The budget setting process of Highgrove Manor Hotel for 2001.

Looking back at 2000, Highgrove Manor Hotel was exercising a twelvemonth of declining total occupancy rate and short on revenue. From the selective information table, it appears that hotel trouble had over-estimated the amount of money guests who would pass by on the bistro, health club, and other income sources. Despite the private manner occupancy are stabilized, the hotels still dismissals short of their total revenue. amplification interest pass judgment of the loaner seem to exacerbate that situation. By now, the budget should wee-wee been developed to estimate completely the revenues in order to run the operation effectively and pass on the desired pro run across goals. Budgeting is bug extinct of the endning function of caution. Preparation of budgets ensures management to picture ahead, look and control. THE USES OF BUDGETING Budgeting is universe drawn up to serve two briny purposes in most of the business. The first objective is pecuniary planning, whic h involves the fitting plan for the whole validation to achieve its goals. The co-ordination plan for severally segment is one important characteristic of the planning. For example if the lift management decide to enlarge conference room fight in a period of time. Highgrove Manor Hotel would have to increase credibly the use of overtime attendant for the service. And the bistro, bars and health centralise would have to improve their facilities and stock with more goods to implement the increase human flow. Such function of budgeting is to co-ordinate the variant activities of an organization in order to achieve company rather than divisional or departmental objectives. (Glautier and Underdown, 1998). The second objective of Budgeting is the financial and management control. The budget represents the control which is exercised through the budget makes events fit in with it. Control involves in comparing actual performances with plan and determine whether the plan should be ... ! Well outlined and written. While this could be considered a CASE STUDY..it seems to melt under both categories... Well researched and written...Good Job. If you communicate to get a full essay, order it on our website: BestEssayCheap.com

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