Fortune Hotel
Fortune Hotel
Fortune Hotel
Prepared by
: Rathod Eshita K.
Class
: B.B.A. Semester - 4
Roll no
: 67
Submitted to
: Saurashtra University
Guided by
DECLARATION
I undersigned RATHOD ESHITA K. student of
B.B.A. semester-4. Here by declare that the project work
presented in this report my own work and has been carried out
under the supervision Prof. Krunal Purohit Of Lt. M. J.
Kundaliya English Medium Mahila Commerce & B.B.A
College, at Rajkot.
This work has not been previously submitted to any
other university for any examination.
Place : Rajkot
Signature of Student
Date :
( Rathod Eshita )
PREFACE
The word of management is used in many things in
every time. This word is used in a wide context in economy,
social political, business, and non-business areas. We need to
manage our daily life also B.B.A. course is the management
course and these apply in practically work. Saurashtra
University is given to us a chance of the practical study and
knowledge as one prepares a project report.
In the B.B.A. faculty only the theoretical knowledge
of business is not enough for achieving all over knowledge of
business management, practical training is also important as
almost all aspects of human life keeping this is mind, Saurashtra
university has include the subject of practical studies or
industrial training in B.B.A. of 15 days.
I had attended training at HOTEL FORTUNE
PARK JPS GRAND at Rajkot. It is well known 5 star hotel in
Rajkot. The report submitted here, which provide all
information that i have obtained my practical training at HOTEL
FORTUNE PARK JPS GRAND.
In this report, I have tries to present the minimum
information in the best possible manner as i can.
ACKNOWLEDFEMENT
I would like to acknowledge as well as convey
my regards to all who have been contribution a lot to finalize
this project by the way of proper guidance, encouragement and
inspiration to me.
First of all, I world like to thanks to
Saurashtra University and my college. I am very much pleased
to express any gratitude towards Principal Dr. A. C. RANA.
I am heartily thanks to Prof. Krunal Purohit
who greatly guided and inspired me for this project.
I heartily thank the owner of the industry for
enthusiastically supporting the project work by making the dare
available and spending their precious time to aid my study.
My gratitude towards HOTEL FORTUNE
PARK JPS GRAND founder Mr. Hiren Sodha. My sincere
thanked to the hotel assistant for his full co-operation and
previous guidance.
I am also very much thankful to my parents to
encourage me for this project and my brother and my friends
whose guided and motivated me for this project.
I also thank to god for my study and this
opportunity.
INDEX
SR NO
PARTICULARS
PAGE NO
GENERAL INFORMATION
FRONT OFFICE
26
SERVICE DEPARTMENT
40
62
MARKETING DEPARTMENT
99
FINANCE DEPARTMENT
114
129
CORPORATE SOCIAL
RESPONSIBILITY
VISION & MISSION
10
133
11
SWOT ANALYSIS
135
12
FUTURE PLAN
139
13
SUGGESTIONS
141
14
CONCLUSIONS
143
15
BIBLIOGRAPHY
145
16
WEBLIOGRAPHY
147
77
131
INDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
HISTORY
HOTEL PROFILE
11
ORGANISATION CHART
14
FORM OF ORGANISATION
15
ORGANISATION STRUCTURE
16
SIZE OF UNIT
17
CONNECTIVITY
19
LOCATION CHART
20
10
HOTEL BRANCHES
21
INTRODUCTION
A hotel is an establishment that provides lodging paid on
a short term basis. Facilities provided may range from a basic
bed and storage for clothing, to luxury features like en-suit
bathroom. Larger hotels may provide additional guest facilities
such as a swimming pool, business centre, childcare, conference
facilities and social function services, hotel rooms are usually
numbered to allow guests to identify their room. Some hotels
offer meals as part of a room and board arrangement. In the
united kingdom, a hotel is required by law to serve food and
drinks to all guests within certain stated hours. In japan, capsule
hotels provide a minimized amount of room space and shared
facilities.
