Carnival Corporation Hospitality Business Toolkit Report Analysis

This report provides a comprehensive analysis of the hospitality business, focusing on Carnival Corporation & Plc. It begins with an introduction to the industry and the company, followed by an examination of financial performance management, including key principles and KPIs such as food cost and kitchen labor. The report then delves into the double-entry bookkeeping system and the creation of a trial balance. Furthermore, it explores the HR life cycle, emphasizing its stages and importance in talent retention and development. A performance management plan is developed, addressing issues within Carnival Corporation. The report also identifies relevant legislation, including the Food Safety Act and Employment Act, and their impact on the business. Finally, it discusses the interrelation of different functions within the hospitality sector and communication methods. The report concludes with a summary of the key findings.

The Hospitality Business
Toolkit

Table of Contents
INTRODCUTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
P1 The principles of managing and monitoring financial performance.................................1
P2 The double entry bookkeeping system of debits and credit to record sale and purchases 2
................................................................................................................................................5
P3.Produce a trial balance applying the use of balance off rule to complete the ledger........5
TASK 2............................................................................................................................................6
P4 Different stages of HR life cycle of hospitality job role and their importance in retaining
and developing talent..............................................................................................................6
P5 Develop performance management plan for a Carnival Cooperation Plc.........................7
TASK 3 ........................................................................................................................................8
P6 Identify specific legislations that Carnival Cooperation Plc has to comply and adhere to8
P7 Examples related with how company, employment and contract law has potential impact
on business..............................................................................................................................9
TASK 4 .........................................................................................................................................10
P8 Interrelation between different functions and roles within hospitality sector.................10
P9 Different communication method, coordination and monitoring in the department.......13
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODCUTION
Hospitality industry is considered as a accumulation of different businesses that assists in
facilitating a broad range of services appropriate consumers. The main aim of this industry is to
enhance the clients satisfaction level so that its experiences maximises (Bergene, Boluk, and
Buckley, 2014). It do not only focused to facilitating quality services to consumers but this is
also concerned to preparing, coordinating as well as examining many activities in effective way.
For this report is chosen company is Carnival Corporation & Plc which is the British American
cruise operator and is leading travel leisure firm. The purpose of this report is to explain the
principles of managing and monitoring financial performance, Human resource life cycle, trial
balance will be formulated as well as many rules, regulations regarding respective industry.
Apart from this different communication methods utilise by company for attaining their
objectives.
TASK 1
P1 The principles of managing and monitoring financial performance
Principles are considered as a set techniques as well as rules apply to interpret and
examine financial performance of business enterprises. These rules and principles straightly
assists in developing and maximising Carnival Corporation & Plc performance. With the
assistance of this organisational financial performance can also get enhanced and objectives will
be accomplished in effectual way. Some principles for maintaining better financial performance
are mentioned below:
Preparation of financial statement:
This is the essential principle for monitoring as well as maintaining Carnival Corporation
& Plc financial performance which includes the financial statement like profit and loss account,
balance sheet etc. can be prepared in sequential manner by accounts departments of the firm. As
it will assists to improve their financial position for future (Performance & Financial
Management, 2019).
Expenditure management:
The daily expenses of company must be appropriately maintained and handle by
management of the firm. Since the business enterprise is planning to enhance its capability in
making effective decisions (Blair, 2017). Therefore, appropriate management of expenses will be
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the essential task for the company. Carnival Corporation & Plc manager can appoint proficient
team for maintaining as well as coordinating expenditure in proper way. As with the assistance
of team whole expenses such as daily or yearly can be managed in effectual manner.
The above principle will be assists company in formulating suitable guidelines for
organisational working structure and also handle finances in proper way. So the two KPI's for
restaurants are explained below:
 Food cost: The investments done on buying food materials required to be handled in
organized order. Per head food consumption can be examined by computing profitability
margin of each consumers.
 Kitchen Labour: it is computed by evaluating entire food sale of the company. The
kitchen section productivity can known with the assistances of this performance
indicator plan.
P2 The double entry bookkeeping system of debits and credit to record sale and purchases
Double entry book keeping is considered as a system where each transaction is recorded
into two account. It means all activities related with finance will be recorded into 2 different
nominal account (Clark, 2014). The transactions amount will be shown on credit as well as debit
side of financial account. Carnival Corporation & Plc can apply this recording transaction
method for determining its profitability and loss within accounting period.
