Business Plan and Hospitality: Financial Analysis, Strategic

Catalog description

Forecasting and Budgeting in Hospitality This course provides learners the opportunity to apply the core concepts of strategic management within hospitality industry. Students learn how to effectively formulate and implement business policies while gaining insight into the effective evaluation of hospitality organizational practices. By focusing on key management topics and industry-applied cases, students gain an understanding of the growing importance of data, from operational and marketing information to financial and industry-vendor supplied data, in strategic decision-making. Through the development of a business plan, students gain an appreciation of how to effectively leverage organizational strategy to build a competitive advantage. The course will integrate academ ic and practical experiences in the analysis of viability of small and micro hospitality business ventures; covers the business planning process, the management of small enterprises, feas ibility studies, formation of business plans, risk management, record keeping and personnel management and entrepreneurial characteristics. Topics will include political issues, social trends, and business cycles impacting hospitality businesses.