MIRPUR UNIVERSITY OF SCIENCE AND TECHNOLOGY

SUBMITTED TO: Miss Nadia Murtaza

SUBMITTED BY: Hamza Ali Abbasi 024
Moiz Qadeer Butt 052
SEMESTER: BFA-6th
SUBJECT: Corporate finance
 10 Visits To Any Local Business

Business: The Grand Regency Hotel

Manager’s Name: Zahid Subhani

All policies and decision making are done with the collaboration of the owners and the GM of
the company

Management Policies:

• The staff must wear uniform at all times.

• Staff is not allowed to speak harshly to the customers.
• Phone usage is not allowed during duty timings.
• Staff is not allowed to eat the food prepared for the customers.
• Salaries are disbursed on the first week of each month

Financial Policies:

Financial recording is done on an accrual basis according to financial standards. Cashbooks are
maintained by the accountant on a daily basis which are closed at the end of the day. Other
than that monthly income statement and balance sheet is also created as per the practice in other
Regency Hotels.

Operation:

The GM is responsible for the overall management of the hotel. The chef is responsible for the
kitchen and kitchen staff and reports to the GM directly. The Waiting staff in restaurant is
supervised by the captain who reports directly to the GM. The hotel staff is supervised by shift
supervisor of each shift who also report to the GM.

There are two 12-hour shifts for the hotel staff such as waiters and electrician etc. while the
kitchen staff operates a single 14-hour shift from 8am to 10pm with a 3-hour break from 3 to
6pm.

Software:

POS system is used for daily restaurant and wedding hall sales while MS Excel is used to
maintain database of expenses, revenue and assets such as inventory, furniture etc.

1
Management Decision Making:

The day-to-day operations are managed by the GM such as purchasing new inventory or
booking halls but decisions such as procurement of furniture, construction, branding are done
with the collaboration of the owners and the GM. The owners have the final decision regarding
the business.

Project Evaluation and Capital Budgeting:

New Investment decisions are made after evaluation of payback period, rate of return and net
present value. The evaluation is conducted by the finance department in Islamabad Grand
Regency hotel which is the Flagship Restaurant and Hotel of the Company.

Investment Decision:

Investment decisions are made solely by the owners after evaluation by finance department in
Islamabad. They Keep close eye on every aspect while taking any kind of Investment Decision.
The Owner has a 5 member team that provides with different ideas regarding Investment
Decision but in the end The Owner solely has the last call regarding where to invest and where
to not invest.

Hiring:
The GM has the authority to hire or replace the staff. All staff members are hired on a 7-day
trial basis where they are evaluated by their respective supervisors.
Lower-level positions such as sweepers, waiter is done on an informal basis

Higher level positions such as cook, accountant, shift supervisor are done after the initial
screening, work sampling and final interview with the GM.

Firing Policies:

The GM reserves the right to terminate anyone without notice or warning but this right is rarely
exercised. The staff with poor performance/behavior/attendance is given verbal warnings at
first and failure to improve after 3 warnings results in termination. The resigning employee
must serve a one month notice otherwise his salary of the month is deducted.