Hotel operations very in size, function, and costs. Most
hotels and major hospitality companies have set industry
standards to classify hotel types. An upscale full service hotel
facility offers luxury amenities, full service accommodations, on
site full service restaurants, and the highest level of personalized
service. Full service hotels often contain upscale full service
facilities with a large volume of full service accommodation, on
site full service restaurants, and variety of on site amenities.
Boutique hotels are smaller independent non branded hotels that
often contain upscale facilities. Small to medium sized hotel
establishment offer a limited amount of on site amenities.
Economy hotels are small to medium sized hotel establishments
that offer basic accommodation with little to no services.
Extended stay hotels are small to medium sized hotels that offer
longer term full service accommodations compared to a
traditional hotel.
9
HISTORY
Every unit has got more some or other history
if its own. It includes when the firm was incorporated,
who were the promoters, what was its purpose, what are
the products manufactured by it, etc.
11
HOTEL PROFILE
NAME OF HOTEL
ESTAMLISHMENT
: 2015
: Private Ltd.
: Large Scale
ADDRESS
REGISTERD OFFICE
PHONE NUMBER
: 281-3988444
FAX NUMBER
: 281-3986000
: hr.fjps@fortunehotels.in
12
WEBSITE
: www.fortunrhotels.in
CUISINE
OWNER
CHAIRMAN
DIRECTORS
AASISTANCE G.M
CHEF MANAGER
H.R.MANAGER
FINANCE MANAGER
: Mr. Hardik
HOUSE KEEPING
COMPETETORS
: HOTEL TGB,
HOTEL BIZZ,
HOTEL IMPERIAL PALACE.
BANKERS
: 1. ICICI Bank
2. HDFC Bank
3. Corporation Bank
INVESTMENT
: 60 crore
AREA COVERED
: 2000sq. Feet
GOAL OF THE
ORGANIZATION
COMPANY LOGO
14
ORGANISATION CHART
G ER E
RAL
MAN
A G ER
M ANA
G IN G
D IR E C
TO R
R ESTA
URAN
T
M ANA
G ER
FR O
NT
O FF
IC E
EV E
NT
MAN
AGE
R
FIN A
NCE
MAN
A G ER
M ARK
ETIN G
M ANA
G ER
15
PE R S
ONAL
M AN
A G ER
FORM OF ORGANISATION
Forms of business organization are legal forms in
which a business enterprise may be organized and operated.
These forms of organization refer to aspects as
ownership, risk bearing, control and distribution of profit. The
choice will depend on various factors like the nature of business,
the objective, the capital required, the scale of operations, state
control and requirements.
The various forms of organization are.
1 Sole Proprietorship
2 Partnership
3 Joint Stock Company
(A) Public Limited Company
(B) Private Limited Company
4 Co-Operative Society
FORTUNE PARK JPS GRAND HOTEL IS
PRIVATE LIMITED HOTEL.
ORGANISATION STRUCTURE
16
SIZE OF UNIT
17
18
CONNECTIVITY
BY AIR
19
BY ROAD
The Gujarat state road Transport Corporation
(GSRTC) runs regular buses to and from Rajkot to other cities
of Gujarat. Rajkot is well connected with Gujarat state
Highways, National Highway 8 and the East-West Corridor.
There are a number of private bus operator connecting the city
Maharashtra, Rajasthan, Delhi, Madhya Pradesh and other states
of India.
5 km from shapar G.I.D.C. industrial area, the commercial zone
of the city.
6 km from Dharmendra road, the prime shopping destination
for traditional Gujrati Weaves and handicrafts.
