Hospitality Assignment Help: Case of Winter Garden

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Part A: Managing Finance and Recording Transactions (LO1)

Introduction to Financial Transactions

Financial competence is central to the achievements of business objectives and sustainability in the hospitality industry. The Winter Garden Suites being a hospitality business, it is imperative that there is a good management of its financial aspect for the proper and smooth running of the business especially in relation to spending and income that is experienced periodically. Know how to identify its revenues during festive seasons, controls operating costs, and can sustain cash flows during low seasons are critical factors to consider when running a resort (Rodgers et al., 2022). The source documents through which various financial transactions at The Winter Garden Suites are documented include invoices and receipts, sales orders and purchase orders. These documents act as the basis for keeping financial records that are important in the running of the business operations. It is extracted from these documents and posted into the journals and ledgers in order to form a trial balance and financial statements. When it operates the cycle systematically, The Winter Garden Suites ensures it comes up with accurate recording and reporting of all transactions.

The Double-Entry Bookkeeping System

The double entry book-keeping system is an important pillar of book-keeping whereby each entry is posted in two or more accounts as a debit and a credit (Cayrat and Boxall, 2023). The Winter Garden Suites uses this system for accounting to ensure they achieve a balance of their books. It is advantageous in maintaining the accounting equation; Assets = Liabilities + Equity. This is important when searching for errors and omissions in the prepared financial records. This provides a clear picture of the resort since all the aspects of financial transactions are recorded by the double-entry system.

Table 1 Sample entries

Trial Balance: Purpose and Sample Data

Trial balance is a report that helps to check the equality of debits and credits total in the accounts. This means that trial balance is prepared to ensure that there are no mistakes in the accounting records at the end of the accounting period. At The Winter Garden Suites, the accounts are always balanced several times with the preparation of trial balance that assists in checking the totals of the general ledger (Seeling et al., 2022).

The trial balance for the period would consist of the debit balance as well as the credit balance for all account concerned. Thus, trial balance confirms that total of all the debits equals that of the credits hence; If total debits = total credits. If such issues are detected, it would be pertinent to conduct a research to check for mistakes and fix them.

Cost Management and Profit Margin Calculation

The cost control plays a significant role in determining the organizational success of the industries involved in the hospitality sector. In the course of its operation, all expenses that The Winter Garden Suites incur could be classified into fixed and variable expenses. Some of the costs for an hotel like building rental, and staff wages do not change even if the hotel is fully booked or empty, but expenses like cleaning, light and other consumables depend on the number of guest. For example, total variable costs are high during the time of high guest occupancy as compared to the total fixed costs. It is therefore crucial to understand the costs and especially match them with the revenues so as to have the best return on the investments.

Importance of Accurate Transaction Recording

Transaction recording is important in as much as it helps in producing reports that depict the actual health of the business (Wang, 2024). The Winter Garden Suites is legal in ensuring that all the accounting practices used in the company are legal, standard, ethic, and efficient. It seems that all organisations require the use of accurate records for detection of any irregularities concerning financial details, compliance with the set rules, as well as formulating better business strategies and plans. For instance, failure in recording the sales or purchases may cause over or under-statement of revenue, which has an impact on compilation of the profit and tax. By entering all the transactions immediately and correctly, legal financial risks as well as any possible legal or financial risks can be prevented at The Winter Garden Suites.

Conclusion and Recommendations

Thus, it can be concluded that the appropriate fundamentals of financial management should be established in The Winter Garden Suites. In the case of the resort, by implementing the basic accounting principles that include recording of financial transactions, use of double-entry bookkeeping system, and record-keeping, the financial reports produced will be credible. Finally, maintaining an optimal control of the expenses incurred and the determination of profit margins assists in the enhancement of the sales revenues and thus the revenues control during different season of periods.

To enhance the keeping of better financial records more specifically in the company’s operational area, the following changes are suggested regarding;

• Improve the budgeting approach: They need to generate more accurate estimates of costs during business low and high seasons to manage resources adequately.
• Improve revenue control: This means adopting better means especially new tools and software in tracking of sales in order to enable the resort make necessary adjustments within a given market demand.
• Manage financial documents: It is important to frequently review and audit the financial records in order to check for compliance breakages.

