Copthorne Hotel †Department Analysis Essay -- Business and Management

Copthorne Hotel Department AnalysisFinanceThe finance department at the Copthorne Hotel is extremely importantto the running of the hotel. Some of the finance operations arecarried out within the hotel and some are centrally carried out. Forexample Overall accounts, fit sheets for the whole company,Annual reports and break even analysis area all carried out centrally.These are all done centrally to reduce the amount of obligate on theindividual hotels and to defend sure t palpebra they have al the readingsorted instead of waiting or the individual hotels to send all of theinformation to the central office. Here are a a couple of(prenominal) more jobs that arecarried out centrally.- Compilation of the Financial section of the annual report- Obtaining capital and resources for volume purchases for all of the hotels regionally- Identifying start up costs- Identifying running costs- Preparing phone line plans if hotels need to borrow money- Paying salaries of the management team The finance department within the hotel carries out the simple jobslike paying invoices, preparing guest accounts and paying wages forstaff (casual staff etc). Here are a few more jobs that the financedepartment within the hotel has to handle- Purchasing orders- Monitoring expenditure (gas, electricity etc) to make sure the hotel stays within its budget distributively 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 over their budget. The financedepartment would not be able to operate properly without the requiredstaff and separately person is equally important.How Finance helps the Copthorne to meet 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 the 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 set abudget for each department in the hotel. For example, the HumanResources department would be given a 2,000 budget for all of thebusiness year. The Human Resources ac... ...k together efficiently then Aims & Objectives willbe met- Finance & Administration All of the other departments know noticesand information about budgets, ASAP.- Finance & selling All of the other departments know when theirbudgets will be received as Marketing may print notices or posters.The finance department will to a fault know how much custom is being madefrom the advertising 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 hardand keep the staff happy, the marketing department won t have to sellhotel as much.Changes I think could be made- The first thing I would add is a multi-department meet at the endof every week. This would allow the departments to analyse the weeksperformance to see if they could improve anything within the hotel.-I would try and allocate certain old age/weeks for certain people. ForExample a week special for families. This would bring in extra money,or a week for couples. This would make a boost to remuneration as it wouldbe a one off special.