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P3.Produce a trial balance applying the use of balance off rule to complete the ledger
Balance off rule: As per this rule after accounting year closing few accounts are closed
and some are carried forward to upcoming year. But only these accounts that are obstructed and
moving to another year is called balancing off method (Hayes and Tucker, 201). The main aim
this is to examine as well as measure data that is covered into journal and ledger. This will be
tough for Carnival Corporation & Plc to close whole accounts for measuring its performance for
respective year.
Trial balance is refers as accumulation of different ledger accounts that are shown into
business ledger. So the Carnival Corporation & Plc trial balance are as follows:
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TASK 2
P4 Different stages of HR life cycle of hospitality job role and their importance in retaining and
developing talent
HR life cycle mostly included five stages from that all workers of the company goes
through. So, all that are mentioned below:
Recruitment: It is the initial stage. Herein, appropriate candidates is selected for right
job. Carnival Corporation & Plc HR manager can find out its employees requirements in
company as well as according to that proficient candidates can be selected for food and beverage
department. Before hiring anyone for F&B manager its knowledge, skills are check related to job
role. Proficient workers will protect firm from the chances of enhancing employee retention.
Selection of appropriate food and beverage manager done after knowing their skills related to
F&B management.
Education: Herein, information related to roles and duties of company are provided to
new workers (Helminen, Ainoa and Mäkinen, 201). Carnival Corporation & Plc HR manager can
facilitate training to newly joined employee so that they familiar with the organisational culture
as well as roles of the food and beverage manager. Appropriate information related to F&B
department must be provided to the newly candidates in order to acknowledge them regarding its
duties at work area. As through this workers will not has feeling to leave the company.
Motivation: Herein, the new workers of Carnival Corporation & Plc can be encourage in
effective way so that it can contribute in accomplishing organisational objectives. The respective
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company HR manager can also appreciate their workers as well a food and beverages manager
so that they perform effectively. As it will encourage the candidates to work good and appraising
them for its performance into the department of food and beverages.
Evaluation: Herein, employees performance of examined as well as measured by the
higher authority of the company. After the valuation measure for development can be provide
through superior of F&B manger within Carnival Corporation & Plc. In case human resource
manager is capable to measure performance in expected way then effective relation among the
manager of the food and beverages as well as their subordinates developed and task of particular
department can be accomplished successfully.
Celebration: This is the last stage of the HR life cycle. Herein, workers are appreciated
for their performance and task as well as additional benefits like incentives, gift cards etc. will be
provided through Carnival Corporation & Plc HR manager in order to rise food and beverage
manager and their subordinates morale. As this help to develop sense of belongingness towards
department and firm.
Significance of HR life cycle for overcoming the problems of employee retention and
develop talent
The significance of HR life cycle for resolving the issues regarding workers retention and
developing talent acquisition (Kimbu and Ngoasong, 2017). So, the appropriate utilisation of
human resource cycle will assists in improving the morale as well as the performance of the staff
members and its individuals objectives will be easily accomplished. Therefore, it will enhance
the sense of belongingness in context of firm and also the happening of staff retention can be
reduced and maximising their talents by providing training to their employees.
P5 Develop performance management plan for a Carnival Cooperation Plc
Performance management plan is considered as a flexible tool that is used for developing
the performance of workers and is also called the performance action plan. This can be applied
with powerful performers to find out new manner where they can contribute or with workers
who do not meet expectation. Carnival Corporation & Plc is facing the problems like its waiters
are not fully satisfied with working situation as a result do not want to cooperate with its leaders
of the team. Carnival Corporation & Plc performance management plan are mentioned below:
 Plan: This is the accumulation of the various rules, norms that enable them to attain the
objectives of the company effectively. In respects of Carnival Corporation & Plc, they
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should formulate a set of standards as well as rules to deliver standard quality food in
appropriate quantity. Through this workers can know about the task and enable them to
accomplish predetermine objectives.
 Implement: Using the plan that is set by firm in scenario is considered as implementing.
In context of Carnival Corporation & Plc, they should be intent to place them into all the
functions of business as well as allot them to every workers so that perform consequently.
This assists their employees to put its full potential towards delegate work of firm.
 Evaluate: After executing the plan performance evaluation is done as this enables them
to make effectual decision. In context of Carnival Corporation & Plc, they should
appropriate monitor the workers task as well as develop its performance for obtaining
competitive advantage. Therefore, this enable their staff to find out its capability and take
effective action in order to develop its shortcomings or disadvantage.
