Effective Financial Management in Hospitality Case Study

Enhancing HR Practices in Hospitality Industry

Introduction

Hospitality management has a huge impact on customer service but some of the major aspects need to be managed in effective management. Financial management as well as human resource management plays an important role in the development of the business. The hospitality industry took for this study is the Whitbread hospitality industry. This industry has a huge impact on the development of customer service in an effective manner. The financial aspects are conducted effectively along with human resource management. Whitbread is facing some issue it needs to be taken care of some recommendations are also provided for the development of the organisation.

Activity 1: A

Introduction to financial transaction

The hospitality industry has various other measures that need to be taken care of for the management of the industry. The financial sector can be analysed in a step-wise manner with the help of accounting cycle steps that help in the proper management of finance effectively. The trial balance is prepared with the help of debits and credit from journals and the trial balance will be prepared. The accounting cycle helps in first identifying the business event and analysing the transaction and this can be done by keeping a record through a journal entry. The next step is posting the journal entry to the T- account or ledger account. The next step is preparing a trial balance from the general ledger. The trial balance will be not adjusted and then prepare an adjusted journal entry and then adjust the trial balance (CORE, 2019). The adjusted trial balance will help in preparing a financial statement. The closing step of the accounting cycle is the closing of the entries that support the closing of the trial balance. The next is the preparation of the post-closing trial balance for the next accounting period and finally the preparation of reversing entry and adjustment entry. These are the major accounting step that needs to be taken into concern for the development of the financial statement.

Monitoring and managing principles

The major step that needs to be taken for the investigation of the financial sector by monitoring and managing the process effectively. First, the preparation of a financial statement should be made in an effective manner then the next step is to prepare a debtor Trail Balance. These are the most important aspects that need to be main for the management and monitoring of the major aspect of finance (del Vecchio et al. 2021). Investigation can be done by preparing the inventory record as many organisations maintain a record of raw materials well as many pieces of equipments are also maintained in an effective manner. The next major process included in the investigation process includes the preparation of financial ratios and the preparation of working capital. The fund and cash flow statements are to be prepared in an effective manner that helps in analysing the extra expenses. The Analysis of overhead includes the overhead expenses such as salaries of employees and marketing g expenses. The marketing and human resource expenses also need to be analysed for managing the extra expenses. The last step of analysis includes creating the dashboard.

Double-entry bookkeeping system

Double entry bookkeeping is a system that helps in maintaining every translation that includes debit and credit. The double entry bookkeeping maintains a record of every transaction in an organisation. The principles of the Double entry system include Debits being written to the left and credits being written to the right. Every debit will have a credit. The last principle is debit receives benefits and credit gives benefits. These are the basic principles that are to be taken care of for the maintenance of bookkeeping in an effective manner. It helps in providing effective support in the calculation of the business loss as well as business profit in a clean manner (Suryaningrum, 2019). The debit must have a credit this shows the equality concept and displays every single missing part of the book.

Analyse the data of sales and purchase transaction

Trail balance helps in maintaining the credit and debit of the business and posting it to the general ledger this is used for the verification of the trail method that includes the debit total equal to the credit total. This is conducted by the mathematical process for the calculation of the process in the maintenance of business in a well-calculated manner.

The trial balance of sales

Ledger account	Debit £	Credit £
Cash (asset of DEAD)	10000
Inventory	5000
Capital (capital of CLIC)	6000
Purchases (expense of DEAD)	4500
Short term loans	2000
Sales (income of CLIC)	5500
Bank loan (liability of CLIC)	3000
Operating expenses	9000
Accumulated depreciations	9000
Common stocks	3000
28500	28500

Table 1: Trail balance

The above table shows the trial balance of sales and various other aspects that help in effectively analysing the business. It also provides an effective balance between debit and credit (Firstintuition.co.uk, 2023). The outcome displayed in the table shows that every aspect is managed in an effective manner to provide a perfect balance between the two.

