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Essentials of Hospitality Management

Certificate ID: SHAC8
Develop your management expertise and build a wide range of skills with this essential certificate for hospitality managers. Marketing, finance, revenue management, coaching, and more are included.

Description

Each year, hundreds of professionals who want to sharpen their existing skills, develop new skills, and enhance their understanding of hospitality management participate in executive education programs from Cornell’s School of Hotel Administration. eCornell has worked hand-in-hand with the School of Hotel Administration to adapt its renowned Professional Development Series for convenient online delivery.

The Certificate in the Essentials of Hospitality Management presents critical topics for managers, covering marketing and finance fundamentals, revenue management principles, labor, and economic challenges in the hospitality industry, competitive strategies, stress management, coaching and counseling, and team dynamics.

Learn how to apply strategies and measure your revenue management performance. Learn to accurately interpret and utilize financial reports, and then convey the organization's financial condition to its constituents. Investigate the core principles of marketing. Develop a marketing plan in terms of moving from the strategic to the tactical. Build your understanding of who your customers are, and learn how to reach them effectively.

Who Should Take This Certificate?

This certificate series is designed for hospitality professionals within hotels and corporate offices seeking a baseline understanding of the many facets of hospitality including finance, marketing, foodservice, HR and restaurant revenue. This is also ideal for upper-level professionals who wish to refine their skills and be exposed to different aspects of the hospitality industry.

Enrollment

$3750 - Buy now and pay only $2900.00 (Save $850!)
(This price is good as of 09/02/2010.)

To register, click 'Enroll Now' at right, or contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).

Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.

Courses in this Certificate

• Understanding Team Dynamics

  • If organizations are to remain productive and maintain a competitive advantage in this fast-paced, constantly changing, global economy, it is essential that they understand how to create and utilize effective work teams at all levels of the organization. When well managed, teams improve productivity, innovation, and the likelihood of success. Ineffective teams lead to frustration and the loss of time and productivity.

    In this course, participants will explore the dimensions and inherent benefits of a well-organized, synchronized team and how to develop a systematic and concrete approach to organizing individuals into a highly effective, productive, and cohesive work force.

    Course Format

    eCornell takes a problem-based approach to learning, and builds each course around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.

    This course contains the following modules:

    • Teams and Team Goals
      • Benefits of working in teams over working independently
      • Establishing clear team goals
      • Characteristics of effective goals
      • Participatory goal setting
    • Team Member Behavior, Norms, and Group Interaction
      • Task functions and relationship functions
      • Behaviors that encourage or harm member relations
      • Developing healthy, productive group norms
      • Strategies to deal with social loafing
      • Factors affecting cohesion/cohesiveness
      • Bales Interaction Analysis
      • Five basic group structures and how they influence communication flow
      • Characteristics of a well-functioning team
      • The role of the participant observer
    
    
    
    Benefits to the Learner

    After completing this course, you will be able to:

    • Explain the principles of group dynamics and development
    • Describe the dimensions of team member behavior
    • Assess how effectively a team functions
    
    
• Managing People More Effectively
  • We experience stress as a normal response to changes, demands, pressures, or threats. When we fail to deal effectively with stressful situations, we continue to experience the stress response, leading to tension. This course provides coping strategies and stress-reducing techniques that managers and their employees can use—not only to improve their job performance but also to greatly reduce their risk of experiencing the harmful effects of ongoing stress.

    In the second part of the course, coaching techniques and exercises are presented. Counseling is an increasingly important skill for managers in the hospitality industry. Those managers who have mastered the basic skills of coaching can improve productivity by serving as resources to their colleagues and to their organization

    This course looks at stress from the perspectives of both the individual and the organization. In it, you learn the different types and sources of stress and how people react to them. You develop your ability to recognize the signs of stress so that you can manage stress effectively. You discover the factors that determine an individual's ability to cope with stress. Additionally, you learn the steps of the counseling process, the signs that indicate that an individual may need counseling, and the signs that indicate an individual may require professional help

    Benefits to the Learner
    After completing this course, you will be able to:

    • Recognize and manage your own stress-related symptoms
    • Recognize signs and symptoms that indicate an employee may need your help managing stress-related problems, or may need professional help
    • Implement appropriate and effective coaching strategies
    
    
• Understanding Financial Statements

  • In order for organizations to succeed, leaders and managers must be able to accurately interpret and utilize financial reports. They must also be able to assess the overall financial performance of the organization, a particular department, or the competition, and then convey the organization's financial condition to its constituents.

    In this course, participants will learn how to read and interpret income statements, balance sheets, and cash flow statements. By understanding the information contained in each of these key reports, participants will have a solid foundation upon which to base more advanced analysis of their firm's financial performance.

    Course Format

    eCornell takes a problem-based approach to learning, and builds each course around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.

