OPTION 1: HOSPITALITY ENTREPRENEURSHIP SPECIALISATION
Innovation in Hospitality
The objective of the course is to provide students with expertise in conceptualising and developing a business plan using lean methodology.
Students will learn about ideation, concept validation, competition analysis and innovative business models. Start-up business planning techniques are linked to the idea generation, feasibility analysis, market research and development of various operational areas into related action/ tactical reports.
Projects, Ethics and Legal Considerations
This course is specifically taught to the BBA students who have elected to follow the Entrepreneurship stream during their 4th year of study. It will provide students with the prospect of exploring the impact of the external environment on a business concept to ensure that they are prepared to launch it in the real world. Students will examine considerations regarding the legal and social structure and responsibilities of an enterprise including contract requirements and partnership. Finally, students will plan their approach to t the collection, protection and use of sensitive customer data in their target locations.
Hospitality Forecasting and Modelling
The objective of this course is to provide students with expertise in financial forecasting and modelling techniques. Students will learn to forecast hospitality financial key performance indicators such as revenues and expenses, cash flows and capital and cost structures on new business models.
Digital Marketing and Content Creation
This course focuses on the creative and innovative use of digital marketing models, tools and content used in the hospitality industry. Exploring the customer’s digital experience will enable the student to design and visualise the digital journey, to create digital content for marketing and communications and to optimise for web and mobile experiences. Working in teams, students will support digital marketing campaigns they would encounter in the industry and will produce real-world digital results.
And two elective courses as required
OPTION 2: DIGITAL MARKETING STRATEGIES SPECIALISATION
Innovative Sales Strategies
The goal of the Hospitality Sales Management course is to examine the elements of an effective sales force as a key component of the organisation’s total marketing effort. The course will extend students’ understanding of marketing’s reach and potential impact in achieving its overarching goals. Course objectives include understanding the sales process, the relationship between sales and marketing, sales force structure, customer relationship management (CRM), uses of technology to improve sales force effectiveness, and issues in recruiting.
In this course, students examine how a favourable brand and memorable brand experiences can influence a firm’s ability to withstand competitive pressures and thrive in dynamic market conditions. They will study brand management from the consumer perspective to highlight the importance of customer perceptions in bringing brands to life and the role of brand knowledge in building brand equity. Students will become acquainted with innovative frameworks, concepts and tools that have been adopted across industries and around the globe to build lucrative brand franchises. This specialised course looks particularly at the hospitality sector focusing on successful hospitality brands.
This course is designed to develop a critical understanding of the formulation and implementation of integrated marketing communication plans and associated activities. The course draws on case study materials which enables students to appreciate and manage marketing communications within a variety of different contexts. Students will analyse the processes, issues and vocabulary associated with integrated marketing communications in order to make a contribution within their working environment both for internal and external audiences. This course will also explore hospitality online communication and social media optimisation.
Global Strategic Marketing
The aim of this course is to enable students to apply a strategic decision-making process in a complex international environment. Students will examine the importance of international strategic marketing for the hospitality industry and explore strategic decision-making models in practical situations. Working in a team environment, students will effectively appraise the design, development and contents of a strategic marketing plan. As a consequence, students will have the appropriate skills to formulate effective solutions for given business problems in a global hospitality context. Current business issues relating to ethical marketing are appraised, and sustainable marketing practices discussed.
And two elective courses as required
OPTION 3: HOTEL FINANCIAL PERFORMANCE MANAGEMENT SPECIALISATION
Performance Management is an advanced management accounting course that gives students the tools and skills to prepare and analyse internal management accounting reports. Management accounting allows managers to effectively plan, control and make decisions. The course explores pricing from an accounting cost-based perspective and how indirect costs (overheads) can be divided between departments and products. The use of variance analysis to control costs and budgets so that managers can better predict cash flows (cash, master and flexible budgets), as well as planning and measuring performance, are also covered.
Corporate Financial Decision Making
This course is designed to give students exposure to the role of the financial manager in a business enterprise. Students will gain a working knowledge of corporate finance tools such as financial analysis, time value of money, determinants of interest rates and the yield curve. Valuation and rates of returns for stocks and bonds, estimation of the cost of capital, capital budgeting decisions and strategies for raising capital will also be covered. Although the primary focus of the course is on corporate financial management, the knowledge gained in this course has direct application to financial management in the service industry at all levels.
Global Financing and Risk Management Strategies
As the hospitality industry operates in an international setting, this course presents the main elements of international finance. After analysing the determinants of exchange rates and the international monetary system, it will explore the exchange rate parity conditions, the country risks, and the transactional and translation exchange risks. Students are introduced to hedging strategies that a firm can apply using either the money market or derivative instruments. The course will also cover the risks and benefits of raising capital internationally and investing in foreign assets.
Hospitality Finance Forecasting and Modelling
This course provides students with important insights into financial forecasting and modelling techniques. Students will learn different approaches used to forecast hospitality time series such as supply, demand, revenues and expenses, as well as key performance indicators. They will also study different models to estimate the relationships between these series and apply the results in the wider context of capital appraisal techniques. In addition, the course will cover models used to estimate the riskiness of projects.
And two elective courses as required