BUSINESS PLAN FOR HOSPITALITY (ONLINE) - 2023/4
Module code: MANM504
The module requires students to apply their learning from prior business studies and modules to initiate and develop an idea for a new business venture, including the critiquing of an existing business plan.
This module will assist students in their preparation and presentation of a detailed business plan.
The module is also designed to develop the ability of students to work in teams.
Hospitality, Tourism & Events Management
CIRAULO Marco (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 84
Lecture Hours: 22
Seminar Hours: 11
Practical/Performance Hours: 33
Prerequisites / Co-requisites
Students must choose this module if they wish to do a final 60 credit Business Plan
Indicative content includes:
- Introduction to business plan
- Understanding the planning process and developing the plan (using Business Model Canvasing and Business Model Navigator)
- Critical analysis of business models with focus on “Disruptive Industry”
- Ownership model and intellectual property with focus on “Disruptive Industry”
- Risk assessment and resourcing
- Market research and evaluation
- Business sustainability issues
- Measuring business performance
- Continuous improvement
- Business impact of global disruptions such as COVID-19 pandemic on the industry
|Assessment type||Unit of assessment||Weighting|
|Coursework||Individual Reflective Learning (500 words max)||30|
|Coursework||Individual Report (500 words max)||35|
|Oral exam or presentation||Individual Report (8 slides + 8 mins presentation)||35|
The formative and summative assessments for this module include written assignments, reports, portfolios, presentations, business simulations, vlogs and blogs. These assessments can be completed on an individual basis. For the first assessment, each student is expected to critically evaluate a business plan, showing clear evidence of overall understanding of what constitutes an effective plan. The second and final assessment requires students to reflect on their learning and the different tasks we have set through-out the module.
Thus, the summative assessment consists of:
1st Assessment (end-of term): Individual critical evaluation – 70%
Students will be required to produce a 500-word executive summary that consists of a critical analysis of an existing business plan within the hospitality, tourism, and events industry. Students will need to draw on the latest academic research and industry best practices and trends to demonstrate the relevance of their analyses. Students will also submit a recorded presentation elaborating on their assessment of the business plan. The recorded presentation shall not be longer than 8 minutes and does not allow more than 8 PowerPoint slides with a total of maximum of 500 words.
2nd Assessment (mid-term): Individual learning e-portfolio – 30%
Students will be required to complete a series of tasks throughout the module and receive Formative Feedback on these tasks. Each task adds up to their learning and once all tasks are completed students then need to critically reflect on and evaluate their completed tasks, their own learning, and how this informs their professional practice and/or their enterprising and global outlook. Students will be required to produce a critical reflection of their own learning through the submission of 500-word executive summary.
The formative Feedback consists of:
During the first online activity, the assignments and the feedback process is explained;
Feedback is also provided during and after online guided activities;
The online activities are built around topic-specific exercises in a group setting and or individual tasks. Hence, students do not only benefit from lecturer feedback but also receive peer evaluations in their teams / class.
A pre-assignment feedback session and drop in tutorials are offered and will form part of this module. During this session, students will be presented with “mog” exercises representing the assignment concept and structure.
The outcome of the “mog” exercise will be discussed in a group and individual lecture feedback will be provided as well. This enables students to assess their own performance compared to their peers.
- This module aims to equip students with understanding and application of key aspects of new venture creation and development, including: deciding upon a business idea, developing a business model canvas and a value proposition for key stakeholders, and refining a business model to deliver value proposition to customers and return on investment (ROI) to investor/s.
|001||Demonstrate an in-depth understanding of the interaction between various key functional areas within management||PT|
|002||Demonstrate an ability to acquire and organise information from a wide range of source materials||CT|
|003||Demonstrate an ability to critically analyse and prepare solutions to an increasingly complex set of business problems||CKPT|
|004||Demonstrate and utilise the skills necessary for effective group and teamwork||PT|
|005||Critically apply and evaluate management theory and principles to hospitality/ tourism/events practice(s)||CK|
|006||Able to develop a feasibility study and a business plan for a hospitality/tourism/events concept||CKP|
|007||Able to prepare financial reports and establish sources of funding for a new operation||CKPT|
|008||Demonstrate an ability to plan creatively and think strategically and critically||CPT|
|009||Critically aware of business practice in an international context||CK|
|010||Able to evaluate the financial, marketing, operational and strategic issues in setting up a new business||CK|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The teaching and learning methods are fully geared towards an online teaching approach, centred around the key online learning design principles of learner-centred, useful, engaging, flexible, consistent, supportive, and accessible.
The teaching and learning undertaken on this module will reflect the following categories of training:
- Flipped classroom approach, allowing students to self-study and the teaching team to facilitate the learning rather than the traditional methods of knowledge transfer.
- Teaching of theory, which may include asynchronous online lectures, simulation exercises, online learning, research, and networking.
- Practical training, which may include industry virtual visits and participation in guided activities to apply the theoretical knowledge, concepts, and models in practice.
- Learning support and time spent writing assignments and partaking in assessments.
- Reflective learning and self-evaluation to impart new knowledge, skills, and behaviours (e-portfolio).
The learning and teaching strategy is designed to provide students with an overview of the theories covering the key areas of developing a business plan within the hospitality, tourism, and events industry.
The module will focus on providing students with a combination of the necessary conceptual knowledge and practical skills to prepare them to eventually produce a business plan in the hospitality, tourism, and events industry.
The learning and teaching methods include:
- guided mini lectures and talks, and supporting guest lectures ( asynchronous)
- online exercises, practical examples, and topical case studies to critically discuss and apply theoretical knowledge to contemporary industry practices
- a case study critique project in which students diagnostically evaluate an existing business plan
- webinars (synchronous)
- formative online feedback and Q&A sessions
Students will have a teaching team who will assist with independent or self studies. The teaching team will provide core materials and give formative and summative feedback on students’ tasks and assignments, as well as advice and guidance.
Students can enhance their independent learning by attending pre-scheduled virtual classes, online meetings, and Q&A forums. These sessions will provide an opportunity for students to engage with members of the teaching team and fellow students in a series of activities that will help consolidate learning and prepare for module assessments.
The Collaborative Activity online meetings with tutor and fellow students are essential learning opportunities designed to enable students to successfully complete the end-of-module assessment. In the Collaborative Activity, students will be asked to diagnostically evaluate an existing business plan – this will be done through online group sessions and students work in teams. They will also evaluate their critique in a panel discussion.
Recordings of synchronous online sessions will typically be made available to students.
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Upon accessing the reading list, please search for the module using the module code: MANM504
Programmes this module appears in
|International Hospitality Management with Digital Innovation MSc||2||Optional||A weighted aggregate mark of 50% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2023/4 academic year.