Copthorne Hotel †Department Analysis Essay -- Business and Management

Copthorne Hotel Department AnalysisFinanceThe finance incision at the Copthorne Hotel is extremely importantto the running of the hotel. Some of the finance trading operations atomic number 18carried out within the hotel and some are centr whollyy carried out. For physical exertion Overall accounts, balance sheets for the whole company,Annual reports and break even compendium area all carried out centrally.These are all done centrally to reduce the amount of pres true on theindividual hotels and to make sure that they have al the informationsorted instead of waiting or the individual hotels to send all of theinformation to the central office. Here are a few more jobs that arecarried out centrally.- Compilation of the fiscal section of the annual report- Obtaining capital and resources for bulk purchases for all of the hotels regionally- Identifying start up costs- Identifying running costs- Preparing business plans if hotels take aim to borrow money- Paying salaries of the man agement teamThe finance section within the hotel carries out the simple jobslike paying(a) invoices, preparing guest accounts and paying wages forstaff (casual staff etc). Here are a few more jobs that the financesurgical incision within the hotel has to handle- Purchasing orders- monitor expenditure (gas, electricity etc) to make sure the hotel stays within its computeEach finance department (centrally and locally) has 5 main jobs. Theyare as follows Finance Manager, Cost Controller, Accounts Clerk,Salaries Clerk and several Accounts staff who monitor all of the otherdepartments to make sure they do not go eachplace their budget. The financedepartment would not be adequate to(p) to operate right on without the requiredstaff and each person is equally important.How Finance helps the Copthorne to see its aims and objectivesThe finance department is one of the most important departments in thehotel. The finance department manages all of the money that comes inand goes out of t he hotel, so without the money that the financedepartment gives them, many departments would not be able to operateproperly.At the beginning of the business year, the finance department wane abudget for each department in the hotel. For example, the valet de chambreResources department would be given a 2,000 budget for all of thebusiness year. The Human Resources ac... ...k together efficiently then Aims & Objectives givebe met- Finance & electric pig All of the other departments drive in noticesand information about budgets, ASAP.- Finance & intersection All of the other departments know when theirbudgets will be received as Marketing may print notices or posters.The finance department will also know how much custom is being madefrom the publicise posters etc.- Finance & Sales The finance department will know what is beingspent, hat money is being brought in from sales of merchandise etc.- Marketing & Administration If the Administration team work cloggyand keep the st aff happy, the marketing department wont have to failhotel as much.Changes I think could be made- The first affaire I would add is a multi-department meeting at the endof every week. This would allow the departments to analyse the weeksperformance to see if they could emend anything within the hotel.-I would try and allocate certain days/weeks for certain people. For prototype a week special for families. This would bring in extra money,or a week for couples. This would make a boost to profits as it wouldbe a one off special.