LO2: Managing the Human Resources Lifecycle within the Context of HR Strategy

Overview of the HR Lifecycle

HR lifecycle means the journey an employee goes through in an organization for him to acquire the necessary resources for enhanced performance to leave the organization. With The Winter Garden Suites, it is essential to understand that lifecycle is an important factor in creating a workforce of motivated and adequately trained employees as well as to hold coherent functioning of the business (Okatta, et al, 2024). The human resources management processes are identified as the talent acquisition, entries and induction, personal and career development, appraisals and performance management, and staff retention.

Stages of the HR Lifecycle

Talent Acquisition: The Winter Garden Suites recruits skilled professionals for customer service, management, and food and beverage roles through online job postings, recruitment agencies, and employee referrals. In that way, HR makes sure that candidates possess right skills and are a good fit for the organization.

• Onboarding:In an organization this process involves orientation, skills development in the specific job required and introduction to the members in the organization or department. Good orientation minimizes turnover and increases employee satisfaction since everyone feels welcomed.
• Employee development: It is through training activities to improve performance enabling the leadership training, customer services, and technical skills training. This is a good way to advance in one’s career and at the same time boosts the standard of the services delivered in the organization (Eyo-Udo et al, 2024).
• Performance Management: Feedback in addition to conducting periodic appraisals as well as predetermined objectives and goals to determine how an employee is doing. These are used to determine who is deserving to be promoted, to receive an increment on their salaries, or to be recognized deserving of an award.
• Motivation:At the Winter Garden Suites, there are strategies that are used concerning remunerations and incentives through compensation, rewards and benefits, and training and development to foster employee retention. Weekly or fortnightly feedbacks from the employees give a chance to attend to their issues and enhance their morale.

HR’s Role in Supporting, Growing, and Retaining Talent

Human Resources are central to all stages of the lifecycle; during onboarding and orientation processes, ongoing supervision, training, development, promotions and transfers, and finally separation and termination (Ramli et al., 2024). During the recruitment process, it is responsible for determining the competency deficits of potential candidates, and in development, its objectives meet out all the needs in order to maintain the workforce in tact with the strategic goals of the resort. Policies that can be adopted by The Winter Garden Suites include career development opportunities, remunerations, good personnel practices and policies adding that it is crucial to retain human capital in order to deploy talented individuals who are qualified to deliver services that meet the expectations of customers.

Performance Management Plan

Thus, a performance management plan that could be useful for a job of Food and Beverage Supervisor may encompass the following elements:

• Aim: Managing guests and providing total satisfaction, cleaning standards and excellent orderliness as well as staff administration.
• Key Performance Indicators (KPIs):Customer feedback, employee performance, stock levels, and cost control.
• Feedback Mechanisms: The use of on-the-face-to-face and general appraisals to check on the performance.

Improvement Recommendations

Therefore, the following can be stated on how HR can enhance the HR lifecycle at The Winter Garden Suites:

• Optimise recruitment: Employ automated means to properly evaluate potential employees during recruitment.
• Know Your Needs:Provide more opportunities to attend training and development opportunities and cross-section workshops.
• Strengthen Retention Strategies: Promote higher career path plans for the staff members in order to improve on staff retention.

LO3: Legal and Ethical Considerations in a Hospitality Business

Relevant Legislation for Hospitality Organizations

• Protection of Employees: The UK Employment Rights Act 1996 is facilitative about the rights of an employee to fair treatment at the workplace, his/her right to protection against unfair dismissal and right to minimum wage. In regard to the laws covering the Labour relations at The Winter Garden Suites, it maintains organizational legal standards in that employees are treated fairly while the resort avoids possible lawsuits over its employees (Madanchian, 2024).
• Health and Safety Regulations:Every working place has to abide by the Health and Safety at Work Act 1974 so as to ensure that the employees will not be at a great risk when at work. They must ensure that staff and visitors of Winter Garden Suites are secure through training, evaluation of hazards and precaution measures.
• The laws related to consumers include: The consumer rights act 2015 that provides for consumers’ right in relation to the quality as well as the safety of services being offered.

Impact of Employment and Contract Law on Business Decisions

The employment laws affect several operations within The Winter Garden Suites in different ways as outlined below. For instance, the resort must only apply merit during the recruitment process, adhere to the legal requirements in contracts, and some of the legal rights include full payments especially to employees who require leave. There is also the legal aid to policies that relate to working hours, wage, and dismissal so as not to encounter legal repercussions or fines.

