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The Travel and Tourism Business Toolkit Assignment : Carnival Corporation & PLC

   

Added on  2020-12-18

16 Pages4023 Words225 Views
The Travel and Tourism BusinessToolkit

ContentsINTRODUCTION ..........................................................................................................................4Activity 1.........................................................................................................................................4The different stages of the HR Life Cycle...................................................................................4The importance of these HR Life Cycle stages for Talent Management, focusing on their use for retaining and developing talent..............................................................................................6Evaluation of the importance of the HR Life Cycle in relation to Strategic Talent Management......................................................................................................................................................6Recommendations........................................................................................................................6Activity 2.........................................................................................................................................7Performance Management Plan...................................................................................................7Evaluation of the importance of the HR Life Cycle for overcoming issues of staff retention....7Activity 3.........................................................................................................................................8Identify specific legislation that Carnival UK.............................................................................8Illustrate, using specific examples, how company, employment and contract law has a potential impact on business decision-making.............................................................................9Activity 4.........................................................................................................................................9Critically reflect on the potential impacts of regulations, legislation and ethical principles on decision-making for Carnival UK, providing specific examples.................................................9Activity 5.......................................................................................................................................10Discuss the rationale and principles of revenue management for the travel and tourism industry; and ..............................................................................................................................10Activity 6.......................................................................................................................................11Explaining the Importance of Budgets.......................................................................................11Activity 7.......................................................................................................................................11The different types of financial statements and reporting mechanisms.....................................11Profit and Loss Statements.........................................................................................................12........................................................................................................................................................14CONCLUSION .............................................................................................................................14REFRENCES.................................................................................................................................16

INTRODUCTION In today’s time travel and tourism industry is increasing and expanding itself very fastdue to which companies as well as countries get benefit by enhancing their profitability andeconomy. Travel and tourism industry related to the sector in which operating its businessfunctions and operations in hospitality industry and their main objective is to provide allnecessary and essential services as well as products to their travelers or customers (Ramasastry,2015). Organization taken for their assignment is Carnival Corporation & PLC which is a BritishAmerican company established in year 1972 by Ted Arison. Its headquarter is in Miami, Florida,United State and they are operating or conducting its business at worldwide level. They mainlyprovide cruise service. Topics included in this assignment are key principles of revenuemanagement for respective sector and Human resource life cycle in respect of HR strategies.Along with this it will explain impact of legal and ethical consideration on travel and tourismbusiness as well as it will include how management can manage budget, statistical data andfinancial record. Activity 1The different stages of the HR Life CycleHR lifecycle refers to procedure in human resources management wills describe aboutstages of time which is given by an employee to an organization and responsibilities played byhuman resources department on each and every stage of process. Moreover, it majorly includessix stages and all stages of HR life cycle represent challenges and opportunities through whichcompany able to gain high profit and market shares. Explanation of which in context of CarnivalCorporation & PLC are given below:- Attraction – First stage of employee life cycle is related with employee attraction. Thisrespective stage will take place before an opening of a vacancy or position (Ebbers, 2014). In thisstage respective company will develop strategies in order to attract new candidates for vacantposition such as in Carnival Corporation & PLC there is requirement of receptionist so for thisthey will conduct those activities which help them in attracting more and more candidates forempty position. These activities are related with promotion, advertisement, increasing brandimage and many more.

Recruitment – At respective stage manager of respective company identified newcandidates that are according to skills as well as abilities which they presented in advertisementof vacant position like identifying skills and competencies according to role of receptionist. Afterfinding huge number of applications of applicants Carnival Corporation & PLC management willconduct various steps related to recruitment. In this they will conduct interview process that willhelp them in finding appropriate candidate with specific skills and ability. On – boarding – This step will conduct after recruiting and joining of new employee forspecific position. In this step management of respective company will provide all detailedinformation related to job profile which new employees have to conduct as well as managementwill also provide workstation. This will generally take place after completion of all paperwork(Shi, Leeand Whinston, 2016). Along with this respective company will also provide or arrangetraining and monitoring activities so that new employees get to know how they have to completetask in effective manner.Development – According to this stage manager of Carnival Corporation & PLC willconduct workshops, development courses, training programs and many more so that theiremployees enhance their skills, knowledge and ability. Through these type of activities orprograms, staffs of Carnival Corporation & PLC able to enhance their skills and ability whichhelp them in conducting work in appropriate way. Along with this it will also help employees inenhancing their future. Retention – On the basis of this stage manager of Carnival Corporation & PLC willdevelop strategies and plans in order to retain their employees for a long term. For this theycreate strategies as well as policies according to situation and issues through which company andemployees going through. Moreover for this respective company manager also conduct meetingso that they understand situation properly. Separation – According to this stage employees started leaving workplace ororganization for a specific reason. It can be personal or professional, due to this productivity ofcompany get effected (Mohamedand et.al, 2015). In Carnival Corporation & PLC employees areadopting for separation because they are not feeling satisfied with workplace, salary and so on.

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