Dr 13321
To Sales A/c 13321
17th Feb Harry A/c Dr 29552
To Cash A/c 29552
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22nd Feb Purchase A/c Dr 7013
To Kate's Kitchen A/c 7013
24th Feb Cash A/c Dr 12329
To Sales A/c 12329
Purchase Account
Date Particulars Amount Date Particulars Amount
1st Feb To Kate's Kitchen 5001 by balance c/d 41566
1st Feb To Harry 29552
22nd Feb To Kate's Kitchen 7013
Total 41566 Total 41566
Sales Account
Date Particulars Amount Date Particulars Amount
To balance c/d 51518 3rd Feb By Cash 13207
10th
Feb By Cash 10653
14th
Feb By Bank 2008
17th
Feb By Cash 13321
24th
Feb By Cash 12329
Total 51518 Total 51518
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Harry's Account
Date Particulars Amount Date Particulars Amount
17th Feb To Cash A/c 29552 1st Feb By Purchase A/c 29552
Total 29552 Total 29552
Kate's Kitchen
Date Particulars Amount Date Particulars Amount
6th
Feb To Bank 5001 1st Feb By Purchase 5001
22nd
Feb By Purchase 7013
To balance c/d 7013
Total 12014 Total 12014
Bank A/c
Date Particulars Amount Date Particulars Amount
14th
Feb To Sales A/c 2008 6th Feb By Kate's Kitchen 5001
To balance c/d 2993
Total 5001 Total 5001
Cash A/c
Date Particulars Amount Date Particulars Amount
3rd Feb To Sales A/c 13207
17th
Feb By Harry 29552
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10th Feb To Sales A/c 10653 By balance c/d 19958
17th Feb To Sales A/c 13321
24th Feb To Sales A/c 12329
Total 49510 Total 49510
P3 Trial balance
Trail Balance for Carnival UK
Particulars Debit (£) Credit (£)
Purchase A/c 41566
Sales A/c 51518
Cash A/c 19958
Bank A/c (OD) 2993
Kate's Kitchen A/c 7013
Total 61524 61524
LO 2
P4 Different stages of HR life cycle
Human resource management is responsible for hiring good employees and retaining them
in business for longer duration. Carnival UK follow each phase of HR life cycle in order to
manage their workers well. Food and beverage manager on cruise ship has to review the human
resource cycle so that issues can be identified and company can take action to resolve such
problems (Lowry and et.al., 2016). Different stages of HR life cycle are described as below:
 Recruitment: Hiring process of Carnival UK is very smooth and systematic, human
resource manager makes plan and set criteria for particular job (5 Stages of the Human
Resources Life Cycle in Need of Improvement, 2019). It emphases on strategies that make
help in attracting more talented people towards the organisation. Furthermore, arrange
interview sessions along with written test. That supports in selecting the most deserving
candidate in firm (Dell, Newton and Petroff, 2016).
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 Education: It is next phase in which human resource manager has to educate people and
make them aware with their role as food and beverage manager in the company. HR
manager communicates values of business and ethics. Furthermore, in this phases HR
team introduce the person with rest employees of their department so that individual can
feel familiar and confident.
 Motivation: One of the major reason of high employee turnover is that people feel
demotivated in company and they leave the job soon. Carnival UK offers rewards and
recognition to their workers so that they feel happy and their basic needs can be fulfilled
(Lu, El Hanandeh and Gilbert, 2017). Furthermore, it gives them recognition for their
good work in business. Such kind of appreciation supports the food and beverage
manager in retaining in company for longer duration.
 Evaluation: Professional training sessions are arranged by HR manager in order to
enhance professional capabilities of workers. Furthermore, time to time company takes
feedback from its employees and make changes in its system accordingly. Celebration: Carnival UK organise functions and give recognition to them in front of all
workers. This is the strategy that aids business in raising retention rate to great extent
(Wang and Hou, 2016).
Review importance of HR life cycle stages
HR life cycle is very important for Carnival UK in order to manage its employees well and
retaining skilled employees in the company for longer duration. Recruitment phase supports HR
manager in making correct plan for hiring talented candidates. Correct planning, job description
supports in knowing actual requirement in person for the post of Food and beverage manager.
Furthermore, giving training to the person aids in raising capabilities of individual and making
them aware with companies polices (Singh and et.al., 2017). That is beneficial in order to
making them comfortable and make them feel confident. Motivation aids Carnival UK in
retaining talented people in the organisation and minimising recruitment cost. If workers are
motivated, then they will work hard and will contribute well in accomplishment of company’s
goal. Celebration boosts the energy of employees and they become positive towards the brand.
