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Experience Creation, Service Design and Profitability Planning

Experience Creation, Service Design and Profitability Planning

Code: FES3RB011B
Extent: 5 ECTS (135 h)
Timing: Semester 3-4 (5)
Language: English
Level: Professional studies
Type:  Professional Specialisation Studies

Prerequisites
Basics of Business Mathematics and Financial Accounting and Reporting. The course is part of the module Customer Orientated Development in Tourism.

Learning outcomes
Students get familiar with customer-oriented product development and increases understanding of customers needs. Student understands the opportunities of using experience creation and service design methodologies in developing product concepts that produce value for customer. The student will master the traditional managerial accounting techniques and concepts and knows the basic profitability and productivity ratios in the hospitality business.
Upon successful completion of the course, the student
•    is able to develop customer oriented tourism experiences
•    knows how to apply service design methodologies 
•    understands the value of experiences to the business and to customers
•    possesses good skills and hands-on expertise in cost and profit planning and pricing
•    understands the productivity and key figures of the hotel, restaurant and tourism industry and can put them into practical use
       
Course contents
•    Tourism product development, methods, trends and opportunities
•    Innovation in Tourism
•    Augmented tourism product
•    Experience creation
•    Service Design Tools
•    Tourism Product Descriptions
•    cost volume profit (CVP) analysis
•    internal income statement of the hospitality and tourism business
•    management ratio analysis
•    pricing and revenue management

Cooperation with the business community and other organisations
All the assignments are working life related and based on practical cases. Part of the course is to develop customer oriented product concepts for the needs of Finnish Tourism Industry. Students are encouraged to actively present their own thoughts and to participate in innovating new experiences. 

International
Product concepts are targeted to International Customers. Students have to also follow international business customs and practices, e.g. Uniform System of Accounts, while analysing effectiveness and profitability.

Teaching and learning methods
It is possible to complete the course based on classroom learning or part time learning.

a) Classroom learning:
Lectures and examinations 56 h
Self-studies 78 h
The assessment of one’s own learning 1 h

b) Part time learning:
Lectures and examinations 36 h
Self-studies 98 h
The assessment of one’s own learning 1 h

Recognition of Prior Learning, RPL  (in Finnish AHOT)
The required skills and competences can be demonstrated by a skills examination.

Teachers with the main responsibility for the course
Kristian Sievers
Pekka Heikkilä

Course materials
Schmidgall, R. 2005. Hospitality Industry Managerial Accounting. Educational Institute of the American Hotel & Motel Association, USA. 
Tarssanen, S. 2009. Handbook for Experience Stagers. 5th Edition. LEO, Lapland Center of Expertise for the Experience Industry. Rovaniemi
Moritz, S. 2005. Service Design. Practical access to an evolving field. London.
And the other study material announced by teachers.

Assessment
Assignments
Examinations
The impact of different assessment criteria to the final grade will be told during contact hours.

The assessment of one’s own learning does not influence the grade. The assignment is the same for all courses/modules and the answers will also be used for course/module development. The assignment is completed online in WinhaOpaali.

Assessment criteria

Grade 1
The student knows the principles of design and experience creation. The student is able to use some service design methods but cannot give reasons to his decisions. The student can apply basic operational managerial accounting techniques using personal guidance.

Grade 3
The student is able to participate in service design project and contribute to the work of project group. The student can use design methodologies when supervised and can partly justify the made decisions. The student can solve challenging situations while taking both functional and financial issues into notice. The student can apply operational managerial accounting techniques using given instructions.

Grade 5
The student is able to lead a service design project and apply different methodologies.  The student can develop interesting and innovative service concepts and can justify the made decisions in a many-sided way. The student can identify and solve challenging situations while taking both functional and financial issues into notice. The student can skillfully, without help, apply operational managerial accounting techniques.