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This course discusses perspective from food and beverage freestanding restaurants and hotels’ food and beverage department and analyses organisational, operational and financial aspects of modern food and beverage operations.
The students discuss labour cost control systems and interpret feasibility studies on an introductory basis. Food and beverage operating budgets are reviewed. The course places an emphasis on food and beverage concept development.
Proceeds from the understanding and analysis of financial statements developed during the third semester. The student will explore the key areas of financial decision making, forecasting and budget development and analysis. Fixed, variable and semi-variable costs are differentiated and revenue and cost responsibility are assigned. The effect that the behaviour of costs has on certain management decisions is discussed, as is the use of CVP and break-even analysis. Budget preparation theories are reviewed, and budgeting techniques are practised in the context of the hospitality business. Methods for judging variances between actual and budget figures are considered. Issues relating to the importance of future cash flows are analysed.
In this course, students will develop fundamental concepts of managing effective teams. It will include topics such as team building, teamwork tools, team dynamics and characteristics of mature teams, with a particular focus on improving working relationships and organisational effectiveness. Students will develop their social intelligence, and learn the fundamental concepts of networking, coaching and mentoring, which will be useful for a global work setting.
This course is designed to give students the required skills and knowledge to understand internet-based marketing distribution channels for the hospitality industry. Students will explore available digital platforms and channels as well as related applications of E-commerce used. It introduces the concept of digital sales and digital channel management. Community management is also explored as well as new components in the social media landscape. The effects of digital disruption are discussed both from the consumer and the product perspective and extended to all service providers.
This course prepares the students to manage the rooms division within a hospitality environment. Inventory and cost control concepts will be explored and studied, students will develop the managerial and leadership vision to run this department and to lead teams. The students will learn about maximising hotel revenue and productivity, using different pricing strategies and cost calculation methods, and keeping high-quality standards based on the guest requirements.
Hospitality Facilities Management is a multi-disciplinary role which integrates physical assets, people and technology ensuring functionality of the infrastructure to increase user safety and satisfaction. This course provides an introduction to the key facilities issues from a management point of view. It incorporates sustainability as a means of decreasing operational costs, increasing organisation profitability and work-place efficiency. Using digital resources and case studies, the course will prepare students to address facilities related questions and challenges.
This course introduces economic concepts that are fundamental to understand the issues faced by business firms. Supply, demand and elasticity are introduced, as well as long-run and short-run costs. Different forms of competition found in the hospitality industry are discussed. The Business Cycle and the phenomena of unemployment and inflation are examined. Macroeconomic challenges will be discussed such as world debt and inequality. The role of money, fiscal and monetary policy, Central Banking decisions and monetary systems are reviewed and the impact of currency fluctuations in the hospitality industry is emphasised.