In the absence of HR life cycle stages, it becomes problematic for the Carnival UK in managing
talent significantly (McCracken and et.al., 2017).
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In order to improve HR process and documentation Carnival UK should pay attention on
preparing interview notes. They have to make clear folder that includes resume, interview
questions, checklist for selecting the best person etc. Furthermore, HR manager should conduct
psychological test alone with written test. This would aid in analysing mental capabilities of
person and knowing whether person would be able to retain in organisation or not (Hammond
and O'Grady, 2017).
P5 Producing performance management plan
Performance management plan can be defined as planning of human resource department
in order to enhance performance of workers and managing people effectively. It is analysed that
company is facing issues related to waiters and waitresses at its cruise line. Employees are
refusing to perform additional tasks and they are unwilling to cooperate their team leaders. In
order to minimise such problems, firm is required to take necessary action. HR life cycle plays
significant role in overcoming issue of staff retention. If training, motivation, evaluation and
celebration phases are being improved then it would help business in retaining staff in company
for longer duration (Rungi, 2015).
Performance concern Expected performance
standard
Action for
improvement
Review date
Negative behaviour of
waiting staff
Waiting staff are
required to follow
instruction of team
leaders. They have to
give respect to others
and have to follow
company’s policies
strictly.
Company should give
appraisals and
incentives to them. As
waiting staff have to
work for longer
duration in cruise line
which encourage
negative behaviour.
Firm should give them
weekly off and
flexible working
hours’ facilities so that
people can spend
After 1 month of
implementing these
actions.
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quality time with their
family. That would
make them positive
and they will
cooperate with team
leader in business
(Lowry and et.al.,
2016).
Poor staff retention Waiting staff are
required to stay in
business for longer
duration and have to
follow company’s
policies.
Carnival UK should
give training,
incentives to workers
in order to motivate
them. Furthermore,
they should organise
celebration in every 6
months so that people
can relax as well.
Flexible working
hours, weekly off
facility will motivate
them and they will
retain in firm for
longer duration. These
techniques will help
company in
overcoming the issues
of staff retention.
After 1month of
implementing action.
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LO 3
P6 Legislation that company has to comply with and adhere to
It is essential for each business unit that to follow necessary legal guidelines and laws.
Carnival UK has to adhere several laws; these are explained as below:
Data protection act 2018
It is considered as most essential legislation that need to be followed by organisation.
Firms have to ensure protecting necessary information of customers, employees and not to share
with any third person. Carnival UK cannot use personal detail of workers for commercial use, if
it happens then entity will be liable to pay penalty for the same.
Employment law/ Contract
This is another essential law that ensures that firm pays minimum wages to its workers. If
workers are ready to work extra, then enterprise is liable to pay monitory benefit for these extra
hours. Discrimination act is also part of employment contract; enterprise has to ensure
eliminating discrimination. It cannot discriminate any workers on the bases of race, age, gender,
disability et. If it happens then employee can file case against the employer (Lu, El Hanandeh
and Gilbert, 2017).
Health and safety act
This is another essential legal framework that need to be followed by Carnival UK, it
needs to create such working environment which is safe for employees. Employer has to ensure
safety of employees hence, they have to provide safety equipment’s and have to give necessary
training to workers (Singh and et.al., 2017).
Equality pay act
This is another essential legal frame work that needs to be followed by Carnival UK, each
firm makes contract with its employees. Contract includes condition related to wages, sick leave,
notice period etc. It is essential for business to offer minimum set wages rate to its workers.
P7 Impact of contact and employment law on business decision making
Employment and contract law impact on business decisions and affect overall working of
company to great extent. If enterprise fails to provide equal salaries to all its staff then it may
enhance conflict situation in the organisation and entity might face issues like strike, high staff
turnover etc. In this condition, it is very important for organisation that to provide equal wages to
all workers on the basis of their job role and performance. This impact on HR decision of
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Carnival UK, as HR has to make changes in its strategic planning and wages scheme and have to
align it as per the government requirements (Zeff, 2016).