Ethical Issues in Hospitality

There are other social risks involved as well, including the unfair treatment of employees, discrimination, and the effects on the environment of the resort. Two major ethical concerns include:

• Employment Discrimination: One of the things that employers should avoid is discriminating employees based on their gender, colour, or sexual preference.
• Environmental concern: This is one of the ethics that concerns the resort in terms of waste disposal and the products that it uses in its operations.

Recommendations

In order to combat these ethical and legal issues, the following measures should be taken by The Winter Garden Suites: Ensure they update its employee training on legal and ethical aspects on a frequent basis. Indicates that all the employment policies meet legal requirements for employment contracts (Fomude et al., 2023). Introduce environmentally-friendly measures that will alleviate some environmental issues impacting the resort thus enhancing the ethical reputation of the resort to capture the green clients.

LO4: Coordination and Integration within a Hospitality Organization

Functional Roles within the Hospitality Sector

In a hospitality organization there are various functional departments that are there in charge of managing the business of The Winter Garden Suites. All departments are rather unique but at the same time all of them are of great importance to achieve the key goals of the resort. Because the resort is a new construction, the key departments within includes:

• Front Desk/Reservation: They provide check in and check out services to the guests as well as attend to any request from the guests during their stay at the facility.
• Sanitation: Makes sure that all accommodation units and the lobby areas together with other public spaces are clean, and meeting the standards to welcome the guests.
• Food and Beverage (F&B):Coordinates dining operations and bars and catering to guarantee that the clients enjoy quality food and beverages. Human resources management: Specialises in recruitment, training and the wellbeing of the employees, to warrant productivity among the workers (BalcıoÄŸlu and Artar, 2024).
• Finance: Involved in decisions regarding the financial management of the resort, budgeting, accountability on the organizational financial situation and the stability of the resort’s finances.

Communication Methods and Levels

They established that communication is an important factor that facilitates the integration of departments in organizations. This paper aims at establishing the extent and kinds of communication that occurs at The Winter Garden Suites together with the organizational levels involved. The primary communication channels include:

• Email and Digital Communication: For routine operational updates and administrative purposes.
• Weekly status: Organized weekly check-ups with the heads of departments to assess the activities of the staff and their views on the tasks.
• Intranet/Notice Boards: This feature is used with the aim of posting important information, new timetable, and announcements of different departments.

Coordination and Integration in Operations

Co- ordination among the various departments working in the resort is therefore important so that the resort can smoothly run. For instance, when a guest is checking in, the Front Office liaises with the Housekeeping department to ensure that the room of the guest is prepared, the F&B department prepares food services depending on the preference or the dietary needs of the guest. The effective coordination of activities and responsibilities can reduce time wastage, enable quality service delivery to the guests and yield a positive result. Another example is during KUR instance, that is, during the peak business periods whereby communication and integration between departments is marvellously important. For instance, the Housekeeping section must be well staffed and for this, the HR department will have to liaise with the Front Office. At the same time, it will involve coordination with the F&B department to manage expenses estimate the occupancy of guests.

Effectiveness of Communication and Integration

Coordination and collaboration between departments in The Winter Garden Suites are vital both in the delivery of guest services and in organisational performance. The arrangement of the resort and its divisions also helps in collaboration between the teams in order to promptly meet the demands of the guests. For instance, when a guest has a special request, such as additional items or a specific type of meal preference, then the request must be forwarded to both; the Housekeeping for room preparation and the Food and Beverage (F&B) for change of menu. To achieve this there must be quick flow of information to for the needs of the guest to be met as soon as possible (Li et al, 2022). Otherwise there are possibilities of either delay or simple misunderstanding, which in those areas relate to the guest experience. These functions also enable The Winter Garden Suites to give quick and accurate responses to other departments to meet the guests’ expectations. Also, communication between departments not only enhances customer satisfaction of the guests but also ensures the management of performance. The supply of regular communication leads to the assessment of the operations consistently and signifies possible improvements for managers to address. For example, if rooms are not ready on time or when meals are not served on time, it can be easily reported and there and then the necessary measures can be taken. There is also continuity in feedback loops so that when a solution is proposed it is adopted promptly, Integrated working is also supported by ensuring that all departments towards the common goal line.