 Feedback: Once evaluation is performed then at this stage where firm facilitate services
to consumers in order to provides its feedbacks about the performance of the organisation
(Liu, 2018). In Carnival Corporation & Plc, chef considered the consumers feedback and
according to that corrective actions can be taken for attaining the pre determine
objectives. Thus, this develops positive attitude between employees towards firm that
improve firm's brand image as well as minimise the turnover of workers.
Company faces various conflicts among employer and workers that effects their working
environment. Therefore, its manager accountabilities to manage their staff and facilitate them
appropriate working environment so that productivity and the profit will be maximised.
TASK 3
P6 Identify specific legislations that Carnival Cooperation Plc has to comply and adhere to
Legislation is considered as a preparation of laws by legislative body through their
process of law making. Herein, measuring, amending and voting is included on planned laws
and is related with the words utilise into the bills for communicating values, judgements and
objectives of proposal. Legislation plays a crucial role as it enable firm to facilitate better service
and obtain competitive advantage effectually. Few legislation that Carnival Corporation & Plc
cam comply and adhere to are mentioned below:
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 Food and safety Act, 1990: The main objective of this act is to assure that food should
be provide or sell at good quality for keeping customers hygiene and enhance the profit
and productivity of Carnival Corporation & Plc. Also, this enable them them to promote
its services in an ethical way that develops morale as well as enhance consumers
satisfaction. However, Carnival Corporation & Plc opt this law as it assists them to
facilitate qualitative products at reasonable price for accomplishing the objectives in
successful manner.
 Employment act, 2002: This act includes new regulation on leave and pay adoption,
maternity, paternity as well as modification to the system of tribunal in UK (Ma, Cheng
and Hsiao, 2018). Also, this assure carnival corporation & plc to treat it workers equally
for minimising disputes. It is opt by the respective company as it aids their manager to
maintain healthy relationship with workers in order to gain more profitability.
 National minimum wages act, 1998: This develops a minimum wages for workers that
will be pay according to per hour and its ages in all over UK that enable Carnival
Corporation & Plc to facilitate fair rewards for improving workers morale. Furthermore,
this assists firm to find out the skills of labour as well as utilise its abilities effectually
that develops the growth of sales and profitability margin. However, Carnival
Corporation & Plc follow this legislation to enhance the workers living standards as well
as facilitates encouragement by increasing the wages.
Thus, Carnival Corporation & Plc comply the above mentioned legislation in its business
operation as well as can develop effectual relation and attain long term objectives.
P7 Examples related with how company, employment and contract law has potential impact on
business
Various laws govern the regulations for the smooth functioning of any business. These laws
plays an essential function in achieving the success. Several legislations are used for providing
the guidance to accomplish the desired results of the company. Each legislation and regulation
has its own impact in the business decision as well as the work culture. There are many other
legislations which leads to have negative impact in the working of the hospitality industry.
Company law are the governing bodies which describes the body of corporations. These are the
legislations related to resolving the matters of the life cycle of any corporation. They deals with
the formation, governance, funding along with death of the companies. Employment law refers
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to legislations in the areas which describes the relationships between employer and employee.
Such law governs various federal statues, judicial decisions and administrative regulations. Such
laws are important as they safeguard the employees from discrimination as well as unfair
dismissal (Robinson, Solnet and Breakey, 2014). Contract law are the agreements which governs
the duties of the agreed parties. Such law are used for doing agreement between parties for
performing something. Various examples in the organisations which causes violation of laws are
the following:
 LSER and Wettons are fined for denying the payment of minimum wage to an employee.
 Warburtons was charged a penalty of £2m in violating the provision and handling the
machinery under the act of regulation act 1998. During the working process, the
employer employed a minor person near the machinery area.
 Wilko was fined £ 1.1m for not ensuring maternity leave to a working mother.
From the stated examples it can be said that any organisation faces various complexities
and such laws influences the process of decision making. With regards to hospitality sector,
various legislations and regulations are governed which are mandatory for all the tour and
tourism companies to follow. The Carnival Cooperation improves the enthusiasm of employees
by implementing various laws to enhance the brand image as well as satisfaction of employees
by taking effective decisions for the purpose of gaining competitive advantage.
TASK 4
P8 Interrelation between different functions and roles within hospitality sector
Organisational Structure of Hotel
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