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Entrepreneurship in Hospitality

By Derrick Austin,2014-07-09 12:23
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Entrepreneurship in Hospitality ...

    F07 HSPM 170

    San Jose State University

    Department of Hospitality, Recreation and Tourism Management

    HSPM 170 The Hospitality Entrepreneur

    Fall 2007

Course Information

Instructor: Dr. Tsu-Hong Yen, Associate Professor

     Department of Hospitality, Recreation and Tourism Management

     San Jose State University

    Course Title: The Hospitality Entrepreneur

    Course Code: HSPM 170: 56563

    Section: 1

    Class Hours: Thursday 1:30 pm 4:15 pm

    Classroom: BBC 320

    Office Hours: Monday and Wednesday 10 am to noon, or by appointment

    Office Location: SPX 53

    Office Phone: (408) 924-3292

    E-mail: yen_hspm170@yahoo.com (preferred communication method)

    Department Fax: (408) 924-3061

    Final examination: Tuesday, December 18, 12:15 14:30 pm

Textbook

Katz, J. A., and Green, R. P. (2007). Entrepreneurial Small Business. Boston, MA: McGraw Hill.

    Textbook website: www.mhhe.com/katzesb

Catalog Description

Explore the creative, risk taking, innovative, and passionate nature of entrepreneurship. Investigate

    the process of transforming creative ideas into commercially viable business ventures. Examine

    the creation, planning, management, operations, growth, and development of new hospitality

    business.

Learning Objectives

Upon completion of this course, students should be able to:

    1. explain the synergies among creativity, innovation, and entrepreneurship in the hospitality

    industry;

    2. describe the entrepreneurial prospective in the hospitality industry;

    3. evaluate the business environment and its importance to new business ventures;

    4. evaluate the legal requirements and process to start a new business;

    5. describe the marketing, financial, and human resource management of a small business;

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    6. identify the importance of growth and succession for a small business;

    7. describe the importance of strategic planning for a small business;

    8. identify entrepreneurial trends in the hospitality industry;

    9. prepare a business plan for your own hospitality enterprise.

Grading policy

     Assignments Weight

     Quizzes 15

     Mid-term examination 15

     Final examination 20

     Participation 20

     Business plan written report 20

     Business plan presentation 10

     Total 100

Final total percentage range and letter grade:

     96 100 A+

     93 95 A

     90 92 A-

     86 89 B+

     83 85 B

     80 82 B-

     76 79 C+

     73 75 C

     70 72 C-

     66 69 D+

     63 65 D

     60 62 D-

     59 and below F

Explanations of assignments

     Participation

    Participation in this course is expected. It accounts for 20% of your grade. To receive

    maximum benefit from this course, you are expected to attend all classes, come prepared,

    and actively participate in the discussion. Late arrival and early departure in class are

    marks of disrespect, unprofessional, and interrupt class. Please be on time. Evaluation of

    participation will be based on participation in class discussions and exercises, homework,

    assignments, Internet exercises, etc.

     Mid-term examination

    The mid-term examination will take place in Week 9. The instructor will not administer

    make-up examination. If you know that you will not be able to take an examination during

    its scheduled time, please inform the instructor and make appropriate arrangements.

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    F07 HSPM 170

    Final examination

    The final examination will be comprehensive and cover all materials in this class. No make-up examination will be given. If you know that you will not be able to take an

    examination during its scheduled time, please inform the instructor and make appropriate arrangements.

     Business plan This course will focus on exploring entrepreneurship opportunities in the hospitality industry, such as hotels, motels, bed and breakfast establishments, restaurants, food supplies, supplementary services, etc. in the hospitality logistic chain. This assignment provides you the best opportunity to start the planning process. This assignment may be

    done in group of no more than three students. Each group is required to develop a

    business plan for a concept related to hospitality of their own interest. Each group needs to keep a journal documenting all study activities. You need to turn in the journal at the end of this semester.