Trail balance analysis and rectification

The trial balance is to ensure that the accounting equations such as "Assets= Liablities+ Eqquity" The error of trail balance will be identified in very simple methods that include the imbalance between the credit and debit of the balance sheet. Sale is an effective part of the business and it comes in the credit side of the trial balance if the customer returns the products or service without using then it comes under the debit section. This will provide a perfect balance between the two aspects. The balance sheet displays an effective balance if there is any imbalance between the total of debit and credit then the Trail balance can be analysed by identification of the cycle completion and identity of the closing entries. Identification of the problems in the transaction then reverses the expenses to the actual balance to identify the problematic area for the balance sheet. Creating an effective balance by adjusting the entities, needs to be analysed in an effective manner and then crosschecking the entities (Murri et al. 2020).

Analysis of the trial balances allows ABC company to participate in the reviewing of their account balances that helps in understanding the corporation's performance and positions.

Asset accountants:

• Cash: The firm has 10,000 USD in cash on its hands
• Inventory: The firm has 5,000 USD worth of inventory
• Capitals: The company possess 6000 USD capitals

Equity and liability accounts

• Short-term loans: The organisation has borrowed 2000 USD in short-term loans
• Accumulate depreciations: The accumulated depreciation on the constructions is 9000 USD
• Bank loans: The company borrow bank loans of 3,000 USD
• Common stocks: 3000 USD presents the shareholder's capital contributions

Income accounts:

• Sales: The corporation has generated 5500 USD in sales revenue
• Operating expenses: The company invested 9000 USD in their operations

The trial balance seems to be maintained with the total debits equaling total credit balances. that is an adequate sign of recordkeeping accuracy. the company also possess a net profit income. The bank loans and short-term loans indicate the company's financial obligation that is required to be handled however it is a short-term basis condition. The building accumulated depreciation represents the buildings allocated cost to account for the period for its minimises in the value (Calinaud et al. 2021). This analysis helps in understanding that the firm's profitability and financial situation are under control. That helps in further context of analysis by helping the account manager in developing informed decisions. that can be valuable for the corporation's financial health. Along with that it also helps in providing an understanding of the requirements of comparison between previous financial records with current records of the corporation. That helps in minimising the financial risk of the organisations.

This process will not only rectify the balance sheet of trail balance but also gives a detailed description of the monthly transaction report.

Management of different types of cost

Types of costs incurred in the hospitality industry include mortgage, lease expenses, insurance, and taxes associated with the property. The next expenses include staff salary and fixed utility bills, health premiers of employees. The last part of the cost includes maintenance charges for software management and equipment. These are major expenses handled by the financial department for managing extra expenses and reducing the cost to the largest extent. Reducing the cost to a huge extent the training of the employees and scheduling of various aspects helps in reducing the cost of labour. The tax and insurance are to be maintained in an effective manner to reduce extra expenses by making a checklist and listing according to that for the development of the organisation (Brigham and Houston, 2021). Effective technology must be used for the maintenance of various aspects such as employee management and equipment cost. Technologies such as automatic power off will reduce expenses in terms of electricity savings and saving extra charges.

In hospitality sectors cost minimisation is essential for profit maximisation. The examples of the cost and cost minimisations are as follows-

Fixed cost:

Alrawabdeh (2021) opined that These costs are defined as the remaining constants regardless of business activity levels. For Intense contains rent for the property of a hotel, permanent staff salary or insurance premiums. to decrease the fixed cost, organisations can intervene in adequate lease terms with decreasing the energy consumption via entirely efficient approaches as well as optimising staffing levels.

Labor cost:

Ivanov, and Webster, (2019) opined that these are the cost that includes benefits, training and wages that has significant expenses within the hospitality sector. Decreasing the labour cost can be achievable via cost training of the staff and effective scheduling to manage implemented technologies such as automated order technology self-check-in kiosks and multiple role tools.

Variable costs:

Djajasinga et al. (2021) stated that Variable cost is the cost that fluctuates within the trade volumes for an intense in the hospital sector including beverage and food costs utility bills and cleaning supplies To decrease these variable costs organisations can implement an "inventory control system: that helps in negotiating with their suppliers for adequate pricing as well as implementing energy saving measurements.

