BUSINESS PLAN FOR HOSPITALITY, TOURISM AND EVENTS - 2024/5
Module code: MANM394
Students will have the opportunity to learn about the different approaches that aim to answer the question: how do I plan and assess the viability of a new venture? Business plans are essential not just for the successful implementation of start-up ventures, but also for continued business growth, including strategic competitiveness. A good business plan underpins business success on all levels, and becomes a major guideline to sound management practices. All students will find much value in the business principles inherent to the planning process, which will lead to an enhanced commercial understanding.
Hospitality & Tourism Management
VAN ACHTERBERGH Leon (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
JACs code: N340
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 117
Tutorial Hours: 11
Guided Learning: 11
Captured Content: 11
Prerequisites / Co-requisites
Indicative content includes:
- Introduction to business plan
- Entrepreneurship in THE
- Financial forecasting
- Understanding the planning process & developing the plan
- Risk assessment
- New business start-up operational issues
- Marketing research
- Ownership, intellectual property
- Stakeholder management
- Strategic issues
- Ethics & environmental issues
- Measuring performance
- Critically analysing the business plan
- Continuous improvement
|Assessment type||Unit of assessment||Weighting|
|Coursework||BUSINESS PLAN REPORT (INDIVIDUAL: 3,000 WORDS)||100|
Alternative Assessment: When an individual student needs to do an alternative Group Presentation (Assignment 1), then it will be required as an individual report, on the same topic, to a max. of 2000 words. If the group needs to do an alternative Group Presentation (Assignment 1), then it will be required as a resubmission of the presentation slides, with completed comments in the ‘notes section’ to explain and elaborate on the content submitted. With the individual Business Plan Report (Assignment 2), the alternative assessment will be the same requirement as with the original.
Assessment is mainly through written assignments, reports, portfolios, presentations, business simulations and workshop activities. These assessments can be completed either as part of a group or on an individual basis. The 1st assessment for this module requires students to work in a group to effectively develop a feasibility study for a concept of their choice within the hospitality, tourism and events sectors and present the findings of their study. Furthermore, in their 2nd assignment, each student is expected to critically evaluate a business plan, showing clear evidence of overall understanding of what constitutes an effective plan.
More specifically students must be able to complete the following:
- Demonstrate effective use of management skills and knowledge in the hospitality, tourism and events sectors
- Demonstrate knowledge of sources of financing an operation and presenting financial data effectively
- Integrate effectively the various business disciplines
- Demonstrate originality and rigor in research and analysis
- Apply management theory and principles to a business activity
- Develop and present feasibility studies
- Understanding and evaluate the necessary requirements of business plans
- Demonstrate practical comprehension of concepts' strengths and limitations
Students receive feedback throughout the semester via face to face teaching which will support them to complete the assessments.
- Develop students with the skills and knowledge necessary to be an effective hospitality, tourism and events entrepreneur.
- Apply relevant management theories and principles to business practice.
- Examine management practice within a wider economic and political context.
- Develop a multi-disciplinary and integrative approach to problem solving.
- Develop an ability to define and evaluate strategic management issues in the hospitality, tourism and event sectors.
|001||Apply and evaluate management theory and principles to hospitality/ tourism/events practice(s)||KC|
|002||Develop a feasibility study and a business plan for a hospitality/tourism/events concept.||KCP|
|003||Prepare financial reports and establish sources of funding for a new operation.||KCPT|
|004||Plan creatively and think strategically and critically.||CPT|
|005||Explore business practice in an international context. Evaluate the financial, marketing, operational and strategic issues in setting up a new business.||KC|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The teaching and learning strategy is designed to enable participants to apply theory to practice with an opportunity to reinforce their understanding of the processes and skills involved. The strategy also encourages participants to take ownership of their own learning.
The Learning Outcomes methods are met through:
- Guest speakers
- Multimedia resources
- Support materials
- Individual and Group work
In addition the module teaching teams are accessible throughout the semester to address and clarify questions. Office hours will be provided. Feedback given will be oral and written on an individual basis and summative.
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: MANM394
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 2024/5 academic year.