Recommendations for Improved Coordination and Integration

In order to improve co-ordination and integration in The Winter Garden Suites the following should be done:

• Use of integrated software systems:Work with property management systems (PMS) where information from different departments is synchronized, and updated in real time, regarding status of the requests such as housekeeping services, and guest’s dietary preferences.
• Cross-Departmental Training:Offer cross-training possibilities for the employees so that they would be familiar with the duties of other departments.

CONCLUSION 

Therefore, if The Winter Garden Suites plans to excel financially and achieve higher productivity, it has to work on managing its financial resources, deploying acceptable and efficient human resource practices, remain legal and ethical compliant, and have effective cooperation and collaboration between departments. It is asserted that the enforced increase in financial control, the improvement of human resources development, and increased cooperation between departments would contribute to the growth of a resort’s revenues and the optimization of its management. All of the above shall push the performance of the organization to the next level as well as improve on the reputation and profitability of the organization in the competitive tenure of hospitality industry.

REFERENCES 

Books and Journals

Balcıoğlu, Y., and Artar, M. (2024). Artificial intelligence in employee recruitment. Global Business and Organizational Excellence. https://doi.org/10.1002/joe.22248.

Cayrat, C., and Boxall, P. (2023). The roles of the HR function: A systematic review of tensions, continuity and change. Human Resource Management Review. https://doi.org/10.1016/j.hrmr.2023.100984.

Esan, O., Ajayi, F., and Olawale, O. (2024). Managing global supply chain teams: human resource strategies for effective collaboration and performance. GSC Advanced Research and Reviews. https://doi.org/10.30574/gscarr.2024.19.2.0161.

Eyo-Udo, N., Odimarha, A., and Ejairu, E. (2024). Sustainable and ethical supply chain management: The role of HR in current practices and future directions. Magna Scientia Advanced Research and Reviews. https://doi.org/10.30574/msarr.2024.10.2.0058.

Fomude, A., Yang, C., Agordzo, G., Serwah, A., and Abangbila, L. (2023). AI Model to Improve HR Decision-Making with Machine Learning Predictions Algorithm. 2023 25th International Conference on Advanced Communication Technology (ICACT), 206-212. https://doi.org/10.23919/ICACT56868.2023.10079282.

Li, J., He, Z., and Wang, S. (2022). A survey of supply chain operation and finance with Fintech: Research framework and managerial insights. International Journal of Production Economics. https://doi.org/10.1016/j.ijpe.2022.108431.

Madanchian, M. (2024). From Recruitment to Retention: AI Tools for Human Resource Decision-Making. Applied Sciences. https://doi.org/10.3390/app142411750.

Okatta, C., Ajayi, F., and Olawale, O. (2024). NAVIGATING THE FUTURE: INTEGRATING AI AND MACHINE LEARNING IN HR PRACTICES FOR A DIGITAL WORKFORCE. Computer Science and IT Research Journal. https://doi.org/10.51594/csitrj.v5i4.1085

Ramli, R., Wida’atullah, M., Rahayu, Y., , R., and Ramly, A. (2024). Leadership and Decision-Making to Strengthen HR Competency in AI Emergence. Diversity: Jurnal Ilmiah Pascasarjana. https://doi.org/10.32832/djip-uika.v14i2.17024.

Rodgers, W., Murray, J., Stefanidis, A., Degbey, W., and Tarba, S. (2022). An artificial intelligence algorithmic approach to ethical decision-making in human resource management processes. Human Resource Management Review. https://doi.org/10.1016/j.hrmr.2022.100925.

Seeling, M., Kreuter, T., Scavarda, L., Thomé, A., and Hellingrath, B. (2022). The role of finance in the sales and operations planning process: a multiple case study. Bus. Process. Manag. J., 28, 23-39. https://doi.org/10.1108/bpmj-07-2021-0447.

Seeling, M., Kreuter, T., Scavarda, L., Thomé, A., and Hellingrath, B. (2022). The role of finance in the sales and operations planning process: a multiple case study. Bus. Process. Manag. J., 28, 23-39. https://doi.org/10.1108/bpmj-07-2021-0447.

Wang, A. (2024). Enhancing HR management through HRIS and data analytics. Applied and Computational Engineering. https://doi.org/10.54254/2755-2721/64/20241394.

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