Food cost:

Ivanov, and Webster, (2019) stated that In catering and restaurant service food cost is the main concern approach that helps in minimising the cost of the foods that include ports and control careful menu strategies Local food sources help in minimising food waste by reducing the transportation cost via appropriate preparation and storage technique.

Maintenance and renovation cost:

Djajasinga et al. (2021) opined that, In order to keep the property well maintained we maintain guest satisfaction the hospital industry needs proper maintenance and renovation costs This has a huge impact on the financial aspect of the organization to decrease this renovation and maintenance cost the organization can adopt preventive maintenance schemes by using durable materials that help in privatising the renovation strategically to avoid the unnecessary expenses.

Technology cost

Wright et al. (2021) opined that, With the increasing adaptations of new modern technology the budget of the hospitality sector is showing an order to minimise this technology cost the organization needs to evaluate their technology requirements carefully with considering outsourcing IT
supports as well as negotiating favourable contracts with service and software providers

Supply chain cost

Wright et al. (2021) stated that efficient supply chain management helps in minimising costs that are relevant to the sourcing of services and goods developing a powerful relationship with different suppliers are using just-in-time inventory approaches the industry can increase their cost savings

Energy costs:

Hospitality organisations can be energy intensive quit adopting energy-efficient technology such as smart thermostats flow water fixtures and LED lighting It can reduce their consumption of energy as well as cost.

Importance of accurate recording of transactions

Good accounting records help in identifying get records of assets, income, expenses, liabilities and income by the business. It helps in motivating the business in an effective leading process that helps in acknowledging the strength and weaknesses of the business that help in generating revenue. The effective financial condition helps in providing real-time data for best practice data and it provides innovative ideas to tackle the drawbacks of the business. It helps in acknowledging business loss or profit in the business by preparing a financial data sheet. It helps in monitoring the business, identifying the source of income and helps in keeping track of deductible expenses (Irs.gov, 2023). It also helps in maintaining the business in an effective manner by keeping track of the property. The tax return is also managed by an accurate recording of the finance business.

Conclusion and recommendation

The finance of the hospitality business is one of the major aspects of the hospitality industry. It helps in keeping a track of the various business debit and credit (transactions). Trail balance is one of the basic and most important aspects that need to be maintained for balancing the finance of the industry. The management of various aspects needs to be done in an effective manner that includes the reduction of extra expenses. The expenses of the industry need to be analysed in an effective manner and various innovative methods must be provided for the reduction of finance. The various methods that can be taken into concern that includes income cost and managing the revenue by the arrangement of the tax collection process. For saving the extra expenses electricity of the industry should be managed and the employee's salaries should be maintained.

Activity 2: Part B

Different stages of the HR life cycle

Human resource has six major stages of the life cycle and plays an important role in the management of every organisation. The six stages of human resources include attraction, recruitment, onboarding, development, retention and separation. The first aspect is attracting the candidates to work for the organisation and then selecting the candidates and then management of the theft in the hospitality industry. The major aspect of human resources is to train the employees in an effective manner so that they can manage every typical situation. Downsizing of the employees is also some of the major factors that need to be improved so as can develop a better working culture in the organisation (Crane and Hartwell, 2019). The retention of employees is also maintained by human resources. The retired or the non-performer after sufficient training are retained with effective facilities provided to them accordingly.

Evaluation of HR life cycle and impact of HR

HR plays an important role in the development of the organisation that helps in maintaining an effective environment in the workplace. The role of HR in the terms of employee development includes taking interviews and examining the employee's legal reasons for leaving the organisation. The next aspect is the hiring of the right candidate for the progress of the organisation and the motivation of the employees so that they give effective support in the progress of the organisation (Claus, 2019). The reward is also provided by the human resource that helps in managing and motivating the employees for the development of the organisation and self.