Furthermore, it is duty of employer that to take care of its staff members. They have to
provide safer workplace atmosphere to staff and have to give them training about using safety
equipment’s. If entity gets failed to provide safer environment, then it might face difficulty and
employer may have to pay compensation if any accidents occur in the organisation. Hence, it
affects the decision of fund allocation, as financial manager of Carnival UK has to give
additional fund to HR department so that they can arrange training for workers for health and
safety and can arrange gloves and other necessary equipment’s that may help in minimising
accidents at workplace (Lowry and et.al., 2016). Discrimination act prohibited biasness on the
bases of race, gender etc. It is responsibility of company that to treat all its worker’s equality.
They have to provide equal promotional opportunities to all its staff members by looking at their
performance.
Company law impact on business decision to great extent. Firms have to make their
business decisions by considering guidelines of these regulations. For example: if firm wants to
pay dividend to its shareholders then it has to consider company’s act and accordingly have to
pay dividend to shareholders.
LO 4
P8 Interrelationship of different functional role within hospitality section
Company name: Carnival UK
To: HR manager
From: Trainee
CC: Administration head
Date: 26 April 2019
Re: Interrelationship between different functional roles within Carnival UK
There are several departments in hospitality organisation and it is essential for all functional units
that to work together. As all these departments are interrelated, impact on one unit affect
other functional unit as well.
Human resource unit is responsible for hiring new candidates, retaining employees and managing
people well. They have to manage talent so that overall organisational objective can be
attain. It has strong relationship with financial department, as they provide funds to HR team
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so that they can arrange recruitment and can bring talented people in business unit.
Furthermore, if there is inadequate staff hired by Carnival then it may affect profitability
because they will not performance well and Financial department will not have sufficient
funds to allot to each department (Singh and et.al., 2017).
Marketing department is interrelated with production unit, as marketing team conduct market
research and identify needs of consumers and accordingly it suggests production team to
make necessary changes in existing products so that Carnival can offer satisfactory services
to its consumers. On other hand, if products are not good then it would become problematic
for marketing department to sell the goods and attract new consumers (Hammond and
O'Grady, 2017).
Customer service department is interrelated with food and beverage department in cruise line of
Carnival UK. If food department will not offer good food and will not emphases on hygiene
then it may raise quarries of consumers and customer service department will be unable to
handle consumers (Singh and et.al., 2017).
P8 Different methods of communication, coordination and monitoring
Company name: Carnival UK
To: HR manager
From: Trainee
CC: Administration head
Date: 26 April 2019
Re: methods of communication, coordination and monitoring
Companies are required to develop coordination among all departments. It is very important in
order to minimise complains and raising sales of business unit. Coordination and monitoring
helps in finding new ideas and making necessary changes so that overall goal of company
can be accomplished.
Communication methods
Verbal and written both are great communication that need to be used by food and beverage
department of cruise line. Verbal communication includes face to face meeting, individual
conversation etc. This aids in minimising confusion and knowing each other very well.
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Furthermore, written communication includes email, fax etc. This helps in avowing language
barriers as mails are written in common language that can be understand by everyone. It
saves time and money both and exchange information in smooth manner (Fearn-Banks,
2016).
Method of coordination
Good coordination among all employees and other department may help food and beverage
department to minimise disputes and knowing more about taste and preference of
consumers. Group and staff meetings are great techniques through which food and beverage
department in cruise line can develop coordination. Such kinds of meetings are helpful in
motivating individuals to pay more efforts and support their superiors for accomplishment of
company’s goal successfully (McCracken and et.al., 2017).
Monitoring methods
There are several ways that may aid in monitoring performance of Carnival UK effectively.
Key performance indicator, benchmarking, balance score cards are necessary tool that
support in knowing or evaluating progress of business unit. By this way entity can identify
actual rout cause of problem and can find solution to improve working performance of
business (Hammond and O'Grady, 2017).
Strengthen to value chain
All techniques of coordination, communication and monitoring may support in strengthen
the value chain system. As by this way, food and beverage department will be able to tell
purchase team about quality and quality of raw material. Further more, benchmarking will
support in knowing actual standard of food and services of business against industry
standards. Such techniques will aid in strengthen value chain system and improving
interaction among all functional units so that overall organisational goal can be
accomplished successfully.
CONCLUSION
From the above report, it can be concluded that hospitality business provides services to
consumers. These companies have high contribution towards economic development of nation.
Ledger account and double entry bookkeeping system are simple process to analyses
performance of business. Companies are required to follow management accounting principles
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so that they can prepare realistic budgets and other financial reports. HR lifecycle stages support
organisation in managing employees well and retaining skilled people in firm for longer
duration. Verbal and written both communication methods support the enterprises in exchanging
information in smooth manner.
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