The Most Versatile Course, Hospitality Management

                                  The Most Versatile Course, Hospitality Management

                                                                         Vijayan Aravind - XII MIPA 2

Hospitality is an interaction or an act of service. It’s the friendly and generous reception of guests, visitors, or strangers (Naples, 2019). The goal is to provide customers with an enjoyable experience. Meanwhile, management is getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. (Adam, 2020). Do you know what happens if the two fields intertwine with each other? Have you ever heard of hotel management? Do you why hospitality management is versatile? Furthermore, I'll be explaining the meaning of the Hospitality Management course and why it is one of the most versatile course.

 

Hospitality management involves applying management concepts and valuable administrative skills in the various areas of hospitality. Worldwide, the hospitality industry is among the largest, most lucrative, rewarding, and fastest-growing industries (AGCAS, 2021). Firstly, it’s important to know what hospitality management is all about. It involves overseeing the daily administrative, operational, and commercial tasks of businesses like hotels, resorts, restaurants, catering establishments, shops, casinos, amusement parks, and other related businesses (AHA, 2021). With that said, hospitality management is an umbrella term that covers various industries such as food and beverage, travel and accommodation, and event management. The departments under a hospitality manager’s stewardship may range from maintenance and housekeeping to spa services, concierge, reception, and many more. When you work in hospitality management, your goal as a manager is to provide customers with an enjoyable experience. Whether that enjoyment comes from eating a good meal, relaxing in a luxurious spa, getting a good night's rest away from home, or making sure each guest is taken care of is paramount. Hospitality skills are known for their transferable nature into other industries due to the unique blend of business insight customer-facing skills acquired. Studying for a degree in hospitality management opens up your career prospects to a large breadth of different industries, including entertainment, luxury, food and beverage, health and wellness, technology, business management, and hotels.

 

Hospitality management is a major part of the hospitality industry which in most cases requires a degree either from a university, a college, or a short course online. Formal training in hospitality management is necessary because it opens up to all the aspects of the hospitality industry and the technicalities of the profession. Some of the careers that you can explore in the Hospitality industry include Hotel Administration, Hotel and Tourism Management, or Hotel Management (EHL Insight, 2021). Some places where hospitality managers can work include restaurants, hotel reservation agencies, parks, convention centers, destination marketing organizations, and lots more. Hospitality management can sometimes be confused with hotel management, mainly because they share similar academic requirements and are both parts of the travel and tourism industry. However, there are some prime differences between the two sectors.

 

The main difference between hotel management and hospitality management is hotel management covers all aspects of managing a hotel. Meanwhile, hospitality management is a broader term that deals with people management in sectors, such as nightclubs, casinos, restaurants, transportation, and even hotels. A difference can also be spotted in each field's responsibilities. The primary responsibility of hotel management is to ensure guests enjoy a pleasant stay at their hotel. It involves taking care of them from the moment they check in to the moment they check out. Every single activity of the guest has to be outstanding to ensure their visit is worth their money (IM&H, 2020). Departments such as the front desk, travel desk, housekeeping, concierge, room service, guest service, etc are all the responsibilities of a hotel manager. Similar to hotel management, hospitality management also includes taking care of guests. For example, hospitality managers in large organizations are responsible for meeting and greeting foreign delegates and ensuring they have everything they need for a successful visit (Taylor, 2019). Both fields, hospitality or hotel management, have properties that are determined by their location and their services. Understanding the local market is the key to success and requires an entrepreneurial mindset to succeed (AHA, 2021).

 

Being widely encouraged and taught, entrepreneurship is considered to be essential for a sustainable economy. Hospitality management offers aspiring entrepreneurs a rare opportunity to combine practical and theoretical education known as a dual education model  (IM&H, 2020). It sets you up for entrepreneurial success by strengthening the essential hard and soft skills. It is also worth noting that the hospitality industry is loved by investors, too. Having withstood the financial recession so well, the industry gained a reputation of a secure investment. A hospitality management degree can be an excellent background for those with unique business ideas, willing to innovate and grow even without proper entrepreneurship skills.

 

In a conclusion, the hospitality management course is desirable for those who have an entrepreneurial mind, spirit, and big dreams. Even without being an entrepreneur, graduating from a hospitality management course can also offer a lot of jobs like a manager, an event planner, chef, financial or accounting roles, marketing sales, and media roles. Therefore, someone with a hospitality management degree may have a lot of choices and options to choose from, due to its versatility.

 

Reference

Ø Naples. (2021). SERVICE VS HOSPITALITY: WHAT'S THE DIFFERENCE AND WHY IT MATTERS: https://www.napleshotelgroup.com/article/service-vs-hospitality-whats-difference-matters

Ø AGCAS. (2021). What can I do with hospitality management degree?: https://www.prospects.ac.uk/careers-advice/what-can-i-do-with-my-degree/hospitality-management

Ø AHA. (2021). What is Hospitality and Why is it so Improtant?: https://www.ahaworldcampus.com/b/what-is-hospitality

Ø IM&H. (2021). Entrepreneurship in Hospitality: https://swissimh.ch/entrepreneurship-in-hospitality/

Ø Taylor. (2019). What is Hospitality Management? https://hospitalityinsights.ehl.edu/hospitality-management 

 

What does it take to become a Future Leader?