Performance management plan

Reason	Goals	Action	Assessment criteria
customer complains about the employees	customer service improvement plan	training of the employees	Rating of the customer satisfaction
unsatisfactory work quality	meeting deadlines and minimising the number of errors	monitoring of the employee's performance	Sheet of work quality
Inappropriate workplace	Elimination the subordinates	communication training of the employees	Receiving feedback from customers

Table 2: performance management plan

These major aspects must be put into concern for developing an effective plan as well as implementing the techniques for the development of the organisation. The reasons and goals are ot be analysed and then action is to be taken the maintaining effective progress in the organisation. The assessment criteria are an effective performance measurement technique that needs to be used for the management of the employees.

Judgments and recommendations

Human resource plays an important role in the management of the employees that helps in the proper service of the customers. For maintaining, the diversity of the business human resource plays an important role in the development of customers and the organisation. An effective communication process needs to be implemented for the development of effective engagement of the employees. The training process increases the efficiency of employees and so training is a must further examination is also one of the major aspects of the business. Minimising errors during the work process includes various training processes. Retention of employees will cost more for an organisation so the employees should be trained rather than new recruitment.

LO3: Potential impact of legal and ethical considerations

Legislations of hospitality organizations

The hospitality industry requires continuing with effective legal and ethical standards in the business to maintain loyalty and transparency in the organisation. The important ethics of the hospitality industry considers three factors such as integrity, respect and trustworthiness. The transaction process also considers legal and ethical guidelines to maintain a transparent process to develop trust factor in between businesses and customers. According to Farmaki et al. (2022), peer-to-peer sharing processes are a popular strategy in the accommodation sector and this process engages online platforms to develop opportunities for people to share their property in the short-term rental business. This engages in developing the financial activity of both organisations and people through earning rental price shares from this business. For example, Airbnb considers this strategy in their business process since 2008 and continues developing the business market by focusing on socio-economic development in the business process. The P2P transaction process needs to convey moral identity to have a legal and transparent process of transaction in the business process.

Whereas Yorkulov et al. (2022) Information and communication technology (ICTs) engages in the transformation business process of travel, leisure and hospitality business. As per the world travel and tourism council (WTTC, 2021), data shows that 10.3% of jobs and US$9.6 million in global GDP captures through the travel and hospitality industry before the Covid-19 pandemic. However, the pandemic delivered a large disadvantage for this business as the movement of people got decrement and the government considered restricting or limitation in the travel process. This barrier impacted business revenue and the supply chain process. Therefore, to continue the hospitality business global organisation enters into understanding and implementing ICT in the business process to develop the communication process of the organisation. Managers focus on this tool to continue with effective management processes and maintain transaction costs through this technology.

Whitbread included a competitor concept d travel inn and transformation occurred in this through including a new brand premier inn in 2007 as the business included premier lodge for more than 500 million Euro and developed 130 more hotels in the business process. The pricing strategy considers a fixed price strategy to maintain business legal and ethical guidelines. This pricing strategy focuses on maintaining development in RevPAR by engaging in a dynamic pricing process. In addition, digitalisation is also included in this business process as premier inn considers mobile applications and online booking systems. A mobile application d "My Premier Account facility" to develop business revenue through the online booking process and transparent transaction and recording process (Dev, 2023). In addition, the legal and ethical standard also includes hygienic parameters as this business considers "Premier Inn CleanProject" to maintain the hygienic property through continuing regular cleaning processes in the hotel rooms of this business.

Impact of employment activity and contract law on decision making

Employment activity and contract law is a required application in the hospitality business to maintain a smooth conflict-less and transparent process. According to Junyu (2020), a contract considers an agreement between two parties and this contract maintains the relationship and validity of the business process. A valid contract can be verbal and written communication and includes a list of elements in this agreement. A valid contract can deliver in maintaining legality, offer, consideration, acceptance and capacity. Legality considers price range, age restriction, code of conduct and legal consideration in the hospitality business. Offer includes legally enforceable contracts through maintaining a specific list of terms and confirmation can be included in this process. Consideration involves maintaining legal value, payment and promise factors in it and influencing transparency in the transaction process. Acceptance is another step of the contract that mentions the legal offer and acceptance of both parties in the contract and this process focuses on mitigating misunderstanding issues in the business process. In addition, capacity includes agreement and promises through maintaining minimum age criteria and legal acceptance in the contract.