LOCATION CHART
20
HOTEL BRANCHES
21
My Fortune,
Bengaluru
My Fortune,
Chennai
Fortune The Savoy,
Mussoorie
Fortune Select JP
Cosmos, Bengaluru
Fortune Select
Trinity, Bengaluru
Fortune Select
Grand, Chennai
Fortune Select
Palms, Chennai
Fortune Select
Regina, Goa
Fortune Select
Excalibur, Sohna
Road, Gurgaon
Fortune Select
Global, Gurgaon
10
11 Fortune Landmark,
Indore
12
Fortune Select
13
Metropolitan,
Jaipur
Fortune Select
Dasve, Lavasa
14
Fortune Select
Exotica, Navi
Mumbai
15
Fortune Select
Shilparamam, Tiruchanoor Road,
Grand Ridge,
Tirupati 517 501, Andhra Pradesh
Tiruoati
16 Fortune Landmark, Ashram Road, Ahmedabad 380 013,
Ahmedabad
Gujarat
17
Fortune Park,
Opposite Gujarat College, EII is
Ahmedabad
Bridge Ahmedabad 380 006,
Gujarat
18
Fortune Park JP
5/43, Race Course Road, Bengaluru
Celestial,
560 009, Karnataka
Bengaluru
19
Fortune Park
Plot No. Z/4/3, SEZ Part I, Tal: Vagra,
Dahej, Dahej SEZ
Dist: Bharuch, Dahej 392 130,
Gujrat
20
Fortune Park
K.M.Stone 67, National Highway-8,
Orange, Sidhrawali,
Sidhrawali, Gurgaon - 122 413,
Gurgaon
Haryana
21
Fortune Park
Plot No. 515 & 516, Road No. 12,
Vallabha,
Banjara Hils, Hyderabad 500 034
Hyderabad
Andhra Pradesh
22
23
24
25
26
27
28
29
30
Fortune Pandiyan
Race Course, Madurai 625 002
Hotel, Madural
Tamil Nadu
Fortune Park
Strawberry Hills, Satobari, Near Dal
Moksha, MCL eod
Lake, MCL eod Ganj, Dharamshla
Ganj
Cantt 176 216 Himachal Pradesh
Fortune Park Bella
Cityplex, 1, Ashram Marg, Tonk
Casa, Jaipur
Road, Jaipur 302 018, Rajasthan
Fortune Park
2, Inner Circle Road, Bistupur,
Centre Pount,
Jamshedpur 831 001, Jharkhand
Jamshedpur
Fortune Park
Kona Expressway, Howrah 711 403
Panchwati, Kolkata
West Bengal
Fortune JP Palace, No. 3, Abba Road, Nazarbad, Mysore
Mysore
570 007, Karnataka
Fortune Park
Dera More, Chhatapur Mandir Road,
Boulevard, New
New Delhi 110 074
Delhi
Fortune Park DJ
417, M.G.Road, Ghitomi, New Delhi
Avenue, New Delhi
110 030
31
32
Fortune Park
LakeCity, Thane
33
Fortune Kences,
Tirupati
34
Acron Waterfront
Resort, Baga, Goa
Fortune Resort
Grace, Mussoorie
35
24
36
37
38
Fortune Resort
Sullivan Court,
Ooty
Fortune Hotel The
South Park,
Trivandram
Fortune Park
Galaxy, Vapi
Fortune Murali
Park, Vijayawada
39
Visakhapatnam
26
27
28
INDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
28
ORGANISATION CHART
29
30
31
PROCESS OF ROOM
RESERVATION
TYPES OF ROOMS
ROOM AMENITIES
37
TARIFF
38
39
29
32
INTRODUCTION
Generally this office is known as Reception. The hotel
FORTUNE PARK JPS GRAND is known it as a Front Office.
Front office employee is directly contact with the customer. This
employee is also one kind of represented it firm. This works are
advance booking of room, present room booking, arrange birth
day party, marriage party, arrange meeting, conference in the
hall, sales the all types of room, i.e. Fortune Club King rooms,
Living rooms, Deluxe Twin rooms and Suit rooms. They carry
about they customer service; provide all service of the hotel to
its customer. Try to fulfil requirement of the customer.
30
ORGANISATION CHART
FRONT OFFICE
MANAGER
FRONT OFFICE
EXECUTIVE
GUEST RELATION
EXECUTIVE
FRONT OFFICE
SUPERVISOR
FRONT OFFICE
ASSISTENT
RECEPTIONI
ST
31
: Sales Calls
: Through Direct Contact,
By Mail,
By Telephone Contact,
By Indirect Contact.
