Hospitality Business Toolkit

This document is a Hospitality Business Toolkit that covers various topics such as managing financial performance, double entry bookkeeping system, HR life cycle, performance management plan, legislation for hospitality organizations, and more. It provides valuable information and insights for individuals in the hospitality industry.

The Hospitality
Business Toolkit

Table of Contents
INTRODUCTION .....................................................................................................................3
MAIN BODY ............................................................................................................................3
TASK 1......................................................................................................................................3
P1 Investigate the principles of managing and monitoring financial performance ..............3
P2 Apply the double entry bookkeeping system of debits and credits to record sales and
purchases transactions in a general ledger ............................................................................4
P3 Produce a basic trial balance applying the use of the balance off rule to complete the
ledger...................................................................................................................................10
TASK2 ....................................................................................................................................11
P4 Review the different stages of the HR life cycle applied to a specific hospitality job
role and their importance for retaining and developing talent.............................................11
P5 Develop a performance management plan for a specific hospitality job role applying
techniques to resolve both negative behaviour and overcome issues of staff retention......12
TASK3 ....................................................................................................................................13
P6 Identify specific legislation that a hospitality organisation has to comply and adhere to
.............................................................................................................................................13
P7 Company Employment and contract law has a potential impact upon business decision
making in the hospitality industry.......................................................................................14
TASK 4....................................................................................................................................15
P8 Interrelation between various functional roles in the hospitality sector ........................15
P9 Provide various approaches to coordination, communication and monitoring for
particular division in hospitality enterprise to strengthen value chain................................16
CONCLUSION........................................................................................................................17

INTRODUCTION
In present time, hospitality sector is performer its function in effective way and helps
business in meeting performance standards . This can be seen in current time that business of
these firms are increasing due to different factors such as improvement in transport,
globalization and many other (Agomoh, Eze and Nwokoro, 2019). In relation to the current
report it is based on study of intercontinental hotel. It is British multinational hotel chain
which is operating at global level. Firms is operating at different location world wide. This
helps in meeting needs and performing task in effective way. In context of current report, it
include discussion about finance performance of business. This also include discussion about
HR life cycle and different other function order to meet needs. performance management plan
for a specific hospitality job role applying techniques to resolve both negative behaviour and
overcome issues of staff retention.
MAIN BODY
TASK 1
P1 Investigate the principles of managing and monitoring financial performance
Financial performance of the company helps in generating the cash and the revenue of
the organisation in the proper manner and helps in building the good reputation by which the
individuals get attracted. There are various principals which are to be followed in proper
recording of transaction and should be observed in a proper manner. It helps in increasing the
benefits of the organisation and minimize the cost of the organisation so the decisions are to
be taken in proper manner (An and Quail, 2018). Dorchester company records the transaction
on the daily basis like the receipts, vouchers and the raw materials used by the company are
to be recorded on the daily basis so that the decision is to be taken in the manner. Every
organisation should control the cost and the finance and the cash-flows are to be monitored
on the regular basis so that the decisions are to be taken by watching the different statements
in the proper manner (Boumans and Trilling, 2016). Below are the various principals of the
financial management described:
Making financial statement reports- It helps in viewing the financial performance
of the company so that the decision is to be taken care in the proper manner and will not

affect the business. The company should observe the balance sheet and the trial balance on
the regular basis. Dorchester company should prepare these reports on the regular basis so
that the customers get attracted easily and reports are to be prepared by which output will also
increase in the future.
Evaluating overhead cost- It helps in gaining the entity in an organisation and
observe the organisational expenditure by which the decisions are to be taken care in the
proper manner and will affect the organisation and can control the cost easily. Dorchester
company calculate the overall cost and the expenses by which the operating cost is reduced
and helps in calculating the records of the additional expenses in the organisation so that it
will not affect in the future and decision is to be taken care in the proper manner (Deszca,
Ingols and Cawsey, 2019).
Maintain the records of stock- The records are to be maintained in an proper manner
so the decisions are to be taken properly. It helps in recording the transaction and the
purchase made by the organisation is to be recorded properly. Dorchester company should
record the transactions properly in an organisation.
P2 Apply the double entry bookkeeping system of debits and credits to record sales and
purchases transactions in a general ledger

P3 Produce a basic trial balance applying the use of the balance off rule to complete the
ledger
Trial balance for intercontinental hotel group
Trial Balance DR CR
BANK fund 540,400
BOOKINGS income 470,400
Salary payment 260,000
Rental expenses 200,000
Food & Beverage revenue 150,000
Expenses of bills 25,000
Food & Beverages expenses 55,000
Sanitary facilities 35,000
Advertising expenses 15,000
Möbel & fitting devices 110,000
Insurance Policy 70,000
Sage Tech 10,000
Capital 700,000
Total 1,320,400 1,320,400
Return on investment = 1,320,400-700,000 *100%=620,400 *100% = 0.88628571 *100%
= 8.62%
ROI 700,000 700,000

