Carnival UK: Financial Management, HR, Legal, and Functional Analysis

This report provides a comprehensive analysis of Carnival UK's business operations. It begins with an introduction to the company, its services, and its financial management, including trial balance preparation and error identification. The report then delves into the HR lifecycle within the food and beverage department, examining recruitment, motivation, education, evaluation, and celebration stages, along with the role of the HR lifecycle in talent management and employee retention strategies. Performance management plans, including 360-degree feedback and critical incident evaluation, are also discussed. Furthermore, the report explores relevant legislation impacting the hospitality sector, such as health and safety, data protection, and anti-discrimination laws, and analyzes their impact on business decision-making. Finally, it examines the interrelation of different functional areas within Carnival UK, such as food and beverage, travel and tourism, and marketing, highlighting how these departments interact and influence each other to monitor the value chain impact.

The Hospitality Business
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Table of Contents

Introduction
Carnival UK is a British company which deal its business in cruise line. It is comes under the
largest travel company which was listed in FTSE 100 and S&P indices. It provides food &
beverages, travel and tourism, accommodation, entertainment and luxuries services to there
customers.
In these report we highlight that how to manage the finance by preparing trial balance and ledger
and find the error in trial balance. The HR life cycle in food and beverage department of Carnival
UK and the importance of HR life cycle. They prepare the plan to find the issues of retention of
employees and the solution for increasing employee turnover. We identify different law in the
organisation and how they affect the business decision-making process. We also highlight the
different functional area and how they are interrelated to each other. It explains the interrelation
with the different department of the company such as food & beverages, HR, Finance,
marketing, travel & tourism etc. It also explains various ways of communicating and
coordinating the information to monitor the value chain impact.

1P1 The methods of monitor and managing company performance
The performance of the Carnival corporation & Plc UK is evaluated by:
 First by identifying the break even point: it is the point at which the amount of sales and
expense become equal so at this point the business does not get any profit or loss.
 Second through calculating the working capital: working capital is the cash which is used
to carry day to day operations of the company. It helps in identifying your business
operating fund (Harrington and Voehl, 2016).
To manage the performance it can be rectified by selling the product and services in large
volume on reaching the break even point. It helps to sell the product and gain the profit within
the time limit.
Measures to improve the working capital of organisation
I) By managing inventory: the inventory should be managed regularly it should not be more
than demand as it requires lot of investment for their preservation nor it should be less
such that it fails to meet the demands.
II) Payment of vendors on time, managing debtors efficiently and improvement in the
receivables process.

2P2. Double entry system to record transaction

3P2. Preparation of trial balance on the basis of journal entries
4P4 Human resource LC stage and their value
It has the various steps through which an employee get the opportunity to be part of organisation.
Every stage has its own opportunities and challenges.
There are five stages in human life cycle:
 Recruitment : Recruitment of beverage & food manager for the Carnival corporation &
Plc UK is done with the help of written test or by conducting an interview. Recruiting of
right people helps the company in productivity, turnover and growth.
 Motivation: Carnival corporation & Plc UK has a diverse workforce the company has
various headquarters and each headquarter follow different culture based on the location
so the employee feel more comfortable with the work environment. A company increase
employee motivation by giving them rewards and recognition.
 Education: Food and beverage manager have to know its accountability and authority in
the company. The company should share its value and ethics with the employee.
 Evaluation: At this stage the employee performance is evaluated by the supervisor. Then
the opinion is made that whether the employee is eligible for the job or not. HR manager

should have a conversation with the employee regarding their work experience in the
organisation and should give them the finest feedback.
 Celebration: the gifts and benefits are given to the employee. It is the stage at which
either the employee gets retirement or leave the job for more pay it is the end stage of HR
life cycle.
Role of Human resource LC in talent management process
 It is a process by which an organisation discover, retain and develops its employee. There
are various benefits of talent management :
1. employee motivation
2. employee performance
 HR first identifies the objective of the organisational and then accordingly and then
develop the role and description for the job
 Then it recruits the skilled employees for the organisation, HR life cycle helps the
company to recruit more eligible and talented employee who are best suited for the job
profile(Kassim and Alias, 2015).
 It provides motivation to the employees and provide more reason to stay in the
organisation by maintain a good working environment and giving rewards and
recognition to the employee, organising various cultural programmes such as festive
mela, music concerts etc., so that people feel belonged to the organisation
 It provides a learning and development programmes to the employee

5P5 Performance management plan
It is method by which the performance of the employees is reviewed. The various methods can
be used to measure the performance of the employees :
 360 degree feedback: It will help the employers as well as employee to understand the
weakness and strength. It also explains the relationship of the manager with its co-
workers to know that whether the employee attitude has recently been changed or not.
 Graphic scale of performance : this method is used by the managers or the higher
authority to evaluate the performance of the employee from poor to excellent and is used
to evaluate performance of various employees simultaneously
 critical incident evaluation: under this method the overall performance of the manager
throughout the year is observed and then the all the good and bad incident during the year
is recorded and on the basis of this employee performance is evaluated
Basis for concerning
performance
Standard for evaluating
performance
Way to improve
performance
Negative behaviour of waiting  Productivity : on the  It can be improved by

staff basis of productivity it
is expected that during
the service season they
have to serve particular
number of customer.
 On the basis of
presentation each staff
have to a uniform to
identify them and
create a sense of unity.
 Customer service
standard: staff has to
present their services
with the proper
greetings and positive
attitude (Cascio, and
Boudreau, 2016).
 Room staff should
deliver room service
and meal on proper
time
updating the
information regarding
the performance of
each staff member and
provide feedback.
 Set consequences and
punishment on not
fulfilling the target.
Staff retention problem  Retain the staff in
company for ling term.
 Select the right person
with higher skills and
positive attitude.
 Provide rewards and
benefits to retain the
employee in the
company.