Present Booking
Banquet Booking
: Direct Contact
Fortune Club King Room Booking : Through Direct Contact,
By Mail,
By Telephone.
Direct method
Generally this method is use to customer. In this method
customer is directly contact with the hotel to its front office. And
reserve the room in advance or for present.
Indirect method
Today, in world, people dont have time for go to hotel and
reservation the room, but person use today technology i.e.
mobile phone, internet. Customer reserve the room through on
call and e-mail.
In the room reservation, advance pay for new customer in,
some time customer pays its payment on check out time. But the
company office or regular customer is pay on its time.
TYPES OF ROOMS
33
ROOM
SUPERIOR
EXECUTIVE
SUITE
SINGLE
4000 Rs.
4500 Rs.
7000 Rs.
Room
34
Types :
DOUBLE
4500 Rs.
5500 Rs.
8000 Rs.
Suite
Room :
Living Room :
36
Deluxe
Room :
37
Deluxe
Twin Room :
ROOM AMENITIES
38
TARIFF
Inclusive in the tariff of Deluxe Room :
39
41
I
42
NDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
42
ORGANISATION CHART
43
WHAT IS SERVICE ?
44
MAIN SERVICE
45
46
PRESIDENTIAL SUITE
47
BOARD ROOM
49
THE LOBBY
50
RECEPTION
51
10
52
11
BANQUETING &
CONFERENCES
WEDDING & PARTY
12
CAKE SHOP
55
13
56
14
59
43
54
INTRODUCTION
Service has got different meaning or can be understood
in different ways.
Service means an action helping someone.
1 The action of working for someone.
2 A system supplying a public need.
3 Ready to assist someone when required.
From the above all meanings any meaning can be
considered or is applicable for the service company. But he
perfect meaning will be the combination of all the meaning.
Hotel industry is engaged in providing service and in
return takes monetary rewards in form of service charge,
providing better quality service is a major aim institute engaged
with hotel industry.
Services of FOTUNE PARK JPS GRAND hotel is
counted as its assets as the customers never return unsatisfied
form here. It might have some limitations due to external forces
but the hotel tries its level best to satisfy the customers. It is
because of the quality services provided by the hotel which
attracts people from middle class to higher upper to enjoy their
stay at FORTUNE PARK JPS GRAND hotel.
ORGANISATION CHART
44
DIRECTORS
ASSISTANT
MANAGER
ROOM SERVICE
MANAGER
SERVER
BEVERAGE
MANAGER
BAR PERSON
EXECUTIVE
MANAGER
COOK
CATERING
MANAGER
WAITERS
RESTAURANT
MANAGER
SERVERS
CHEF
WHAT IS SERVICE ?
45
MAIN SERVICE
46
PRESIDENTIAL SUITE
FORTUNE PARK JPS GRAND hotel is the most
luxurious among Rajkot hotels. It is equipped with all
48
49
BOARD ROOM
50
THE LOBBY
51
RECEPTION
52
54
CAKE SHOP
56
57
SPA :
58
GYM :
Head for steam or sauna for relaxing or work out in
the gymnasium.
SWIMMING POOL :
59
P
A
C
E
P
R
O
LM
O
T I
O
N
P
R
O
C
E S
S
P E
O
P L
E
P
R I
C
E
P
H
Y
S I
C
A
L
7 Ps of marketing :
PRODUCT :
61
C
PO
RN
O
S
D
UU
CM
TE
R
PEOPLE :
All companies are reliant on the people who run
them from front line sales staff to the managing director.
Having the right people is essential because they are as much
a part of your business offering as the products / services you
are offering.
Hotel FORTUNE PARK JPS GRAND considers
all these 7Ps for the marketing purpose.
