Detailed Report on the Hospitality Business Toolkit for Unit 4

This report provides a comprehensive overview of the Hospitality Business Toolkit, focusing on key aspects essential for effective management within the hospitality sector. The report begins by examining principles of managing and monitoring financial performance, including budgeting, financial analysis, and key performance indicators. It then delves into human resource management, exploring the HR life cycle, talent management strategies, and performance management plans to address negative behaviors and staff retention. The report also analyzes relevant legislation, including employment and contract law, and their impact on business decision-making within the hospitality industry. Furthermore, it illustrates the inter-relationship of different functional roles, communication, coordination, and monitoring methods. Through detailed analysis and practical examples, the report offers valuable insights into the multifaceted nature of the hospitality business.

UNIT 4 THE HOSPITALITY
BUSINESS TOOLKIT

Table of Contents
INTRODUCTION...........................................................................................................................1
LO1..................................................................................................................................................1
P1. Principles of managing and monitoring financial performance............................................1
P2. Double-entry book-keeping to trial balance.........................................................................2
P3 Basic trial balance and ledger................................................................................................5
LO2..................................................................................................................................................5
P4. Stages of HR Life Cycle and its importance on Talent Management. .................................5
P5. Develop performance management plan to reduce the negative behaviour and issues of
staff retention..............................................................................................................................7
LO3..................................................................................................................................................9
P6 Specific Legislation of hospitality organization....................................................................9
P7 Using specific examples illustrate how company, employment and contract law has a
potential impact upon business decision-making in the hospitality industry..............................9
P8. Inter-relationship of different functional roles within the hospitality sector......................10
P9. Different methods of communication, coordination and monitoring.................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Hospitality services is very important in the economy of the world as it have wide options
within this field such as cruise line, restaurants etc. This report includes the various principles
which can help the organization to handle the financial report by creating a budget which will
keep the track of all expenditures, income and transactions and can compare with the financial
results later. This report shows the different steps in HR round selection and importance of talent
management keep the employees for a longer time. It also includes the plan of performance
management to reduce negative behaviours and employees resignation.
LO1
P1. Principles of managing and monitoring financial performance
Monitoring and managing the report of finance are the first steps for the effective money
management (Principles of Financial Management, 2019.). There are some principles which will
help in understanding the financial situation and how to manage it.
11 Budgeting can helps to see the financial status with full clarity and transparency. It will
help in understanding the expenses and income for better management of money.11 The budget analysis should be done thoroughly, the budget purpose towards goals and
objectives must have clear recognition.11 Comparison of finance report and budget should be done on daily basis for observing
changes in company, detect problems or correction, measurement of finance presentation,
to make clarity on exceeding costs and expenditures which may be reasonable to
accomplish the organisation goals.11 The financial performance can be better if the organization operate within their budget
and try to control if it exceeds (Chung and Chung, 2018). There must be proper policies,
rules and regulations for commanding expenditures and must evaluate financial
consequences and try to change or eliminate before starting the new activity.
Key performance indicators
Benchmarking: This are used to motivate employees to achieve measurable targets and the
employees help to increase the overall performance of the company by meeting these targets.
Balance score card: It is a strategic management to determine and improve various internal
functions of the business and resulting outcomes. It is used to provide feedback to organisation.

P2. Trial balance sheet for double-entry.

P3 Basic trial balance and ledger.
LO2
P4. Steps in HR round and its value for Talent Management.
HR Life Cycle defines the time period of employees in the organization based on their skills and
performance or talent (Human Resources Life Cycle, 2019.). The HR life cycle for the role of
food and beverage manager on a cruise ship includes:

11 Recruitment: Growing the business requires recruiting right people as it is very
important in turnover, productivity and growth. This recruitment phase requires the
strategic plans to hire the best food and beverage manager which can handle the
administration on cruise ship (Bowie and et.al., 2016). The talent management are
responsible to select the most excellent and talented workers.11 Education: The Human Resource must determine the educational qualification of the
hiring general manager. The communication skills of the manager must be good in order
to interact with the superiors and people. Another quality an employee for food and
beverage manager post must have ability in decision making as it have to analyse
situations and determine the solution.11 Motivation: HR role is to motivate the new hired employees to work for their company.
The food and beverage manager must have ability to build relationship with the new
hired waiters or waitresses in the first ninety days help them to retain and stay for a
longer time. Talent management provides motivation, helps them to feel engaged, skilled
which help them to work towards the organizational goal and improves performance.11 Evaluation: In this cycle, a supervisor evaluates the performance of general manager.
Team management equips the task which require critical skills for planning and
organizing and providing specialized roles to enhance the skills of manager, improvement
in the employee's performance which will help them to identify the best employees
suitable for the job. By investing in talent management the companies can select skilled
people by applying strategies it will provide organization the opportunity to attract skilled
and talented employee.11 Celebration: At this stage, employees are appreciated for their hard work and provide
opportunities to achieve company's goals, benefits, flexible work schedules etc. The food
and beverage manager must respect waiters or waitresses so that they can feel empowered
with including them in decision-making process for better services.
P5. Planning of manangement plan and specific areas to improve the performance
Specific areas to be
improved
Actions to be taken to
improve performance
Time-frame for
improvement
Progress
achieved
Negative behaviours Flexible working hours for
the employees, by
1-2 years No