TASK2
P4 Review the different stages of the HR life cycle applied to a specific hospitality job role
and their importance for retaining and developing talent
HR life cycle act as an important part within an organisation and order to fulfil the
requirements and perform the task in an appropriate way. A HR cycle include different stages
which has to be followed in order to fulfil the obligation of a particular role within the
organisation full stop in context of intercontinental hotel group, it is operating within the
business of hospitality industry where there are different rules which has to be fulfilled to
achieve better opportunities and maintain appropriate environment of working. The different
stages and their role within hospitality industry are discussed below:
Recruitment: this page act as a primary stage within a HR life cycle which country
recruiting the candidates for fulfilling the vacant position this important role within the
organisation as it includes attraction development and productivity within the organisation for
recruiting qualified applicant is a major factor which helped the hospitality business in
performing activities and perform its function in appropriate way. under this intercontinental
hotel group has to pay attention and recruiting talented and so that talented workforce and
manage in order to achieve better productivity and desired results (Ervin, 2016).
Education: Education is also act as a stage and HR life cycle which consists a
particular method of employing discipline work and achieved appropriate results.
Motivation: This act as a third stage in this life cycle where an employee has to
establish and start career planning and development this page has a great role in increasing
the performance of employee by providing opportunity of career planning and development
in context of business development perspective management has to find improved talented
and productive waste which will build better revenue to the organisation and understand to
work from different aspects (Filimonau and Delysia, 2019). This help in meeting
specialisation needs as well as performing the task according to the requirements of business
organisation and resources available to it.
Evaluation: This is the fourth stage in HR life cycle which include retention
strategies for them. play important role in retaining the employees and managing them

according to the requirements of organisation full star and this it ensure that organisation is
able to retaining the talented employee by performing the past three stages organisation must
create a cultural environment which help in boosting performance and building confidence in
employees.
Celebration: This act as a last stage of HR life cycle which include separation and
termination fees. Under this it plan important role where it understand aspect of employee
turnover and help the organisation and management to use different strategies. This help in
creating a positive atmosphere so that employees can perform effectively as well as
management and attain the employees in efficient way (Foster and Carver, 2018).
This can be seen from the above stated HR life cycle that there are different stages
which can be used by the organisation performing in hospitality industry to retain the
employees and manage human resources according to the needs and requirements. This help
in fulfilling vacant positions within the organisation as well as performing the function by
taking it as an holistic approach by consistently reviewing the approaches full star this help
the large company in performing its function in budgetary control such as intercontinental
hotel group which can easily implement stages in the working of organisation.
P5 Develop a performance management plan for a specific hospitality job role applying
techniques to resolve both negative behaviour and overcome issues of staff retention
Performance management can be define as the function which is related to activivties
that are used in order to perform task in effective way. This include all those activity which
are used to improve skills of individual in order to perform the task and manage roles
according to business needs. In context of intercontinental hotel group , there are different
factors which have to be included n order to perform function in effective way. In order to
meet these needs there are related to needs which have to be used by business firm and
manage roles according to role of business firm. For this purpose performance management
plan have to develop appropriate strategies keeping in mind effectiveness of operations in a
business organisation. This process involves several steps:
Plan: This is the prime step which is related top management performance of
employees in order to meet needs and perform task in effective way (Goodall, 2018). This
step involve using some tools an techniques which helps business firm performance plan
about development of employees and manage roles in effective way.

Monitor: This step involve monitoring performance and evaluation function in order
to improve business function and perform all activates in effective way. This involve using
tools to identify performance and evaluate performance of employees (Kiehne, 2018). There
are different roles which are performed in order to meet needs which involve techniques such
as altering working conditions, rendering proper training structures, resolving issues of
employees and many more.
Review: This is all stages where all the function of performance will be rewied by the
person performing on the task. This helps in meeting needs and performing roles according
top current business environment.
TASK3
P6 Identify specific legislation that a hospitality organisation has to comply and adhere to
Business environment there are different rules regulations and laws which has to be
followed by a hospitality organisation in order to perform its function within the business
environment. These rules and regulations play essential role in guiding the organisation as
well as performing in ethical manner so that both the employer employee organisation and
consumer will not be treated badly and remain in profit. There are some rules and regulations
which has to be followed by the intercontinental hotel group in order to perform its
functioning within the hospitality sector. Some of these rules are discussed below:
Data protection act, 2018: the data protection act is a UK implementation of general
data protection regulation which was developed by UK government (Konopasky and
Sheridan, 2016). Under this law, there are various guidelines which are covered by the UK
government in order to protect the data of consumers within various sectors include using
fairly lawful and transparency in data as well as using specific and explicit purposes. Under
this law, there are various rights of a consumer which are related to be informed about the
data being used access personal data have incorrect data update and update data erase these
are the benefits which can be avail by hospitality consumer.
Trade description act, 1968: it is a European government act which must be
followed by hospitality organisation such as intercontinental hotel group. Here, hotel has to
perform the functions by covering this act in functioning (Lee Gierke and Cornelissen, 2016).
In context of the hotel group it is used to provide relevant data of the customer which is