63
INDEX
64
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
64
ORGANISATION CHART
65
TYPE OF FOOD
66
TYPES OF LUNCH
67
TYPES OF RESTAURANT
68
70
TABLE SERVICE
72
72
73
11
12
PURCHASE DETAILS
76
10
INTRODUCTION
65
74
75
ORGANISATION CHART
66
BANQUET
RESTAURANT
MANAGER
MANAGER
PURCHASE
MANAGER
STORE
KEEPER
CAPTAI
WORKER
STEWARD
TRAINE
RS
TYPE OF FOOD
67
Gujarati
Mexican
Thai
Italian
Chinese
Punjabi
Continental
South Indian
Fast food
68
TYPE OF LUNCH
The price is matter depending upon the person. It
defer from person to person. The price id depending on the basis
of food which person selects to eat?
The person select following lunch. They have to paid
amount. In this lunch, menu is fixing, food is unlimited.
Business lunch
Executive lunch
Special lunch
69
TYPES OF RESTAURANT
Dine n Wine
ORCHID :
Culinary delights & sumptuous buffets make this
multi-cuisine restaurant an ideal venue for an enjoyable lunch
or a relaxed dinner.
RAINBOW :
A memorable indulgence of delectable vegetarian
cuisine from around the world.
70
BUFFET :
4 Discount on Beverages :
20% discount on all alcoholic (IMFL) and non-alcoholic
beverages.
5 The discount is not applicable :
For catering or room service.
On imported beverages (Alcoholic or non-alcoholic)
TABLE SERVICE
73
74
75
STORAGE
76
PURCHASE DETAILS
77
Requirement
Food products
Crockery
Perishable items
Stationery products
Cleaning products
Fixed assets
Weekly
Yearly
Daily
Monthly
Yearly
As per requirement
78
79
INDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
79
ORGANISATION CHART
80
81
83
86
88
90
91
10
PERFORMANCE APPRAISAL
SYSTEM
GUEST PROBLEM HANDLING
11
TRADE UNION
93
12
NUMBER OF EMPLOYEES
94
13
95
14
96
15
PERSONNEL RECORDS
97
80
84
92
16
98
INTRODUCTION
Personnel department the department responsible
for hiring and training and placing employees and for setting
policies for personnel management. Personnel management can
be defined as obtaining, using and maintaining a satisfied
workforce. It is a significant part of management concerned with
employees at work and with their relationship with in the
organization. According to Flippo, Personnel management is
the planning, organizing, compensation, integration and
maintenance of people for the purpose of concerned to
organizational, individual and societal goals.
81
ORGANISATION CHART
H. R. MANAGER
VICE PRESIDENT
ASSISTANCE GENERAL
MANAGEMENT
OFFICER
RECRUITMENT OFFICER
TRAINING OFFICER
H & R EXECUTIVE
WORKERS
82
1. ENTERNAL SOURCE:
Promotion, Transfer, Relatives of employees etc
2. INTERNAL SOURCE:
Employee Recommendation, Advertisement,
Employment Exchange, Campus Interview.
Mainly three type of recruitment is there.
1. Permanent recruitment
2. Temporary recruitment
3. Apprenticeship
83
SELECTION :
4. Employment Interviews
2. Application Blanks
5. Medical Examination
3. Written Tests
6. Appointment Letter
84
85
86
DEVELOPMENT :
Development is a related process. It covers not only
those activities, which improve job performance, but also those
which bring about growth of the personality; help individuals in
the progress towards maturity and actualization of their potential
capacities so that they become not only good employees but
better men and women. In organizational terms, it is intended to
equipment persons to earn promotion and hold greater
responsibility. Training persons for higher and bigger job is
development.
87
88
TRANSFER :
Transfer refers to changes in jobs that involve little or
no change in status, responsibility and pay.
REASONS OF TRANSFER :
1. Shortage of staff in department
2. Elimination of boredom resulting from same work and place
3. To rectify an improper placement
4. To take advantage of any special skill of the staff member
FORTUNE PARK JPS GRAND hotel does transfer
to their employee. Employees are transferred from one shift to
another shift, as per the requirement.
WAGES :
Wages is the reward is given to the worker for their
contribution to produce. It is one type of compensation which is
given to worker for their work. Worker is working for wages
because through wages they can satisfied their basic need.
