MSc in International Hospitality Management: Discovering the world of finance within the hospitality industry
Throughout the course of the year, students of the MSc in International Hospitality Management double degree program benefit from many different courses ranging from specific industry courses to modules focusing on the fundamentals of management. To give you an idea of the type of courses you would benefit from in the program, 4 students wrote an article highlighting certain modules and the course that they've preferred so far!
Read the article below written by Hubert, Charlène, Amandine and Victoire and see why learning about finance and financial statements in a hospitality management program is tremendously important:
We started the semester at the beginning of September (for a few of us) and October for the others. After an integration week with the different master students from our two schools, we went to Chassagny to do a "boot camp" day with students from emlyon business school. We spent another day discovering our cohort through different activities and the last day we had a movie project with students from Institut Paul Bocuse's Master in Culinary Innovation.
During this first semester, we had several classes. Some of them are mandatory and others are elective courses.
As mandatory classes we had:
- Strategic Management
- Innovation Management
- Statistics
- Entrepreneurship
- Introduction to Financial Statement
- Mandarin
For the elective courses we had to select minimum 2 courses between the following ones:
- Hospitality Marketing
- CRM and Electronic Market Place
- Service Design
- Team Management
- Managing Service Quality
- Diversity Management
There is a course that we really enjoyed. It was Introduction to Financial Statement. It seems weird to like and enjoy such a class because there is nothing fun with Finance, but the teacher made the class fun. This class was a week long. One week with the same person, studying one course. Looks awful doesn't it … but it wasn't.
Mr Amit Sharma, our teacher, originally from India, is an Associate Professor of Hospitality Management/Finance, and Director of the Food Decisions Research Laboratory in the School of Hospitality Management at Penn State University in Pennsylvania, USA.
At the beginning, the teacher introduced financial statement and gave us the reason why we should pay attention to it. Then, this was followed by working on a project. We had to create the financial statements for a hotel and restaurant or for a restaurant and a bar. Each student chose the project, the location and the type of business. All our projects were unique. Mr Sharma drove us through the different steps. We made some assumptions thanks to information that we found online or thanks to the class knowledge. At the end, we analyzed different ratios useful to study our financial statements. Our course was evaluated through different quizzes. The last quiz was about our project and the analysis of the statement.
The really positive thing about this course is that we learned how to understand a template of financial statement. We can now use our work for our entrepreneurship project.
We noticed that all our classes are linked to help us in our entrepreneurship project. Teachers are giving us the tools to make the right financial decision, to develop a good marketing plan, to work with a diverse team, to manage the service quality of our company and to be creative in order to differentiate ourselves.
After a really intense semester, we are now ready to move on to the second semester, where our main project will be to develop a prototype of a restaurant. We will be working with the Culinary Master students of Institut Paul Bocuse to develop this prototype.
Discover the MSc in International Hospitality Management:
With a clear focus on innovation, the MSc in International Hospitality Management from emlyon business school and Institut Paul Bocusewill help you:
> Obtain entrepreneurial managementskills from emlyon business school – ranked in the top 30 for Global Employability by The Times Higher Education - University Ranking 2016
> Gain international hospitality knowledge from the prestigious Institut Paul Bocuse
> Learn how to apply critical thinking and technical knowledge to this dynamic industry thanks to project-based learning.
> Study in both France and China with a semester in Shanghai; world-famous for hospitality.
> Put your knowledge into practice with a 4-6 month internship, giving you practical experience to stand out to future recruiters.
> Benefit from tailored careers workshops and events from both institutions
Discover the MSc in International Hospitality Management today!
