Introduction to Hospitality Business EconomicsLaajuus (5 cr)
Code: 8T00GK38
Credits
5 op
Objectives
You will learn how to calculate margins and profitability in practice and the importance of the calculation in performance-oriented pre-work. You will also learn profitability thinking with practical examples.
Student:
- is able to develop essential financial management skills in the field of restonomi - is able to explain the meaning of accounting and its connection to the rest of the organization's operations - is able to utilize spreadsheet software in the calculation of the professional field.
- is able to interpret performance indicators and income statement
Content
WHAT is the importance of financial management as a component of business success?
WHAT mathematical and financial skills are needed in the profession?
HOW are professional calculations are done using a spreadsheet software?
Assessment criteria, satisfactory (1-2)
The student performs basic arithmetic tasks in the profession.
The student uses ready-made calculation templates in Excel and performs simple calculations in a guided manner.
Assessment criteria, good (3-4)
The student makes calculation templates in Excel and performs demanding calculations independently.
The student is able to choose the most appropriate procedure from different options and justify his / her choice.
The student understands the importance of economics in business.
Assessment criteria, excellent (5)
The student makes demanding spreadsheets in Excel and uses them to aid in simulation.
The student applies mathematics to solve problems. He / she is able to look for different ways of working and solutions, justify his / her choices and try new ways of working.
The student understands the importance of economics in business.
Enrolment period
11.11.2024 - 05.01.2025
Timing
13.01.2025 - 20.02.2025
Credits
5 op
Mode of delivery
Contact teaching
Unit
Hospitality Management
Campus
TAMK Main Campus
Teaching languages
- Finnish
Degree programmes
- Degree Programme in Hospitality Management
Teachers
- Tiina Wickman-Viitala
- Sami Salonen
Person in charge
Sami Salonen
Groups
-
24RESTO
Objectives (course unit)
You will learn how to calculate margins and profitability in practice and the importance of the calculation in performance-oriented pre-work. You will also learn profitability thinking with practical examples.
Student:
- is able to develop essential financial management skills in the field of restonomi - is able to explain the meaning of accounting and its connection to the rest of the organization's operations - is able to utilize spreadsheet software in the calculation of the professional field.
- is able to interpret performance indicators and income statement
Content (course unit)
WHAT is the importance of financial management as a component of business success?
WHAT mathematical and financial skills are needed in the profession?
HOW are professional calculations are done using a spreadsheet software?
Assessment criteria, satisfactory (1-2) (course unit)
The student performs basic arithmetic tasks in the profession.
The student uses ready-made calculation templates in Excel and performs simple calculations in a guided manner.
Assessment criteria, good (3-4) (course unit)
The student makes calculation templates in Excel and performs demanding calculations independently.
The student is able to choose the most appropriate procedure from different options and justify his / her choice.
The student understands the importance of economics in business.
Assessment criteria, excellent (5) (course unit)
The student makes demanding spreadsheets in Excel and uses them to aid in simulation.
The student applies mathematics to solve problems. He / she is able to look for different ways of working and solutions, justify his / her choices and try new ways of working.
The student understands the importance of economics in business.
Assessment scale
0-5