Wages is first motivation tool for worker. There are two type of
wages system.
1. Time wage system
2. Piece wage system
90
92
93
94
TRADE UNION
95
NUMBER OF EMPLOYEES
The human being working in any organisation
are valuable assets it. Shri J. R. D. Tata has remarked Well
experienced, imaginative & sincere employees are the most
valuable assets of the business. If proper care is taken of the
employees, if there are needs are satisfied & if proper
environment is provided to them then it becomes very easy to
achieve the objective of business.
In this hotel 250 persons works under this
organisation. They are considered as valuable assets. They work
from morning till night. All the employees are dedicated thats
why the hotel runs successfully.
96
97
98
PERSONNEL RECORDS
99
As per functions
100
101
INDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
101
ORGANISATION CHART
102
MARKETING MIX
103
104
MARKETING RESERCH
108
ADVERTISEMENT
110
SALES PROMOTION
112
COMPETITORS
113
102
106
INTRODUCTION
According to Philip Kotler, Marketing is the
process of planning, and executive the conception, pricing
promotion and distribution of goods ideas to create exchanging
with target groups that satisfy customer and organization
objective.
103
ORGANISATION CHART
MARKETING MANAGER
VICE PRESIDENT
ASSISTANCE GENERAL
MANAGER
OFFICER
MARKETING EXECUTIVE
WORKERS
104
MARKETING MIX
Marketing mix is the set of marketing tools that
the firm uses to pursue its marketing objectives in the target
market.
-Philip Kotler
105
PRODUCT LINE :
Product line mean each and every product co-related
which each other or we can say that similar type of product there
is no set of product and the product similar function in product
line.
A product line is a group of product that are closely
related because they function in a similar manner, are sold to the
same customer groups are marketed through the same types of
outlets, or fall within given price ranges. Motorola produces
several lines of telecommunications products.
PRODUCT MIX :
107
PRICING POLICY
The method of decision marking used for setting the
prices for a companys products or services. A pricing policing
is usually based on the costs of production or provision with a
margin for profit.
108
MARKETING RESERCH
109
ADVERTISEMENT
111
2. Non Verbal :
Posters
Advertisement of newspaper and magazine
Pamphlets
Calendars
3. Others :
112
113
SALES PROMOTION
Sales promotion, incentive tools such as samples,
coupons, prizes, free goods, prices off, trade shows and
conventions etc. which are mostly short term, are designed to
stimulate quicker or greater purpose of particular products of
services by consumers or the tread. Sales promotion can be used
for short run effects such as dramatize public offers and boast
sagging sale. It is an integral part of promotion mix and should
be carefully planned, designed and execute.
Sales promotion is a vital bridge or a connecting line
removing the gap between personnel selling and advertising the
two wings of promotion. The sale of a product has to be
promoted or encouraged through a no. of influences at the point
of purchase where retailers and prospective customer meet face
to face.
The facilities sales promotion of company some
consumers services should be taken, care of hotel FORTUNE
PARK JPS GRAND also takes such care hotel FORTUNE
PARK JPS GRAND gives credit facilities to its regular
customers in which a part of payment is to be paid in cash and
outstanding can be paid within give period of 1 to 30 days. It
also gives 10 to 20% trade discount as per guest or company.
114
COMPETITORS
DEFINITION :
A business that provides similar products or services.
The presence of competitors in an industry drives down the
price of goods and services because consumers have more
alternatives from which to choose of the price of a particular
good or service is too high.
Todays world is cut through compaction every one
want to give competition to each other through competition
quality became best it is good point of it every business have
their competition.
Any person or entity which is a rival against another.
In business, a company in the same industry or a similar
industry which offers a similar product service. The presence of
one or more competitors can reduce the prices of goods and
services as the companies attempt to gain a larger market share.
In the market have many hotels but some hotel have
very good quality & reputation in city. FORTUNE PARK JPS
GRAND is one of them; in short period FORTUNE PARK
JPS GRAND makes good value in the market but competitors
still today.
