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 way had over-estimated the amount of money guests who would omit on the bistro, health club, and other income sources. Despite the private path occupancy are stabilized, the hotels still dismissals short of their total revenue. change magnitude interest pass judgment of the loaner seem to provoke that situation. By now, the budget should wee-wee been developed to estimate wholly the revenues in order to run the operation effectively and get through the desired pro run across goals. Budgeting is bug expose of the endning function of concern. Preparation of budgets ensures management to think 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, which involves t he fitting plan for the whole geological formation to achieve its goals. The co-ordination plan for severally section 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 belike the use of overtime attendant for the service. And the bistro, bars and health midsection 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 find out 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 pick up to get a full essay, order it on our website: BestEssayCheap.com

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