providing incentives and
bonuses to the staff who are
doing time and working
hard. Waiters at Carnival
Corporation & PLC are
complaining about the
working conditions and are
unwilling to cooperate with
the team leaders.
By creating positive
environment and right
culture which will help
them to work towards the
company's goal, reduce
threatening and offensive
behaviour and offering
reasons to stay motivated
such as opportunities for
growth.
0-1 years Yes
Staff Retention Appreciate the employees
for their hard work and
achieving every task and
challenges. Providing them
gift cards and extra paid
off. Celebrate and take
deliberate measures to
make them happy to work
for the company.
1-2 years No
By encouraging their ideas
and decisions, offering
0-1 years Yes

training and guidance to
improve their skills will
make them engage more
towards the company's goal
and will get an idea for
what brand they are
working. The major
problem employees leave
the jobs because of their
bosses (Anderson and et.al.,
2017). So company must
hire leaders instead of
bosses which can cultivate
the environment where
employees feel rewarded
and gratified.
LO3
P6 Identify specific legislation that a hospitality organisation has to comply and adhere to
Laws that hospitality organisation has to follow
Legislation or laws which the Carnival UK has to consider before entering into a
hospitality organisation. There are many rules which the industry has to follow such as fire
regulation, food hygiene etc. Anything goes wrong in this industry there is no excuse is allowed
in the eyes of law and the result might be criminal or civil depends upon the actions.
Data Protection Act 1998
At the time of implementation of booking process hoteliers were taking the bookings
from guest need to be compliant from Data Protection act 1998 as well as credit card order act
1990 (Queckenstedt and et.al., 2017). while processing any bill the personal information is also
store with them like credit card .
Trade Description Act 1968

While doing the advertising, marketing of pamphlets or updating in website leads that
they must be ensure that they did not mislead the potential guests like double quoting of price or
increase the price that has already been quoted. At the same time Carnival UK must give
accurate description regarding the facility offer by the hospitality industry.
Business Names Act 1985
Every new hotel is having the regulatory obligation in the process of name owners of the
Carnival UK must have to display the notice of owners name and not the same as business name.
Stationary produce of the hotel must have the own name, address, and other relevant contact
information even on the invoice of goods and services.
Business Names Act 1985
Every new hotel is having the regulatory obligation in the process of name owners of the
Carnival UK must have to display the notice of owners name and not the same as business name.
Stationary produce of the hotel must have the own name, address, and other relevant contact
information even on the invoice of goods and services.
P7 Expalin the specific law that helps to hospitality industry by giving suitable examples.
Various legislations have been passed by the government in hospitality sector and they are
Employment law 2019: It interlinks the regulation between the staff of an industry. It basically
governs what employers can expect from employees. Carnival UK has to make the rules,
regulations and policies related to the new updated law. The hospitality industry’s decision
making can be affected, as the human resource department can make the policies related to
flexible working options which has been amended in the law currently. Also the human resource
department of Carnival UK can also need to make law (Nayak and Taylor, 2018). Also under the
employment law the company is bounded to provide the safe and secure working environment to
all the workers working under them. Also Carnival UK needs to make policies related to
discrimination, they must make sure that there exists no discrimination. They also need to protect
the persons, who are not working at the workplace. The company also make decisions related to
the data protection in which the primary objective of Carnival UK must be that the personal data
of all the employees must be kept safe and secure.
Contract Law 1994- In this the Carnival UK has to make rules and regulations where they
provide security during the sales to both the sellers and the buyers. In this the law the employers

need to come up with the contract of giving minimum wages to the workers and employees who
are working with them. This can also give the workers a sense of security.
P8. Inter-relationship of service sector
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
Various departments in the hospitality industry which are inter-related and has an effect the
working of one another. It is important for all the functional units to work together so that the
organization can grow.
Marketing is inter-related with the human resource department of the Carnival UK. The human
resource department of the company is engaged in hiring and acquiring the efficient and talented
staff for the particular job role in the organization. The department has the main aim of recruiting
talent so that the organizational objectives can be achieved. Through marketing the human
resource department of Carnival, UK can make people aware about the vacant job role in the
company. The HR department primarily serves the company’s employees. Due to the connection
with employees, the department can share the brand messaging created in marketing with
employees through training sessions, evaluations, and employee orientations.
Marketing department has also the huge connection with the production unit as marketing team is
engaged in analysing the needs and demands of consumers that helps production unit of Carnival
UK in producing the goods and services. This affects the profitability aspects of the hospitality
industry (Liu, 2018). It helps in increasing the revenue of the organization. The production Unit
have the responsibility to produce the quality goods and marketing function have the duty of
satisfying consumer needs, so the company must make sure that there are no conflicts between
the marketing and production unit.
Marketing is also inter-related with the company, so this is very necessary to relate the finance
and marketing so the company can give great results for the growth of the industry.
P9. Different methods of communication, coordination and monitoring
Company name: Carnival UK