Profitability Planning and Finance in Tourism (5cr)

Objective

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Content

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Assessment criteria, satisfactory (1)

Satisfactory skills:
The student has basic understanding of daily operations in tourism. He/she has vague understanding of the significance of strategy and has challenges in implementing its principles in practice. The student has some understanding of the importance of business processes and can apply them in tourism and hospitality related daily operations only partly. He/she has satisfactory knowledge of the utilisation of Enterprise Resource Planning and is able to apply tourism related ICT tools on a minor scale. The student has vague understanding of profitability from the perspective of revenue management. The student can name the main concepts of profitability planning and finance and knows its meaning for tourism SMEs. He/she has basic knowledge how to use localness as a resource in global business operations. The student participates in the contact lessons only occasionally and shows limited analytical, reflective and critical approach in his/her activities. All the assignments are mostly performed according to the instructions.
 

Assessment criteria, good (3)

Good skills:
The student has good understanding of daily operations in tourism. He/she understands well the significance of strategy and is able to implement its principles in practice. The student has good understanding of the importance of business processes and can mostly apply them in tourism and hospitality related daily operations. He/she has good knowledge of the utilisation of Enterprise Resource Planning and is able to apply most of the tourism related ICT tools. The student is able to understand profitability from the perspective of revenue management. The student has good understanding of the meaning of profitability planning and finance for business and can make basic calculations with assistance. He/she knows well how to use localness as a resource in global business operations. The student participates in the contact lessons quite actively and shows analytical, reflective and critical approach in most of his/her activities. All the assignments are mostly performed according to the instructions.

Assessment criteria, excellent (5)

Excellent skills:
The student has profound understanding of daily operations in tourism. He/she understands very well the significance of strategy and is able to implement its principles in practice. The student has deep understanding of the importance of business processes and can apply them in tourism and hospitality related daily operations. He/she has profound knowledge of the utilisation of Enterprise Resource Planning and is able to fully apply tourism related ICT tools. The student is able to understand profitability from the perspective of revenue management on a holistic level. The student is able to independently do profitability planning and make demanding financial calculations. He/she knows very well how to use localness as a resource in global business operations. The student participates in the contact lessons actively and shows analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

These are the general assessment criteria. Please note that there might be more specific assessment criteria for learning assignments which will be given at the beginning of the study unit.