The hospitality business toolkit

The hospitality business
toolkit

Table of Contents
INTRODUCTION...........................................................................................................................4
ACTIVITY 1....................................................................................................................................4
A) financial transaction of new business by identifying the types of sources and documents
and process.............................................................................................................................4
B)Principles of monitoring and managing financial performance........................................4
C)Principal of doable entry bookkeeping...............................................................................5
D) steps of the trial balance and their purpose.......................................................................5
E) type of cost and it can be managed financial performance of the new business..............6
F)- Importance of proper accounting .....................................................................................6
G)- Conclusion on the role of management and monitoring in achieving growth in new
business...................................................................................................................................6
ACTIVITY 2....................................................................................................................................7
A)- different stages of the HR life cycle as applied to issue in the talent acquisition and
relation with new Green cafe..................................................................................................7
B) Evaluation of HR life Cycle .............................................................................................7
C)Develop performance management plan to support job role..............................................8
D) recommendations and judgement .....................................................................................9
ACTIVITY 3....................................................................................................................................9
A) specific law for business transaction in Hospitality industry............................................9
B)- Contract and employees law impact of decision-making..............................................10
C) potential implication of two laws....................................................................................10
D) reflation on two ethical issues ........................................................................................11
ACTIVITY 4..................................................................................................................................11
A) different functional role within Hospitality sector..........................................................11
B)- Communication methods and levels used in an organization........................................12
C)- Coordination and integration within company..............................................................12
D)- Effectiveness of communication methods, integration and monitoring a specific
department............................................................................................................................12

E)- recommendation on coordination and integration enhance overall business performance13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Hospitality is defined as taking care of the guest and anticipation of their demand and
needs. It is about people welcoming other people into their places where they work to spend
their times. This is an art of entertainment and receiving guest.
This report will take new business which will be Cafe business and this new business
name will be Green cafe. it will be nearby the Gymnasium because menus of this restrount will
include healthy salads and range of blended juice and smoothies, so they can attract customers.
Owner of this cafe will open their cafe at Moorgate in London.
This report will analyse how to manage finance and transaction in the new business and it
will include HRM life cycle within the context of HR strategy. In the other activity this report
will illustrate the potential impact of legal and ethical consideration on the hospitality industry.
In the ned of this report will explain fundamentals of coordinating and integrating various
functions of departments within this industry.
ACTIVITY 1
A) financial transaction of new business by identifying the types of sources and documents and
process.
Financial transactions is an agreement, or a carried out between the customers and sellers
to exchange a product for the payment (Baum., 2019). It also involves a change in the status of
the finance of two or more business or individual.
Financial transaction plays important role in the business and it will be important for the
green Cafe business to record their transaction in the documents like – book kipping, so they can
see how much profit they have earned till the end of the day. This transactions run day to day it
includes every transaction of the business like debit and credit, this also include documents like
trial balance.
B)Principles of monitoring and managing financial performance
One of the most necessary work of the business owners to undertake monitoring their
financial performance on a regular basis. Green cafe cannot run their day to day activities
without managing their performance and monitoring their performance, so they can compare that
their previous and current performance of their business. Green cafe cannot be successful if they
don't know how much profit they are making and it can make them successful or not. Financial
transactions will help them to manage their funds and their spends in the business.