Whereas Jones and Comfort (2021) include that the hospitality industry in the UK considers modern slavery law and includes a list of legal parameters in this law to decrease issues in financial processes, employment activity and annual statements and business activity. "Modern slavery act 2015" includes a zero-tolerance approach to human trafficking and slavery to develop the supply chain process of the organisation. For example, Whitbread faces issues in employment, guests and supply chain process and this company focuses on direct employment activity to reduce modern slavery risk and supply chain issues in the business process. This organisation includes a training process to increase employee skills to develop a business process in the hospitality industry.

Potential implications of the regulations on standards

The implication of regulatory standards such as economic and social can contribute to the development process. Economic regulations can deliver outcomes in terms of the development of education level, income levels, employment engagement and opportunity levels. Social regulation focuses on developing environmental factors, and health factors, maintaining restrictions on advertisement and labelling and safety regulations in the business process. Whitbread includes property development, brand, inventory distribution, and hotel operation in its business to maintain economic regulations. Premier Inn considers control and fund development, balanced freehold, end-to-end encryption and online marketing process to continue with economic regulations in the business process (Whitbread.co.uk, 2023). Whitbread considers net zero carbon emission by 2040 to achieve sustainability in the business process. This approach already completed a 50.1% decrement in carbon emissions and included solar panel set up in 20% of hotels and continued with 100% renewable electricity contracts in UK-based own business sites of this organisation (Whitbread.co.uk, 2023). This also focuses on achieving 100% waste management in business to continue with social regulation in the business process.

Impact of ethical issues of regulations, legislations and principles and recommendation

Ethical issues can deliver a large negative impact on business performance as this can decrease loyalty, brand value, trust and popularity of the organisation. For example, Whitbread faces issues of the downturn in terms of demand for hotel rooms and economic and political uncertainty delivering issues for business processes and leisure travel in the organisation. Labour shortage is another issue for the premier inn and this impacted supply chain issues. The UK hospitality industry faces issues of inflation soaring as a 9.4% rise occurs in fuel price and this impact on price factor of the hospitality industry (Theguardian.com, 2023). Therefore, hospitality organisation needs to implement integrity. Trustworthiness and accountability contribute to continuing with effective economic and social regulations in the business process.

Conclusion

Financial management is a needed activity to maintain a transparent financial process and HR management can develop the legal and ethical factors of the business. This assignment includes an analysis of the financial process, HR practices of legal and ethical aspects and communication process to develop standards for the business. In addition, this assignment wants to deliver future scope for further development of this research.

Presentation

Introduction

• Whitbread is a UK-based multinational hospitality organisation (Whitbread.co.uk, 2023).
• This includes the Premier Inn brand in the business.
• This is the largest hotel brand in the UK.

SN: Whitbread is a UK-based multinational hospitality organisation and includes the Premier Inn brand in the business. This is the largest hotel brand in the UK.

Different functional roles within the hospitality sector

• Whitbread generates large capital returns for shareholders for more than 15 years (Whitbread.co.uk, 2023).
• Housekeeping department
• Food production (kitchen) department
• Food and beverage service department
• Front office department
• Marketing department
• HR department
• Accounting & finance department
• Purchase department

SN: Based on different resources it is evident that there are several departments working in any hospitality sector. The major interrelated departments of any organization are the housekeeping departmentfood and beverage service department food production department management marketing department human resource management finance and accounting department sales and purchasing department. These groups also work in a synchronized process that helps the organization gain the trust of the customers and create opportunities for the employees to understand customer requirements. All these groups and departments work in different accents but they use several communication tools that are helpful in maintaining the communication process effectively.

Interrelate functional roles using an organisation chart

• Whitbread includes three parameters such as opportunity, community and responsibility (Whitbread.co.uk, 2023).
• Opportunity includes learning, development, and diversity and inclusion team.
• HR teams in the community and the finance team include in the responsibility team.

SN: Whitbread includes opportunity, community, responsibility, learning, development, and diversity and inclusion team in opportunity. HR teams and finance teams include community and responsibility teams respectively.