COMPETITORS:
Hotel TGB (The Grand Bhagvati)
Hotel BIZZ
Hotel IMPERIAL PALACE
115
116
INDEX
SR NO
PARTICULARS
PAGE NO
INTRODUCTION
116
ORGANISATION CHART
118
FINANCIAL PLANNING
119
4
5
CAPITAL STRUCTURE
120
FIXED ASSETS OF
MANAGEMENT
SOURCE OF FINANCE
121
123
WORKING CAPITAL
MANAGEMENT
INVENTORY MANAGEMENT
ACCOUNTING POLICY
125
10
MANAGEMENT OF CASH
126
11
127
12
BALANCE SHEET
128
6
7
117
122
124
INTRODUCTION
The main areas covered by the financial department include:
1. To provide strategic financial support regarding operational
and general business planning
2. To provide daily financial services functions
3. To meet and surpass the internal and external needs and
financial reporting requirements of the company at large
The finance department generally focuses on
providing relevant information necessary for upper level
management. Such information is crucial in determining how a
company can make better financial decisions.
Finance management is that managerial activity
which is concerned with the planning and controlling of the
firms financial resources.
Financial management means planning, organizing,
directing and controlling the financial activities such as
procurement and utilization of funds of the enterprise. It means
applying general management principles to financial resources
of the enterprise.
Financial management is an integral part of overall
management. It is not totally dependent area. It draws heavily on
related disciplines and fields of study such as economics,
accounting, marketing, production and quantitative methods.
The term nature as applied finance refers to its
relationships with closely related fields of economics and
objectives. In the early years of its evolution it was treated
118
ORGANISATION CHART
FINANCE MANAGER
119
VICE PRESIDENT
ASSISTANCE GENERAL
MANAGER
OFFICER
ACCOUNTANT
CLERK
FINANCIAL PLANNING
Finance is an important function of business. The
application of planning to the function is financial planning. It
involves the policies, determination of objectives and procedure
relating to the finance function. Financial planning is an
important function of a financial manager whether a business is
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CAPITAL STRUCTURE
Capital structure shows how a companys assets are
build out of debt and equity.
In theory, capital structure does not alter the value
of a firm, so there is an incentive to use more debt and deduct
interest expense to achieve tax savings.
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30%
30%
40%
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SOURCE OF FINANCE
There are s number of ways of raising finance for
a business. The type of finance for a business. The type of
finance chosen depends upon the finance of the business.
Large organizations are able to use a wider variety of
financial sources than are smaller ones.
Companies may need cash to fund their
operations, major projects, expansion into new markets and
investment. They sometimes need to find additional sources
of fund such as state and local governments, pointy investors
and lenders and hybrid equity debt investors.
INTERNAL SOURCE :
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Shares
Debentures
Banks
Other institutes
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INVENTORY MANAGEMENT
Decisions relating to inventories are taken primarily by
executives in production, purchasing and marketing department,
usually raw material policies are shaped by purchasing and
production executives, work in process inventory is influenced
by the decisions of production executive and finished goods
inventory policy is evolved by production and marketing
executives. Yet, as inventory management has important
financial implication. The financial manager has the
responsibility to ensure that inventories are properly monitored
and controlled. He has to emphasis the financial point of view
and initial programmers with the participation and involvement
of other for effective management of inventories.
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ACCOUNTING POLICY
The financial statement present a true and fair view of
the companys assets, liabilities, financial position and income
and expenses.
Recording of accounting transactions
Double-entry bookkeeping:
Double-entry bookkeeping is applied by their
industry, because the double-entry bookkeeping offers a much
better control the transactions being recorded properly compared
to the single-entry bookkeeping system.
Financial records:
Sales day book
General ledger
Nominal ledger
Debtors ledger
Creditors ledger
Payroll system
MANAGEMENT OF CASH
Cash in the medium of exchange which allows
management to carry on the various activities of the business on
day to day basis.
Cash management implies making sure that all the
business generated revenues are effectively controlled and
utilized in the best possible manner to result in gains for the
organization.
