Travel and Tourism Sector Analysis

The provided study concludes that the travel and tourism sector is the largest sector in the world. It highlights various departments within a company, such as finance and HR, and their roles in enhancing the work of the company. Additionally, it discusses laws used for doing business in other countries.

THE TRAVEL AND TOURISM BUSINESS TOOLKIT

Table of Contents
INTRODUCTION...........................................................................................................................................3
LO1..............................................................................................................................................................3
Two Key performance Indicators for restaurants...................................................................................3
Preparation of journal entry, ledger and trail balance............................................................................4
Trial Balance...........................................................................................................................................8
LO2 .............................................................................................................................................................8
Different stages of HR Life Cycle.............................................................................................................8
Importance of HR life Cycle Stages for talent management...................................................................9
Performance Development Plan...........................................................................................................10
LO3............................................................................................................................................................11
Different legislation that is being used by Carnival UK.........................................................................11
Impact of regulations, legislation and ethical principles on decision making ......................................11
LO 4............................................................................................................................................................12
Different functional roles within hospitality sector..............................................................................12
Different methods of communication, coordination and monitoring in the food and beverages
Department and its usage in strengthening value chain......................................................................12
CONCLUSION.............................................................................................................................................13
REFERENCES .............................................................................................................................................14

INTRODUCTION
Travel and tourism industry provides pleasure to the people who are interested in
traveling from one place to another.. Tourism can be at international or domestic level. It is an
important source of income for many countries. Travel and tourism is the biggest sector in the
economy.
Present study will be based on Carnival Corporation & PLC. It is a British American
cruise operator. It was founded by Ted Arison in 1972. Its headquarter is located at Miami,
Florida, United States. It is a dual listed company composed of two companies, Carnival PLC
and Carnival corporation that has one entity (Boniface, Cooper and Cooper, 2016).
Report will include journal entries, ledger and trail balance. It will also include key
performance indicator for restaurants. Furthermore, it will include different stages of HR Life
Cycle and its importance for talent management and resolving negative behaviors of the waiting
staff.
LO1
Two Key performance Indicators for restaurants
Two key performance indicators for restaurants are:-
Cash Flow: Cash flow means inflow and outflow of cash from the business. As in restaurants it
plays an important role in achieving success for it. Cash Flow helps in calculating that how much
money is being earned by restaurants and through it indicate performance of restaurants. As cash
flow is used as a key performance indicator as it shows inflow and outflow of cash from the
organization. Furthermore, it will help in the development as proper cash flow is there in the
company leads to growth for it.
Retention or repeat Visitor Rate: Retention rate of restaurant indicate the performance that
employees are satisfied with their job or not. As retention rate helps in growth of restaurants. If
retention rate of the company is good then it will help in development. It further helps in
enhancing company's performance.
Principles of managing and monitoring financial performance are as follows:-
Organize the finances:-Organizing the finances is the first step that helps in creating the wealth
for the company. As company have to maintain software that helps in tracking the accounting
records of the company. As having software's in the company will help recording the
transactions easily and all the work will be systematic.

Understand Risk:- Risk is the common factor that business have to take before starting its
business. More the risk more return the company will get from it. Like stock and bonds is having
high risk as investing there is a greater risk and it gives higher return in the end.
From the above principles I will recommend that the company have to organize its work
from starting so that it will not create problem in the future. Risk is also another principle of
monitoring financial performance in the company. High the risk high will be the return. So for
monitoring performance company should monitor these principles (Xiang, Magnini and
Fesenmaier, 2015).
Preparation of journal entry, ledger and trail balance
JOURNAL ENTRY
Date Particular L.F
.
Debit
amount(£)
Credit
amount(£)
1 Feb Purchase a/c
Dr.
To Kate Kitchen
To Harry
34553
5001
29552
3 Feb Cash a/c Dr.
To sales
11203
11203
3 Feb Cash a/c Dr.
To Sales
1824
1824
6 Feb Kate’s a/c
Dr.
To bank
5001
5001
10
Feb
Cash a/c Dr.
To Sales
8966
8966
10
Feb
Cash a/c Dr.
To Sales
1687
1687
14 Bank a/c Dr. 2008

Feb To Maganne 2008
17
Feb
Cash a/c Dr.
To Sales
11710
11710
17
Feb
Cash a/c Dr.
To Sales
1611
1611
17
Feb
Harry a/c Dr.
To Cash
29552
29552
22
Feb
Cash a/c Dr.
To Kate
7013
7013
24 Feb Cash a/c Dr.
To sales
10614
10614
24 Feb Cash a/c Dr.
To Sales
1715
1715
LEDGER ACCOUNT
Cash a/c
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount(£)
3 Feb To Sales 11203 17 Feb By Harry 29552
3 Feb To Sales 1824 By Bal. c/d 26791
10 Feb To Sales 8966
17 Feb To Sales 1687