Different communication methods used in the organisation

• Formal and informal communication
• Directional communication
• Internal and external communication
• Oral and written communication

SN: In every organization there are several communication styles and methods have been followed. According to different organizational reports the major method of any organization is to maintain formal and informal communication, This communication distinguishes the difference between understanding and evaluating the process of communicating with colleagues and hierarchy with formal language. Directional communication is mainly used by management teams to understand the customer and employee requirements and make them create their own pathways. Other than that internal and external communication are used for understanding the business process and the most common and useful languages are the written and oral communication that are used frequently in any sector of our community.

Levels used in the organisation

• Administrative and managerial are top management levels in the organisation (Whitbread.co.uk, 2023).
• Executive in the middle level and supervisors and employees in the lower level of management.
• Whitbread includes three different parameters as opportunity, community and responsibility to allocate stakeholders in the respective organisational levels in these parameters.

SN: Administrative and managerial, executive, supervisors and employees include top, middle and lower management levels. Whitbread segmented the organisational level into opportunity, community and responsibility parameters.

A review of Coordination and Integration within a business organisation

• It helps in building employee morale
• Organizational communication develops employee efficiency
• It can increase the productivity
• It can create a better relationship among the team members (Campaignlive.co.uk, 2023).

SN: According to different resources it is understandable the communication in every organization has its own impact on the organisational culture and environment. Based on the previous resources it can be said that internal communication can help in developing employee morale and motivation help in developing the employee efficiency and increase the productivity of the organization. Other than that it is directly or indirectly in maintaining the financial stability of the organization and creating better relationships with the team members and other colleagues that are capable of creating a communication bridge for organizing the management system and maintaining a better work culture.

Effectiveness of different communication methods

• Common Goals and Values Definition
• Understanding clear roles and responsibilities
• Use of effective communication tools and channels
• Promoting collaboration and innovation
• Understanding the process of achieving success and understanding the importance of failures

SN: In hospitality management, it is necessary tounderstand that communication and coordination is an essential parts that can deliver expectational service to the customers and maintain the organisational culture. There are several steps that can manage the communication process more effectively. It is necessary for the people working in a hospitality management organisation to understand that they are serving a common value or goal and it is necessary for them to understand their roles and responsibilities more properly. Other than that there are several communication tools and channels with communication styles that are important for the organization to maintain. It is necessary for the organization to promote collaboration and innovation process

Effectiveness of different integration and monitoring

• Application-based integration process delivers support in strategic development activity.
• Broadcast integration patterns involve market expansion and the advertisement process.
• The financial monitoring process delivers effective support in continuing the transparent financial process.

SN: Strategic development, market expansion, advertisement, and financial activity can be completed through application-based, broadcast integration patterns and financial monitoring processes respectively.

Impact of communication in achieving overall organisational objectives and strengthening the value chain

• Digital communication process through email and social media can continue a step-wise supply chain process.
• Effective communication process contributes to the development of employee morale, productivity, engagement and satisfaction.

SN: Email and social media engagement in the digital communication process and employee morale and satisfaction engage in the effective communication process. Problem-solving and decision-making processes can be enhanced through an effective communication process.

Impact of integration and monitoring in achieving overall organisational objectives and strengthening the value chain

• Integration and monitoring of Premier Inn consider innovativeness and strategic growth to develop competitive advantages.
• Profit recovery attractive roce engages in delivering support to achieve a long-term advantage in the business process (Whitbread.co.uk, 2023).

SN: Innovativeness and strategic growth develop competitive advantages of Premier Inn and profit recovery attractive roce engages in long-term advantage.

Communication in supply chain process

• Problem-solving and decision-making processes can effectively maintain through an effective communication process.
• Efficiency operating structures engage in developing efficiency to continue with effective supply chain processes.

SN: Problem-solving and decision-making processes can effectively maintain through an effective communication process. Efficiency operating structures engage in developing efficiency to continue with effective supply chain processes.