    The objective of a business plan is to provide a blueprint to start and run a business. A good business plan requires a tremendous amount of time and effort to think, explore, research, debate, assess, and evaluate the business idea. The purpose is to provide

    answers to the following questions, in order to reduce the risk of failure and to assure success. What is the business idea? How will you make money? What value is the

    business creating? Is there a market for your produce/service? Who are the competitors? How competitive is the market? Can you offer the product/service at an acceptable and profitable price? What are your costs, expenses, and revenues? How and where will you get funds for your business? How will you repay your creditors and investors? Can you create a sustainable competitive advantage that you can successfully exploit?

The business plan should address the following issues:

? a detailed description of the concept/idea,

    ? a discussion of potential customers,

    ? a SWOT analysis,

    ? present and anticipated competition,

    ? sources of marketing research, i.e., business journals, web sources, etc. ? a marketing plan,

    ? a comprehensive discussion of operations and the management and staffing of the

    enterprise, i.e., costs, expenses, and revenues,

    ? a break-even analysis,

    ? financing plan to assure sources of capital,

    ? repayment plan,

    ? financial statements including a pro-forma income statements, and balance sheets, for

    the first three years of operations.

Requirements: A professionally prepared business plan. Each business plan needs to

    prepare a presentation of 20 minutes.

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    F07 HSPM 170

COURSE POLICIES

Policies outlined in the University Catalog shall be enforced as defined. You are responsible for

    understanding the policies and procedures about add/drops, academic renewal, withdrawal, etc.

    Further, instructor policies identified in this syllabus shall be the governing structure for this course

    and shall be enforced as defined. Plagiarism and cheating on examinations will be penalized to the

    fullest extent of University regulations. Students are encouraged to take the plagiarism tutorial

    offered by the King Library, http://tutorials.sjlibrary.org/plagiarism/index.htm . Please read the

    SJSU Academic Integrity Policy S04-12 at http://www2.sjsu.edu/senate/S04-12.pdf.

E-mail Announcements

    The instructor will use e-mail to make course-related announcements. It is the student’s responsibility to provide the instructor with correct e-mail address and to read e-mail regularly. Due

    to the current computer virus threats, when sending an e-mail to the instructor, please type your

    name and course number in the SUBJECT field. The instructor will not read any unidentifiable e-mail.

Assignments turned in after the due date without prior approval will not be accepted.

Make-up exams will not be given. Students with scheduling difficulties must make arrangements

    with the instructor prior to the exam.

    Positive Suggestions

    Since this is an on-line course, please make a sincere attempt and commitment to study on-line

    materials for each class. Read the assigned readings. Participate in on-line case discussions.

    Hand in your best work. Ask questions. Make an appointment if you are having any problems. Be

    proud of your accomplishments. Do the readings weekly. Take charge of your education and

    strengthen your knowledge. It can only payoff.

    Campus policy in compliance with the Americans with Disabilities Act

“If you need course adaptations or accommodations because of a disability, or if you need special

    arrangements in case the building must be evacuated, please make an appointment with me as

    soon as possible, or see me during office hours. Presidential Direction 97-03 requires that

    students with disabilities register with DRC (Disability Resource Center) to establish a record of

    their disability.”

    Academic Integrity

     “Your own commitment to learning, as evidenced by your enrollment at San Jose State University

    and the University’s integrity policy, require you to be honest in all your academic course work.

    Faculty members are required to report all infractions to the office of Student Conduct and Ethical

    development. The policy on academic integrity can be found at http://sa.sjsu.edu/student_conduct.

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    SAN JOSE STATE UNIVERSITY ACADEMIC INTEGRITY POLICY S04-12

The following is an excerpt from the SJSU Academic Integrity Policy S04-12. You are encouraged to

    read the whole document at http://www2.sjsu.edu/senate/S04-12.pdf.

The University emphasizes responsible citizenship and an understanding of ethical choices inherent in

    human development. Academic honesty and fairness foster ethical standards for all those who depend upon

    the integrity of the university, its courses, and its degrees. This policy sets the standards for such integrity

    and shall be used to inform students, faculty and staff of the university’s Academic Integrity Policy. The

    public is defrauded if faculty and/or students knowingly or unwittingly allow dishonest acts to be rewarded

    academically and the university’s degrees are compromised.

STUDENT ROLE

    It is the role and obligation of each student to:

    1. Know the rules that preserve academic integrity and abide by them at all times. This includes

    learning and following the particular rules associated with specific classes, exams and/or course

    assignments. Ignorance of these rules is not a defense to the charge of violating the Academic

    Integrity Policy.