17 Feb To Sales 11710
17 Feb To Sales 1611
22 Feb To Kate 7013
24 Feb To Sales 10614
24 Feb To Sales 1715
56393 56393
Purchase a/c
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount(£)
1 Feb To Kate
Kitchen
5001 By Bal c/d 34553
1 Feb To Harry 29552
34553 34553
Sales a/c
Date Particulars J.F. Amount(£) Date Particulars J.F. Amount(£)
To bal c/d 69916 3 Feb By Cash 11203
3 Feb By Cash 1824
10 Feb By Cash 8966
10 Feb By Cash 1687
17 Feb By Cash 11710
17 Feb By Cash 1611
17 Feb By Harry 29552
24 Feb By Cash 10614

24 Feb By Cash 1715
69916 69916
Bank a/c
Date Particulars J.F. Amount Date Particulars J.F. Amount
(£)
14 Feb To
Maganne
2008 6 Feb By Kate 5001
To bal c/d 2993
5001 5001
Maganne a/c
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount
(£)
To Bal c/d 2008 14 Feb By bank 2008
2008 2008
Kate’s a/c
Date Particulars J.F. Amount
(£)
Date Particulars J.F. Amount
(£)
6 Feb To Bank 5001 1 Feb By
Purchase
5001
To Bal c/d 7015 22 Feb By cash 7015

12016 12016
Harry a/c
Date Particulars J.F. Amount(£) Date Particulars J.F. Amount
(£)
17 Feb To Cash 29552 1 Feb By
Purchase
29552
29552 29552
Trial Balance
S. No. Particulars L.F. Debit Amount(£) Credit Amount (£)
1. Cash a/c 26791
2. Purchase a/c 34553
3. Sales a/c 69916
4. Bank a/c 2993
5. Maganne a/c 2008
6. Kate a/c 7015
7. Suspense a/c 10586
76931 76931

LO2
Different stages of HR Life Cycle
There are 5 stages of HR Life Cycle for food and beverage manager on a Cruise Ship
Recruitment
Training
Motivation
Evaluation
Exit
As Food and beverage manager of HR life cycle starts with his entry in the company to
its exit from the company.
Recruitment: As firstly the manager is being appointed by HR head of Carnival Corporation &
PLC Company. Then manager is appointed for food and beverage department.
Training:Then manager is giving training for handling the food and beverage department of the
company. After completion of training his responsibilities start regarding company on a cruise.
Then he is motivated to do work effectively and efficiently.
Motivation:Through motivation employee performance will increase and the manager is
operating in cruise in serving food and beverage for its customers.
Evaluation:After some days working in the company manager performance is evaluated by the
HR department by taking feedback from other employees that are working there. Different
employees is having different opinion with respect to performance and services provided by the
manager of cruise operator (Fang, Ye and Law, 2016).
Exit: And the last stage is exit from the company by performing its best by serving good. The
customers that help in growth of Carnival Corporation & PLC Company.

Importance of HR life Cycle Stages for talent management
Stages of Hr life cycle plays an important role in the process of development and
retention of talent in the company as these stages are help in improving the process of
development in retention of talent in the organization. As first stage is the recruitment that helps
in selecting the best talent for the company so that employees are more retaining in the company.
Then, in training helps in the development of new employee and also enhances retention of new
talent. If good training is provided to the employees then employee will retain in the company
for longer duration. Thirdly, Motivation also plays an important role in development of
employees and helps in retaining employees in the company. Motivation can be in any form like
paying extra benefits to employees so they get motivated and do work effectively.Fourthly,
evaluation helps in measuring the performance of employees that will help them in improving
their work. Lastly, Employee take resign from the company leave it by performing all its duties
and responsibilities. (Moutinho and Vargas-Sanchez., 2018).
Recommendations
As from the above analysis it is being recommended that Hr processes and
documentation helps in improving effective talent management through hr Life Cycle as it
includes the entry of new candidate in a certain period that indulges more employees in the
company. So Carnival Corporation & PLC have to adopt the Hr life cycle in the company that
helps in enhancement for the company.
Performance Development Plan
As different companies is having different policies regarding the waiting staff of the company.
Carnival Corporation & PLC is the cruise operator company that operates in different countries.
As waiters in this company is having negative behavior regarding their work that enhances the
employee turnover in the company and it’s a loss for it. They complain about the working
condition of the company (Tan and et. Al., 2017). As the company is giving additional task to its
employees so they behave in the negative way. For resolving the negative behavior of waiting
staff company have to adopt different practices for decreasing the negative effect of staff towards
company. Companies don’t have to overburden the staff in doing work in the company that leads
to stress and tension among them. For resolving the negative behavior of staff company have to
reduce their stress so that they can work effectively and efficiently in the company. Negative
behavior of staff lead to employee turnover in the company as they are not satisfied with the
condition of company. It will impact the performance of company as well. By enhancing the
employee engagement in the company will help in removing negative behavior of the staff (Wu
and et. Al., 2016).
Overcoming from the issues of staff retention