Technology support in communication, integration and monitoring process

• Email, website and social media engage in completing the communication process.
• Information and communication technology (ICTs) includes communication development (Yorkulov et al. 2022).
• Analytics platforms can be used in integrating and monitoring processes.

SN: Email, website and social media are digital communication processes. ICT engages in developing the effectiveness of the communication process.

Judgment and recommendation on coordination

• Prioritising training can be included in the development of the coordination process.
• Communication technology and design update of hotel rooms need to continue to develop coordination.
• The inclusion of ESG report in the business process of Whitbread develops business targets (Whitbread.co.uk, 2023.

SN: Prioritising training can develop coordination processes, communication and design technology in enhancing the coordination process.

Judgment and recommendation on integration

• Whitbread engages in launching a new integrated campaign to develop consistency.
• CSA sustainability concept of Whitbread contributes to the development of social, economic and environmental parts of the business.
• Application programming interface (API) can develop communication and functional supply chain process of the organisation (Whitbread.co.uk, 2023.

SN: CSA sustainability and API engage in the development of the 3Ps and the communication and supply chain process of the organisation.

Recommendation

• Creating opportunities for the employees
• developing communication system
• Taking feedback and impressions from people (Yorkulov et al. 2022).
• Organise team meetings

SN: Based on the organizational structure the management team can create different techniques and strategies for maintaining and evaluating the communication process of employees in any organization. Therefore the organization need to develop different opportunities and create different campaigns for understanding employee and their communication style. Other than that the organization need to create a communication system for taking feedback and valuable understanding from the employees. Other than that the organization need to create different team meetings that involve the employees and value them for their understanding and support.

Conclusion

• The vertically integrated model engages in developing inventory distribution, brand value and competitive advantage for the business process Whitbread (Whitbread.co.uk, 2023).
• Outsourcing in the modern slavery process in the supply chain can develop business sales, maintenance, and technology and communication process of the organisation (Jones and Comfort, 2021).
• Customer support processes through online and digital modes can deliver effective support continuing the decision-making process in the organisation.

SN: The vertically integrated model engages in developing inventory distribution, brand value and competitive advantage and Outsourcing in the modern slavery process in the supply chain can develop business sales, maintenance, technology and communication process of the organisation.

Reference list

Activity 1 A

LO1

Books

Brigham, E.F. and Houston, J.F., 2021. Fundamentals of financial management: Concise. Cengage Learning.

Journals

Alrawabdeh, W., 2021. Seasonal balancing of revenue and demand in hotel industry: the case of Dubai City. Journal of Revenue and Pricing Management, pp.1-14.

Calinaud, V., Kokkranikal, J. and Gebbels, M., 2021. Career advancement for women in the British hospitality industry: The enabling factors. Work, Employment and Society, 35(4), pp.677-695.

CORE, I., 2019. UNIT-1Financial Accounting. MBA TOURISM, p.15. Doi: https://motherteresawomenuniv.ac.in/syllabus%202021-22/pg/MBA%20Tourism.pdf#page=15

del Vecchio, P., Malandugno, C., Passiante, G. and Sakka, G., 2021. Circular economy business model for smart tourism: the case of Ecobnb. EuroMed Journal of Business. Doi: https://sb.ecobnb.net/app/uploads/sites/2/2021/03/Paper_published.pdf

Djajasinga, N.D., Sulastri, L., Sudirman, A., Sari, A.L. and Rihardi, E.L., 2021, June. Practices in Human Resources and Employee Turnover in the Hospitality Industry. In 2nd Annual Conference on blended learning, educational technology and Innovation (ACBLETI 2020) (pp. 113-117). Atlantis Press.

Ivanov, S. and Webster, C., 2019. Economic fundamentals of the use of robots, artificial intelligence, and service automation in travel, tourism, and hospitality. In Robots, artificial intelligence, and service automation in travel, tourism and hospitality (pp. 39-55). Emerald Publishing limited.

