Profitable tourism businessLaajuus (5 cr)
Course unit code: MZBM1000
General information
- Credits
- 5 cr
- Teaching language
- Finnish
Objective
The student:
- understands the significance of financial thinking as a foundation of a thriving business in tourism business operations (accommodation, event and activities)
- masters the financial skills needed in a tourism managerial/expert position (production of information, reporting and making use of information, efficient communications)
- can calculate, produce and apply in practice the calculations and business indicators needed in managerial duties
- can make use of calculation information to improve the profitability and operational efficiency of a tourism enterprise.
Content
- profit makers in the tourism trade (accommodation, event and activities) (characteristics, cost structure, shift planning, tourism business capacity management, pricing and pricing strategies)
- profitability management/optimisation & profit calculation
- financial reporting & communications
- revenue management and pricing
- budgeting
- tourism VAT
- key principles of investment and cash flow calculation
Qualifications
Operational Environment in Hospitality, Sustainable tourism industry,Customer Oriented Experiences, Marketing,
Management, Accounting
Assessment criteria, satisfactory (1)
The student understands the significance of financial thinking as a foundation of a thriving business in tourism business operations and masters the financial skills needed in a managerial/expert position in terms of the production and making use of information as well as communications.
Excellent 5: Student demonstrates comprehensive, critical and analytical command of the above learning objectives.
Very good 4: Student demonstrates nearly comprehensive, critical and analytical command of the above learning objectives.
Good 3: Student demonstrates partial critical and analytical command of the above learning objectives.
Satisfactory 2: Student can apply the above learning objectives under supervision.
Adequate 1: Student can apply the above learning objectives under supervision but the result is inadequate.