There are several ways that helps in overcoming from the issues of staff retention as
hiring the right people for the right job. Hire people that best fit in the company so that there is
less employee turnover in Carnival Corporation & PLC company. At the time of interview the
interviewer have to ensure that best candidate is to be selected. If employees are not fitting in the
environment then they will not be happy in the company. Offering best pay and benefits will
help in retaining the employee. As for doing additional work they have to pay extra benefit to
them so that it reduces employee turnover in Carnival Corporation & PLC. Also by giving praise
to staff and encourage them to do work effectively. By encouraging them to do choose right path
for employees that enhances best it (Mahrous and Hassan 2017). Allowing flexible work hour to
the employees will help in increasing retention of employees. It helps in creating work life
balance for employees.
As HR Life cycle helps in overcoming this issue of staff retention in the company as at
the time of recruitment right candidate is to be selected so that it helps in increasing retention in
company. HR life cycle is the main cycle that is performing in the company for overcoming this
issue.
LO3
Different legislation that is being used by Carnival UK
There are different laws that are used in Carnival UK are as follows:
Health and safety act 1974: It states that there will be proper health and care rules for
the employees in the company. As health and safety plays an important role in the company that
enhances growth of employees. If employees are not feeling safe then they will not be happy
and can’t work effectively and efficiently. It is necessary in providing proper lighting to the
employees, ventilation at the workplace. The main provisions under this act are providing
adequate lighting, heating, ventilation and work space for employees. It also provide staff
facilities including toilets, washing facilities and refreshment to employees. (Sangster, 2015).
Equality act 2010: This ensures that all the employees is being treated equally in the
company. There is no discrimination between the employees regarding the age, gender, race,
religion or belief. All will be treated equally. There are no differences in the characteristics from
person to person is being violated in Carnival Corporation & PLC. Company have to treat their
employees equally so that it will not create injustice in the company.
Employment act 2018: This act ensures that every individual is having right of doing
work. It includes that total number of hours that is being worked by the employees are given pay
accordingly as how many hours they are worked in the company. This act emphasizes on
providing proper employment to people in the country.

Discrimination act 1975: This act states that there is no discrimination is done with the
employees related to personal characteristic, age, race, religion, belief in the company. This will
lead to feel unsafe and insecurity in the company (Sangster, 2018).
For example: In Carnival UK someone applies for the receptionist post and the company is not
doing discrimination in male and female then it follows equality act in the company.
Impact of regulations, legislation and ethical principles on decision making
According to the Tan and et. Al., 2017 As there is a health and safety act that ensures
proper safety at workplace. As this will impact the working of the company. Quality is the
another ethical principle that the company have to maintain for its guests and employees. It the
quality is not good then the consumer will get disappointed from the services.(Bryer, 2016).
Brye, 2016 stated that discrimination act says that there is no discrimination at
workplace based on age, gender, race or religion. As decision making in the company is mainly
influenced by the ethical issues that is being faced by the company. These dilemmas are
according to the strength of participants.(Basu and Waymire, 2017).
LO 4
Different functional roles within hospitality sector
There are different functional roles that are being used in the hospitality sector such as
Housekeeping with front Office:- As they both are interrelated with each other. Front office has
to ensure that there is proper cleaning done by the housekeeping department so that it will not
affect the working of employees. As front office also have to ensure that there will cleaning in
in the company as its equal responsibility of front office as well.
Marketing with front office:- As they both have to demonstrate their work in carnival by
providing their best services. As marketing manager have to use different marketing strategies so
for that it have to ask front office to behave with the customers good that will help in attracting
more consumers towards it.
Different methods of communication, coordination and monitoring in the food and beverages
Department and its usage in strengthening value chain
As per the view Rodrigues., Carqueja and Ferreira, 2016 there are several methods in
communicating, coordination and monitoring in the food and beverage department as face to face
communication can be done so that if any query is there it will be resolve easily by the
department to its customers. As it enhances easy communication with the customers and

monitoring easily with them. They can also communicating with them by asking for feedback
from the customers that will help in improving their services to them.
According to the Mann, Funnell and Jupe, 2016 that internal communication also helps
in monitoring the employees and enhances the services of the department. Communication plays
an important role for the food and beverage company so that they will improve their services.
This helps in enhancing communication for company. These methods help in achieving the
organizational objective of Carnival Corporation & PLC company as through communication
employee engagement is increasing that achieve success of the company. Helps in earning more
profit and revenue.(Methods of communication, 2016).
CONCLUSION
From the above study it can be concluded that travel and tourism sector is the largest
sector in the world. As there are different departments in the company that plays their individual
role in the company. As Finance department regulates the cash flow in the company and keeping
records that will help in making balance sheet at the end of financial year of the company. As in
company there different stages of HR life cycle that is being used to enhance the work of the
company. It also helps in improving communication and making the performance planning.
There are different laws that are being used in the company for doing business in other country.

REFERENCES
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