Murri, M.B., Triolo, F., Coni, A., Tacconi, C., Nerozzi, E., Escelsior, A., Respino, M., Neviani, F., Bertolotti, M., Bertakis, K. and Chiari, L., 2020. Instrumental assessment of balance and gait in depression: a systematic review. Psychiatry research, 284, p.112687. Doi: https://www.sciencedirect.com/science/article/pii/S0165178119314507

Suryaningrum, D.H., 2019. Power and Knowledge of Double Entry Bookkeeping System in the Feminism Framework: A Proposal. Sustainable Business Accounting and Management Review (SBAMR), 1(1). doi: https://www.academia.edu/download/76247020/13.pdf

Wright, C.F., Knox, A. and Constantin, A., 2021. Using or abusing? Scrutinising employer demand for temporary sponsored skilled migrants in the Australian hospitality industry. Economic and Industrial Democracy, 42(4), pp.937-959.

Part B

Journals

Claus, L., 2019. HR disruption—Time already to reinvent talent management. BRQ Business Research Quarterly, 22(3), pp.207-215. Doi: https://journals.sagepub.com/doi/pdf/10.1016/j.brq.2019.04.002

Crane, B. and Hartwell, C.J., 2019. Global talent management: A life cycle view of the interaction between human and social capital. Journal of World Business, 54(2), pp.82-92. Doi: https://www.sciencedirect.com/science/article/pii/S1090951618301548

LO3

Books

Journals

Dev, C.S., 2023. the International Centre for Hotel and Resort Management at the University of West London. https://www.researchgate.net/profile/Francis-Buttle/publication/290448158_Hospitality_Marketing_Principles_and_Practices/links/63ae174bc3c99660ebb38331/Hospitality-Marketing-Principles-and-Practices.pdf

Farmaki, A., Stergiou, D. and Kaniadakis, A., 2022. Self-perceptions of Airbnb hosts’ responsibility: a moral identity perspective. Journal of Sustainable Tourism, 30(5), pp.983-1003. https://bura.brunel.ac.uk/bitstream/2438/21802/4/FullText.pdf

Jones, P. and Comfort, D., 2021. Modern Slavery Statements and Leading UK Hotel Companies. Athens Journal of Tourism, 8(3), pp.147-162. https://eprints.glos.ac.uk/10100/1/10100-Jones-%282021%29-Modern-Slavery-Statements-and-Leading-UK-Hotel-Companines.pdf

Junyu, M., 2020. HOSPITALITY INDUSTRY, A CONTRACT IS AN AGREEMENT OR PROMISE. Jurnal Pembaharuan Hukum, 7(1), pp.75-84. http://jurnal.unissula.ac.id/index.php/PH/article/download/11181/pdf

Yorkulov, M., Marjona, T. and Zarrina, B., 2022. USAGE OF ICT FOR HOSPITALITY INDUSTRY OF UZBEKISTAN: ANALYSIS AND SUGGESTIONS. British View, 7(2). https://www.britishview.co.uk/index.php/bv/article/download/106/92

Reference

Books

Journals

Hotel, J.M., 1994. Revenue Management. COMMUTER WORLD. https://aafm.us/course_materials/14-15%20Oct%2008_IQPC_Brett%20King_FINAL%20Revenue%20Management%20Summit%20brochure.pdf

Junyu, M., 2020. HOSPITALITY INDUSTRY, A CONTRACT IS AN AGREEMENT OR PROMISE. Jurnal Pembaharuan Hukum, 7(1), pp.75-84. http://jurnal.unissula.ac.id/index.php/PH/article/download/11181/pdf

Jones, P. and Comfort, D., 2021. Modern Slavery Statements and Leading UK Hotel Companies. Athens Journal of Tourism, 8(3), pp.147-162. https://eprints.glos.ac.uk/10100/1/10100-Jones-%282021%29-Modern-Slavery-Statements-and-Leading-UK-Hotel-Companines.pdf

Yorkulov, M., Marjona, T. and Zarrina, B., 2022. USAGE OF ICT FOR HOSPITALITY INDUSTRY OF UZBEKISTAN: ANALYSIS AND SUGGESTIONS. British View, 7(2). https://www.britishview.co.uk/index.php/bv/article/download/106/92