essential for them as well as has a strong image within the market which help organisation in
improving its functioning and achieve better results.
Consumer protection act, 1987: this can be defined as an act which helps in
protecting the rights of customers while buying goods and services. this act help in address in
different problems which are related to credit and store scorecard faulty goods huye services
contracts builders and various others which are faced by a customer while purchasing the
goods and services in the market. In context of intercontinental hotel group it is a well-
established organisation which consider the consumer protection act. This help the
organisation in building a sound image within the market as well as considering different
factors of the act also help in reducing errors and providing effective services to the
customers within the market.
These are some rules and regulations which has to be followed by the intercontinental
hotel group in order to perform the functions and achieve better results within the market
where it is trading. These will help in decreasing the legal liability of the organisation as well
as performing according to the rules and regulations prescribed by the legal authorities. This
ultimately helps the business organisation in building a better image in the market as well as
facilitates smooth functioning.
P7 Company Employment and contract law has a potential impact upon business decision
making in the hospitality industry
There are different law and function which are used in order to perform business
function. These are related to laws and rules which help in planing structure and achieve
business objectives. There are different laws which can be used by business firm. Some of
these are stated below:
 Company Law:- This is important law which helps business firm to meet needs and
perform task in effective way. This helps in performing business function and
managing business tools according to needs. This law includes conduction of
respective business activities as per rules and regulation. This improve decision
making and ensure proper working and manage company in long time (Mariani,
Baggio, Fuchs and Höepken, 2018) . Contract law:- This act states that contract act as mutual agreement between two and
more person. This is help full ion perform task in effective way and managing roles of
employee according to needs. This law has to be followed by intercontinental hotel

group. This will helps in managing appropriate function and meeting needs of firm in
order to provide services to employees. This also helps in adding transparency to
work which motivate employees in order to perform task according to regiments.
 Employment law: this law include guidelines about the employment contact between
employs and employer. This helps in-meeting needs of both the parties and
establishing mutual understanding. This also helps the department of intercontinental
hotel to perform task according to available resource by motivating employees and
maintain performance standards.
TASK 4
P8 Interrelation between various functional roles in the hospitality sector
Various departments within the hospitality sector interrelate with each other. This is
mentioned below:
 Food and drinks division: This is major part of business firm in order to meet needs
of user related to food. This aid customer in fulling there needs related to food. In
relation to intercontinental hotel this can be seen that there are appropriate
management of food department in order to perform as and fulfil needs of clients.
 Sales and marketing division: This department is related to settling the products and
marketing about there services offered by in hotel in local market. Here, business firm
is operating at global law where this department use different services and tools in
market the products and services.
 HR division: This is also act as an important part in order to perform function and
manage roles in business firm. The division also implements various policies which
create positive workplace environment and increase employee satisfaction to build
loyal workforce.
P9 Provide various approaches to coordination, communication and monitoring for particular
division in hospitality enterprise to strengthen value chain
Various methods of communication, coordination and monitoring used by The
Dorchester hotel to strengthen the value chain are provided below:
 Communication: In order to perform task in effective way and manage roles
intercontinental use ideas creatively which helps in building flawless plans for
improving various business operations.

 Coordination: The respective firms has implemented various methods which build
coordination between employees such as team building exercises and group projects
which lowers disputes and creates positive working environment.
 Monitoring: The respective firm conducts regular meetings to gain information and
feedbacks from employees regarding various policies and training obstacles to
monitor employee growth and performance (Posthuma and Rossi, 2017).

CONCLUSION
It can be concluded from the above mentioned report that there are different factors
which can be used by business firm in order to manage product and services. There are
different principles which are useful in order to arrange and manage needs in appropriate
way. This can be seen that there are different roles which are used in order to manage
function in intercontinental hotel and help in meeting needs. This also relate business
performance and manage activists according to needs.

REFERENCES
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