Cash management is one of the key areas of working
capital management. Cash is the most liquid current assets,
because all the other major liquid assets finally get converted
into cash.
It is desirable to make proper use of cash. It should neither
be more or less. If it is less then requirement of business, it
would lose its credit or prestige in the market. If more, the cash
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BALANCE SHEET
Balance sheets is a classified summary of the
balances remaining open in the ledger, after all the income and
expenditure accounts of the concern have been closed off by
transfer to profit and loss account. It shows financial position of
the business organization at a given date invested, the values of
assets and liabilities of the business concern and their nature.
The capital and liabilities of the business are shown on the left
hand side and assets and other debit balances are shown on the
right hand side of the balance sheet. Definitions of the balances
sheet by some prominent writers are;
According to freeman A balance sheet is an itemized
list of the assets liabilities and proprietorship of a business or an
individual at a certain date.
FORTUNE PARK JPS GRAND hotel have not
provide us their but balance sheet or financial account why
could not show it but FORTUNE PARK JPS GRAND hotel is
collect a big profit.
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CORPORATE SOCIAL
RESPONSIBILITY
Business depends on the society for the needed
inputs like money, men and skills according to Koontz and
ODonnell, social responsibility is the personal obligation of
every one as he acts for his own interests to assure that the rights
and legitimate interests of all others are not impinged.
A companys sense of responsibility towards the
community and environment (both ecological and social) in
which it operates. Companies express this citizenship 1.
Through their waste and pollution reduction processes, 2. By
contributing educational and social programs and 3. By earning
adequate retunes on the employed resources.
FORTUNE PARK JPS GRAND contributes to the social
environment by giving charity to the orphanage Bol Bala
and providing them lunch in the suntushti restaurant
occasionally.
FORTUNE PARK JPS GRAND hotel participates in the
Swachh Bharat campaign.
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MISSION
The value of having a mission usually formally
Recognized in a mission statement is to provide every
one in the organization with a shared sense of purpose
direction and achievements. In other word the business
domain of the company, priorities, direction of
development, business philosophy business policies etc.
are guided by the mission & objective of the company.
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SWOT ANALYSIS
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SWOT ANALYSIS
STRENGTH
WEAKNESS
OPPORTUNITIES
THREATS
S = STRENGTHS
Strength means power every company have strength
because without they can run their business. Strengths is just
like vitamins. As we know that for human body vitamins are
very necessary. Without vitamins human body can not survive.
Just like that company can not survive without strengths.
A firms strengths are its resources and capabilities that
can be used as a basis for developing a competitive advantage.
Good services
Homely atmosphere
Brand of the hotel
Trust of their customers
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Hygiene food
Good management
Chain hotel
Competitive prices
W = WEAKNESS
Weakness means where the company can not
performed very goof every business units or organization have
some weakness because no one is weak in some business areas.
Weakness is not remain continue company can remove their
weakness performing well in weak parts.
Limited presence
Prices are high as compared to competitors
Less use of advertising medium
Staff turn over
O = OPPORTUNITIES
Opportunities means getting chances for
development of company and in other words we can say that
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Corporate clients
Expanding hotel in many states
Hospitality service
T = THREATS
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FUTURE PLANS
Future plans is very important for any large, small or
medium scale units because future is uncertain. Through future
plan business can run smoothly.
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SUGGESTIONS
A few suggestions I would give to hotel FORTUNE
PARK JPS GRAND as person opinion are:
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CONCLUTION
My 15 days at this place passed like flesh of
light. It is my memorable experience of getting
practical training at Hotel FORTUNE PARK JPS
GRAND.
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BIBLOGRAPHY
I have referred following books for comprehensive
understanding and collection to information from and for
various concepts:
Marketing management
By B. L. Mathur
Hotel management
By Vijay Dhavan
Financial management
By Pramod Kumar
Personnel management
By L. M. Prasad
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WEBLOGRAPHY
In preparing my project I have views from different site :
www.fortunehotels.in
www.wikipedia.com
www.hirensodha.com
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