Sustainable Business Plans for Small to Medium Hospitality Enterprises

Programme Overview

Hospitality industry in Cyprus is booming. Strategy, planning and especially innovation are vital firm success factors and can be responsible for the performance and the growth of an organisation. The small and medium sized companies play valuable role in the economy, particularly in the current economic climate. The strategy covers all major aspects of the firm and through strategy all parts of company are compatible with each other and fit together well.

There are a number of reasons for the lack of strategy in small and medium sized companies. Although, strategic planning is vital ingredient in small and medium hospitality business development, their competitiveness and success. The owners of SMEs that engage in the strategic planning are likely to achieve higher growth and profit. It is important for SMEs owners to understand their points of potential innovation and differentiation and to re-create their vision and master plan that will lead them to realize their goals.

Designed for

  • Business Owners and CEOs of Small and Medium organisations in the hospitality sector
  • Chief Financial Officers
  • Directors and Senior Managers
  • Decision-Makers
  • Operational managers
  • Business development managers

Programme Focus

Introduction

  • Innovation and entrepreneurship in Hospitality Business
  • Full Contents of a Business Plan – Part I
  • Company Background
  • Business Model Canvas

Applications in Hospitality Business

  • Quality Management through Business Modelling
  • Exercise: Business Modelling in Hospitality Business

Full Contents of a Business Plan – Part II

  • Market Research Methodology, analysis and result Evaluation (PESTEL, SWOT, PORTER 5 Forces)
  • Business Strategy, Sales and Marketing for Hospitality Business
  • E-Business strategy and applications in Hospitality
  • Exercise: Short Case studies with brief consulting for error identification and problem solving for each of the three Chapters

Choosing the best Business Models and Strategies

  • Full Financial Planning, including principles, techniques, preparation of financial templates and calculations
  • Estimations in: Investment costs, Fixed Costs, Variable costs, Revenue expectations calculation techniques, Income statement, Break-Even Analysis, Cash Flows, Ratios Analysis.
  • Exercise: Case Study for Evaluation of the feasibility of a company.
  • Case Study for Identifying the Key elements in Financial Feasibility and Profitability.

Income Seasonality in Hospitality Business Financial Risks Analysis

  • Market Dangers
  • Business Model Adaptation
  • Risk Reduction techniques
  • Adapting the Business Model for achieving maximal profitability and maximum quality.

Creating an action plan

  • Prioritising ideas
  • Translating ideas to specific actions
  • Identifying timescales and responsibilities

Key Outcomes

  • Identify the market challenges and potential development and apply scientific as well as experiential techniques in order to create a short-list of the best ideas before designing their business plan.
  • Analyse the effectiveness of the strategic business plan in the hospitality sector, by using techniques that will allow them to see the full potential as well as the risks that could deviate them from achieving their goals.
  • Learn how to design the business model of the firm so as to be able to absorb the maximum revenues with a flexible, adaptable and financially viable structure, infrastructure and personnel.
  • Fully understand and learn how to use all the technological tools that will enable the business to optimize its operations and maximize its reach in terms of potential customers.
  • Include everything identified above in a fully detailed business plan, with different scenarios, structures and managerial models.

Benefits for you

  • Learn how to create and evaluate a sustainable business plan.
  • Learn how to optimize value for the firm.

Benefits for your organization

  • Understand the full potential of the business
  • Introduce the elements of innovation and competitive differentiation that could be applied
  • Design and implement the business plan so that the organisation become more profitable and competitive

Note: This programme includes 14 hours in-class training and a half-day private company consultation.

Details


Dates:
12 & 19 November 2019

Time:
8:30 – 17:00

Duration:
14 hours +4 hours private company consultation

Venue:
CIIM Limassol, 3-5 Chaidariou Str. (view map)

Language of Instruction:
English

Instructor:
Dr. Panayiotis Jacovides

Participation fees


VITAL programmes are fully subsidized by the HRDA

Fee: € 1,530

HRDA Subsidy*: € 1,530

Final Fee: € 0

*The programme has been approved by HRDA. Click here to find out more about HRDA and other special discounts

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The programme(s) you are applying for is approved by the HRDA - Human Resource Development Authority and participants who are registered as full-time employees in organisations which are listed in the Registrar of Companies of the Republic of Cyprus may be eligible to the programme's subsidy.

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Last updated: January 26, 2015

Please read these Terms and Conditions (“Terms”, “Terms and Conditions”) carefully before registering to our programmes (“programmes”) and accessing our online application form (the “Service”), both operated by the Cyprus International Institute of Management (“CIIM”, “Executive Education”, “us”, “we”, or “our”). Your access to the Service is conditioned on your very acceptance of and compliance with these particular Terms. Effectively, these terms apply to all visitors, users and others constituents (“you”, “your”, "persons", “customer”, “participant”, or “company”) who may demonstrate interest in our Service. By accessing this Service, you actually agree to be legally bounded by these Terms. In contrast, if you are in disagreement with these Terms and Conditions, we kindly advise you to exit this Service immediately.

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Cancellations must be received in writing. Cancellations received more than seven (7) days prior to a program’s start date will not incur penalties. On the other hand, for cancellations received less than seven (7) days prior to a program’s start date, you will incur a charge of 100 percent of the full tuition. In this case though, substitutions may be welcomed considering the service capabilities of CIIM. If a participant or a participating company fails to attend the programme they have applied for without any prior notification, even if a withdrawal occurs on or after a program start date, full tuition may be forfeited.

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Participants who would like to request a full refund for their participation, or need to transfer their participation to another CIIM programme, may be eligible to do so considering that the start date of the original programme is no less than seven (7) days. Requests to refunds received less than seven (7) days prior to the start date of the programme, will be forfeited. However, in this case though, transfers of registrations may be welcomed considering the service capabilities of CIIM. If a participant or a participating company fails to attend the programme they have applied for without any prior notification, even if a withdrawal occurs on or after a program start date, full tuition may be forfeited.

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The Human Resource Development Authority (HRDA) provides a subsidy i.e. partial or full tuition coverage, to organisations participating with their employees in the Authority's programmes, only if they can meet the Authority's criteria. In order to confirm your eligibility to participate in the Authority's programmes, we provide you with the Authority's programme form for which you need to return to CIIM fully completed. If for whatever reason, the HRDA refuses to provide a subsidy for your attendance to our programmes, you and your company will be liable to immediately reimburse CIIM with the gross fees, which were supposed to be covered by the HRDA subsidy. If you fail to meet your legal costs to CIIM, we reserve the right to proceed with legal actions for damages.

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Telephone: +35722462246
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