    2. Know what the consequences of violating the Academic Integrity Policy will be, student’s appeal

    rights, and the procedures to be followed in the appeal.

    3. Foster academic integrity among peers.

FACULTY MEMBER ROLE

    It is the role and obligation of each faculty member to:

    1. Apprise classes of the Academic Integrity Policy and the ethical standards required in courses and

    the permissible procedures in class work and/or examinations. This information should be

    referenced in course syllabi (and other materials as appropriate).

    2. Make every reasonable effort to foster honest academic conduct. Specifically, examinations should

    be appropriately proctored or monitored to prevent students from copying, from using non-cited

    resources, or exchanging information. Examinations and answers to examination questions should

    be secured in such a way that students cannot have prior access to them. Efforts should be made

    to give unique and varied assignments.

    3. Take action against a student in accordance with this policy when the faculty member has

    supporting evidence that a student has violated the Academic Integrity Policy.

    4. Comply with the rules and standards of the Academic Integrity Policy.

    Tentative Schedule

The instructor reserves the right to revise this tentative schedule in order to enhance the

    achievement of learning objectives. Any revision will be announced in class and through e-mail. It

    is the student’s responsibility to be aware of all classroom discussions, assignments, and changes in course requirements.

    Week Date Readings and assignments Business plan 1 8/23 Course introduction Download business plan

     template from

    http://www.score.org/template

    _gallery.html 2 8/30 Ch. 1 Small business: its opportunities and Study a free business plan

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     rewards from www.bplans.com 3 9/6 Ch. 3 Small business entrepreneurs:

     Characteristics and competencies

    Ch. 4: Small business ideas: creativity,

    opportunity, and feasibility

    4 9/13 Ch. 8 Business plans: seeing audiences Introduction to business plan

     and your business clearly

    5 9/20 Ch. 2 Small business ethics: a key to long-Your business concept

     term success Choosing a business form

    Ch. 18 Legal issues: recognizing your small Protect your intellectual

    business needs property 6 9/27 Ch. 7 Small business strategies: imitation General company description

     with a twist SWOT analysis

     Product and services 7 10/4 Ch. 9 Small business marketing: product Marketing plan

     and pricing strategies

    Ch. 10 Small business promotion: Market trend analysis

    capturing the eyes of your market Customer analysis 8 10/11 Ch. 11 Small business distribution and

     location

    Ch. 12 Marketing plans: saying how you’ll

    get sales

    9 10/18 Mid-term examination

    10 10/25 Ch. 13 Small business accounting: Financial plan

     projecting and evaluating performance Startup expenses 11 11/1 Ch. 14 Cash: lifeblood of the business

     Ch. 15 Small business finance: using

    equity, debt and gifts

    12 11/8 Ch. 19 Human resource management Human resource plan

     Management and organization 13 11/15 Put together your business plan

14 11/22 Thanksgiving

15 11/29 Business plan presentation

16 12/6 Ch. 20 Achieving success in the small

     business

    Course review

Final examination: Tuesday, December 18, 12:15 14:30 pm

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    Internet Resources:

Textbook website

    www.mhhe.com/katzesb

Business Plan Pro

    www.bplans.com

BusinessWeek Online

    http://www.businessweek.com/smallbiz/index.html

California Business Portal

    http://www.calbusiness.ca.gov/default.asp

Entrepreneur Magazine

    www.entrepreneur.com

Ewing Marion Kauffman Foundation

    www.kauffman.org

National Federation of Independent Business, NFIB

    www.nfib.com

PBS Small Business School

    www.smallbusinessschool.org

Startupnation

    www.startupnation.com

SCORE

    www.score.org

SCORE business plan planning templates,

    http://www.score.org/template_gallery.html

US Small Business Administration in San Francisco

    http://www.sbaonline.sba.gov/ca/sf/

Visa Small Business Online Workshops

    http://usa.visa.com/business/resource_center/workshops.html?it=c|/business/index.html|Online%2

    0Workshops

Winning Workplaces

    http://www.winningworkplaces.org/

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