    This course contains the following modules:

    • Reading the Income Statement
      • Understanding the purpose of the income statement and its overall structure
      • Interpreting the income statement line by line
      • Using the income statement
    • Reading the Balance Sheet
      • Understanding the purpose of the balance sheet and its overall structure
      • Interpreting the balance sheet line by line
      • Using the balance sheet
    • Reading the Cash Flow Statement
      • Understanding the purpose of the cash flow statement and its overall structure
      • Interpreting the cash flow statement at a detailed level
      • Using the cash flow statement
    • Other Elements of Financial Reporting
      • The purpose of an annual report
      • Online sources of financial information
      • GAAP and FASB, and their influence on the structure and use of these financial statements
    
    
    
    Benefits to the Learner

    After completing this course, participants will be able to:

    • Understand and interpret the information found in the three principle financial statements
    • Understand how the three reports relate to one another and how they are combined (with additional information) to serve as an annual report
    • Work with online sources of financial information to conduct research on other publicly-traded firms and industries
    
    
• Marketing Fundamentals for the Hospitality Industry
  • The most important objective in your business is to identify and satisfy customers. This is the primary role of marketing—a continuous process in which your ideas and analysis lead to actions and results, generating further ideas and analysis. In the current era, in which competition is intense and demand is uncertain, a marketing orientation is vital to success. By focusing on the needs of the customer, you are able to realize your sales goals and successfully compete in the marketplace.

    This course is designed to teach you the role and scope of marketing in an organization. You investigate many of the core conditions and concepts around which successful marketing and product placement are centered. You find out which factors provide value for customers and learn the essential principles of marketing that characterize the present era of market orientation. You explore and apply these principles through the examination of several case studies. You build your understanding of marketing and the development of marketing strategies, so you can serve your customers and deal effectively with competitors.

    Benefits to the Learner
    After completing this course you will be able to:

    • Make clear and effective marketing choices
    • Apply the fundamental concepts of marketing to the development of a marketing plan
    
    
• Meeting the Challenges of Foodservice Management
  • Success in the restaurant business is based upon the ability to know what characterizes a sustainable customer base, and to be able to serve the needs and expectations of that base better than your competition does. This course prepares you for success by investigating key topics you must understand before planning, opening, and managing a foodservice operation.

    In this course, explore the key reasons that a food and beverage operation is successful. Learn strategies for managing trends and fads in the foodservice industry, and discover the opportunities and risks associated with incorporating trends and fads in a foodservice operation. Develop your understanding of labor, technology, and economic issues, as well as issues having to do with the competition and with consumer attitudes. Identify major challenges facing foodservice operators, such as changing lifestyles and demographics and labor market issues, and look at ways those challenges are being met today.

    Benefits to the Learner
    After completing this course, you will be able to:

    • Identify the factors that drive a restaurant’s success or failure
    • Discuss current issues and challenges affecting foodservice operations
    • Employ strategies to manage trends and fads
    
    
• Introduction to Hotel Revenue Management

  • Implementing a revenue management strategy can be one of the most important revenue-generating initiatives available to a hotel, significantly increasing room revenue and profits. This course provides an overview of revenue management applications to the hotel industry designed to inspire a strategic shift to managing revenue per available room (RevPAR).

    Revenue management is a systematic process designed to increase revenue by selling the right room to the right person at the right time for the right price. In addition to evaluating different pricing models and applying duration-management strategies, this course provides a foundation for more advanced revenue management courses in forecasting, group management and overbooking, pricing strategy, and application of revenue management techniques to other hospitality-related industries including spas and athletic facilities.

    Benefits to the Learner

    Participants who complete this course will be able to:

    • Describe hotel revenue management and its benefits to the organization
    • Discuss the strategic levers of hotel revenue management and how they can be manipulated to increase revenue
    • Describe hotel revenue management in terms of its component parts and critical considerations
    • Recommend non-traditional ways in which revenue management techniques can be applied to increase revenue in the hospitality industry

    
    
• Introduction to Restaurant Revenue Management
  • This course demonstrates that, by manipulating meal duration and price, restaurant managers can maximize revenue using the restaurant revenue management approach. Learn the key concepts of revenue management, and find out how others have implemented this approach successfully, increasing revenue from two to five percent.

    In this course, you learn to view the restaurant’s revenue capability using the concept of “revenue per available seat hour” and you learn how to calculate this value. You discover the value of identifying hot, warm, and cold revenue periods and learn how to maximize revenue in each. You are introduced to the five steps in the revenue management process and discover the conditions necessary for the successful implementation of the revenue management approach.

    Benefits to the Learner
    After completing this course, you will be able to:

    • Develop detailed recommendations for improving revenue
    • Implement strategies to increase hot, warm, and cold revenue periods
    • Analyze the potential return on investment associated with implementing restaurant revenue management strategies
    • Measure the improvement associated with implementation of strategies developed using restaurant revenue management
    
    

Technical Requirements

With all eCornell courses, access is easy. Participants only need a computer and an Internet connection. To view specific technology requirements, visit our Technology Requirements page.

 
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