 What does it take to become a Future Leader?

Gabriela A.V/12 Science 2

Business and Management courses have been one of the most sought majors by the students throughout the year. Many students decided to attend the business and management courses because it is indeed one of the most popular majors in university. It also provides a wide range of job opportunities for the students who have graduated with this degree. It’s because there is a lot of job offer that require employees with business and management degrees. But that is not the only intake in taking this course, business and management course right here has constantly enhanced each of their students in becoming the leader, not just the employee. Therefore, from the business and management course major, a lot of future leaders will be born.

This Major has always been the popular choice among the other majors chosen by the students. It is popular because there are a lot of students that aspire to become an entrepreneur or business leaders. For aspiring entrepreneurs and business leaders, a business management degree is consistently a popular choice. It provides the academic knowledge and skills to pursue global career opportunities and helps them in developing a broad understanding of businesses and specific areas such as finance and human resources. Students will gain an overall view of entrepreneurial activity and explore different ways to approach entrepreneurship. They will also learn how to consider financial and institutional systems in supporting entrepreneurship in different economies and gain an analytical framework for understanding different approaches to entrepreneurial cultures. “Business and Management course has inspired positive change in business and society, individuals and organizations, locally and globally by delivering impactful research and classes which promote a global and digital mindset for the future of business.” (T, 2021) Business and management courses allow their students to explore how organizations of all sizes start, run and thrive. Throughout the year this course has been training its students in becoming future leaders. It has provided each student the rundown on becoming the future leaders of the world economy. The students got nurture to become an entrepreneur, that will hold the economy in their hands. (T, 2021) (Kingston University London, 2020)

Entrepreneurs are known as future leaders. But what exactly are an entrepreneur and its relation to entrepreneurship?

In brief, an entrepreneur is someone who first initiates a product or business idea and thus is the leader of that in the market. Entrepreneurs are the pioneers and innovators who often build businesses from scratch, or work within their organizations to create new opportunities. “An entrepreneur is an individual who conceives a unique idea or concept to start an enterprise and brings it into reality, creates a new business, bearing most of the risks and uncertainties of the business and enjoying most of the rewards.” (Hayes, 2021) An entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business or procedures. The people who will become Future Leaders in the world economy are those people who set up businesses with the aim of making profits. They are the ones who will always lead the market because no matter how many competitors come in the future, their position will remain untouched. The venture established by the entrepreneur is known as Startup Company, which is formed for the very first time regarding the idea, innovation, or business process. That helps them realize their idea, known as entrepreneurship, which aggregates capital and labor to produce goods or services for profit. (Ferreira, 2020) (Hayes, 2021)

While entrepreneurship itself is the act and process of creating and setting businesses while building and scaling them to generate a profit. (Hayes, 2021) Entrepreneurship is about pursuing opportunities beyond the resources that people have at hand. Entrepreneurship is highly risky but also can be highly rewarding, as it serves to generate economic wealth, growth, and innovation. In the world of economy, an entrepreneur is considered as the most important factor of production, which assembles and mobilizes the other three factors of production which are land, labor, and capital. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market. Entrepreneurs are known for their creative approach. They introduce innovation and coordinate the resources. They offer such products and services which bring about a change in the world. Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities but for those entrepreneurship that fails results in losses and less prevalence in the markets for those involved. (Kingston University London, 2020) (Hayes, 2021)

Hence, for those students that are still in confusion about choosing their college major, why not consider the Business and Management course as their chosen major. Business and Management courses have proved that they are worthy of their popularity as one of the most chosen majors by the students each year. The major itself has given the students a lot of opportunities in becoming the best version of themselves. They develop the students into becoming a worthy leader, the ones that will hold the economy in their hands. So, why become an employee if you can become your own leader by simply learning business and management courses. Go and get yourself the best version of yourself, the one person you can be proud of which is a worthy leader.

References

Ferreira, N. M. (2020, 9 2). WHAT IS ENTREPRENEURSHIP? ENTREPRENEUR DEFINITION AND MEANING. Retrieved from OBERLO: https://id.oberlo.com/blog/what-is-entrepreneurship

Hayes, A. (2021, 2 26). Entrepreneur. Retrieved from investopedia: https://www.investopedia.com/terms/e/entrepreneur.asp

Kingston University London. (2020, 5 12). 5 benefits of studying business management. Retrieved from Kingston University London: https://www.kingstonisc.com/blog/categories/study-abroad/5-benefits-of-studying-business-management

S, S. (2018, 7 26). Difference Between Businessman and Entrepreneur. Retrieved from Key Differences: https://keydifferences.com/difference-between-businessman-and-entrepreneur.html

T, L. (2021, 7 21). Why Study Business? Retrieved from TopUniversities: https://www.topuniversities.com/courses/business-management-studies/why-study-business

 

The Value of Business VS Finance in Life

 THE VALUE OF BUSINESS VS FINANCE IN LIFE

Jenifer Tjhinlesky – 12 Science 2

The world economy has started since we were born. There are 582 million entrepreneurs in the world in 2020 (MARKINBLOG, 2020). That is, many already know the strategy to start a business and develop it. As we know, starting a business is not easy, let alone starting with minimal capital. Starting a business is no longer easy, let alone developing it, it takes skill in many ways to become a leader of a business. Therefore, we need a good learning innovation for the next generation in order to become good and true business leaders. Maybe there will be many questions that will arise when choosing a college major that is suitable for future problems such as, is studying economics necessary? What does it take to start a business?

