Module Details

Module Code: HOSP B8Z01
Full Title: Business Management Simulation
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction: 
Duration: 1 Semester
Credits:: 5
Module Owner:: Brianain Erraught
Departments: Unknown
Module Description: The aim of this module is to provide an overall experience that ties together the numerous concepts delivered during the students previous management studies. This will strengthen, and broaden students, knowledge and understanding of management in the hospitality & event industry.
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Evaluate the key role of the strategic management disciplines of marketing, human resources, operations, accounting.
MLO2 Formulate business plans and departmental operating statements based on an analysis of financial information and the internal and external environments
MLO3 Interpret information about key market segments, financial data and other key performance indicators in order to achieve competitive results
MLO4 Utilise a computer-based business simulation to operate a business in a dynamic and competitive environment, making decisions in accelerated real-time and analysing results from comprehensive management reports and market feedback.
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named DkIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
 
Module Indicative Content
Strategy
Macroeconomic factors as part of strategic planning,Microeconomic factors as part of tactical planning,Identifying and working with the ‘competitive set’
Marketing
The importance of complementary products and strategic fit, The-increasing importance of market research in growth plans and as a method of business protection,The need for segmentation and differentiation,The importance of market driven policies, Marketing in a competitive environment
Sales
The price, product quality, and volume relationship,Principles and concepts of 'Revenue Management' Finance
Finance
Financial concepts and efficient use of resources,Working capital, cash flow, and investment decisions,The importance of market intelligence for effective investment, Financial evaluation: the importance of continual assessment of performance,Managing wage control to achieve optimum returns - getting the balance right
Human Resource
The need to invest in people – wages, salaries and training,Structured training and development
Operations Management
Business interdependencies, The need to plan, do and review,Developing objectives and performance measurement criteria, Planning and budgeting,Cause and effect of decisions
Finance
Departmental Operating Statements, Key Performance indicators (KPI's), Wage cost %, Food cost %, Occupancy %, Avg Room Rates, RevPAR, Forecasting, Return On Capital Employed (ROCE)
Strategy Evaluation
Measurements including benchmarking, balanced scorecard approach
Module Assessment
Assessment Breakdown%
Course Work100.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Group Project % of Total Mark 25
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 1,2
Duration in minutes 0
Assessment Description
Business Plan Year 1, Forecasted Operating Budget Year 1
Assessment Type Practical/Skills Evaluation % of Total Mark 10
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 4
Duration in minutes 0
Assessment Description
Business Simulation weekly class attendance
Assessment Type Group Project % of Total Mark 35
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 2,3,4
Duration in minutes 0
Assessment Description
Yearly Financial Reviews
Assessment Type Group Project % of Total Mark 30
Marks Out Of 0 Pass Mark 0
Timing n/a Learning Outcome 1,3
Duration in minutes 0
Assessment Description
Final Report and Presentation
No Project
No Practical
No Final Examination

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Tutorial Contact Finance, Strategy Formulation and Analysis. Every Week 1.00 1
Practical Contact Computer Lab classes using the Business Simulation Every Week 2.00 2
Directed Reading Non Contact Handouts on key areas of Strategy, Finance, Human Resources and Marketing. Every Week 2.00 2
Independent Study Non Contact Strategy, Business planning, Analysis and Finance Every Week 4.00 4
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
This module has no Part-time workload.
 
Module Resources
Recommended Book Resources
  • Thompson, Stricland, Gamble, Peteraf, Janes & Sutton. (2013), Crafting and Executing Strategy- The Quest for Competitive Advantage, European. McGraw- Hill, United Kingdom.
  • Johnson, G., Scholes, K., and Whittingdon, R.. (2008), Exploring Corporate Strategy, 8th. Prentice Hall, Edinburgh.
This module does not have any article/paper resources
Other Resources
  • website, http://simulations.etosc.com/.