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Business Planning and Simulation Game

Business Planning and Simulation Game

Code: SMB2RB005
Extent: 5 ECTS (135h)
Timing Semester 5-6
Language: English
Level: Basic studies
Type: compulsory/ Professional Specialisation Studies (PSS)
 
Prerequisites

•  Budgeting,
•  Business Start-Up in Hospitality and Tourism
•  Minimum credit amount 100 ECTS
 
Learning outcomes

  • The objective is to develop student’s management skills and to combine theoretical knowledge to practical management situations and business planning. Course will also enhance student’s project skills.
  • Student will understand the ”body and soul” of business management and operations as well as a complex in hotel and restaurant management. They understand that separate factors of profitability have an effect on profits.
  • Business game for hotel and restaurant management.
  • Teams of four compete for the same markets during two fiscal periods, that are divided in four parts. Game consists of eight rounds. The game includes decision making in various fields of business operations, e.g. planning and engineering menus, marketing, personal management and front office operations.

Course contents
• Business environment analyses
• Business development
• Financial statement analysis
• Project learning

Cooperation with the business community and other organisations
The course includes a case-study with a real-world company
 
Teaching and learning methods
Project learning and learning by developing. Students will work in project teams. Business simulation game. 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.

Teacher/s with the main responsibility for the course
Pekka Lampi
 
Course materials
Osterwalder, A. & Pigneur, P. 2010. Business Model Generation. Hoboken, New Jersey. John Wiley & Sons Inc.
Clark, T., Osterwalder, A. & Pigneur, P. 2012. Business Model You. Hoboken, New Jersey. John Wiley & Sons Inc.
Lecture material

Assessment
Assignment 80 %
Team evaluation 20 %

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 (Min. 40% competence level)
Knowledge:
The participant has limited understanding of the concepts and theories underlying the changing & challenging nature of business planning and their implications to the case studied. 
Skills:
The student has limited capability to research & identify best / attractive practices for business planning and applying theoretical knowledge.
Competence:
The student has limited motivation and ability to identify development trends and potential, diagnose risks and opportunities in business planning.

Grade 3 (Min. 70% competence level)
Knowledge:
The participant understands partially the concepts and theories underlying the changing and challenging nature of business planning and their implications to the case studied.
Skills:
The student is partly capable of researching & identifying best/attractive practices in business planning and applying theoretical knowledge
Competence:
The student is partly motivated and able to identify development trends and potential, diagnose risks and opportunities in business planning.

Grade 5 (Min. 90% competence level)
Knowledge:
The participant understands fully the concepts and theories underlying the changing nature of business planning and their implications to the case studied.
Skills:
The student is fully capable of conducting research and identifying best/attractive practices in business planning, and apply theoretical knowledge
Competence:
The student is fully motivated and able to identify development trends and potential, diagnose risks and opportunities in business planning.