Sometimes many think that business does not need to be studied because it can be done self-taught. That statement is of course wrong because there are many theories that must be studied to understand the details in creating/developing a business. Economic business is not only aimed at making profits continuously. Experience, social relations, trends, etc. are needed in conquering a business. Therefore, we should not underestimate business economics learning. Economics studies can develop a wide range of analytical and critical thinking skills, which opens up many diverse career opportunities. Economic analysis can help us hone our skills in understanding and influencing today's policy debates. Studying material in economics prepares you for a career not only in business, banking, government, and financial transactions, but also in areas such as urban planning, international development and education. An economics degree is also excellent preparation for postgraduate study in law, business, economics, government, public administration, environmental studies, health care administration, labor relations, global studies, diplomacy, and other fields. Not only in development, the economy is at the heart of many of the social problems facing the world, including unemployment, inflation, poverty, pollution, health care, human rights, and gender and racial inequalities. An effective solution to this problem is an in-depth introduction to economics.

A degree in business or finance can lead to opportunities in organizations large and small in public and private. Both degrees also provide a solid foundation and are good preparation for entrepreneurs looking to start their own business. Both degrees involve a significant amount of basic mathematics as well as accounting, statistics, economics, and business law. A business or bachelor's degree in finance is considered sufficient preparation for many entry-level jobs such as those in the commercial banking, money management, real estate, and investment banking sectors. However, finance and business operate on the same financial principles. There is still a need to make money, save funds, find profitable investments and develop and protect your assets. In studying business and finance, we can balance income and expenses. We can ensure that there is a balance between the money coming in and the amount being sent by studying business and finance. To match short-term and long-term goals, we can also study business and finance. We can ensure that our short-term goals support our plans for the long-term future. The same goes for personal finances when we save money now as an investment for our retirement years. A business is not possible without finance and nor is running a financial institution without being a business.

There are 3 business terms every entrepreneur should know: marketing, finance and business. Each of these terms helps entrepreneurs in knowing how to handle their business more effectively. The term is the pillar of a building (business). The building can stand upright without supporting pillars, but the existence of these pillars guarantees that the building will not easily collapse. But there are still many people who do not know the difference between business and finance so many people choose the wrong major in both majors. A degree in business administration or finance can lead to opportunities in organizations large and small in the public and private sectors. Both degrees also provide a solid foundation and are good preparation for entrepreneurs looking to start their own business. The main objective of a business is to create a legally supported organization that operates by selling goods and/or services. To start a business, one must have a relationship with a law to get a legal basis for his business. Having a legal basis means that the business is legal, has a government-issued work permit, and that its products are approved by the food and beverage safety board or department of commerce and industry of the country in which it operates. While finance is the study of how individuals/groups earn, save, and spend money in a certain period of time. Finance has to do with two factors: money and time. This relates to research that describes how people save for future expenses, or how people spend their money. In particular, finance majors must have a more complex mathematical background. A solid understanding of algebra will become increasingly important as students’ progress in finance.

In the end, we ourselves will determine the choice of majors in our hands. A business that studies commercial, industrial or professional activities and is a company that offers goods or services for an amount of money. On the other hand, finance is just a part of the business. The study of how investors allocate their assets over time. Although this economy looks easy, we should not underestimate the study of business/finance so that we can have a solid foundation in carrying out our work. Even all jobs require the business and finances that underlie their own work in order to be organized. Future economic growth is in our hands, we will determine how the economy of our next generation will be. Therefore, a good business/economic study is needed so that a balance between the community and entrepreneurs emerges. New ideas are needed from prospective successful entrepreneurs who understand the world of finance and business so that the future of our economy can be better.

Bibliography

Connecticut, U. o. (2021). Why Study Economics? . Retrieved from econ.uconn.edu: https://econ.uconn.edu/econ/#

Pettinger, T. (2019, November 18). Importance of economics in our daily lives . Retrieved from economicshelp.org: https://www.economicshelp.org/blog/1974/economics/importance-of-economics-in-our-daily-lives/

Tahlia. (2020, November 8). The Similarities and Difference Between Business and Personal Finance . Retrieved from etalia.net: https://etalia.net/the-similarities-and-difference-between-business-and-personal-finance/

Misamore, B. (2019, October 8). 6 WAYS UNDERSTANDING FINANCE CAN HELP YOU EXCEL PROFESSIONALLY . Retrieved from online.hbs.edu: https://online.hbs.edu/blog/post/6-ways-understanding-finance-can-help-you-excel-professionally

London, K. U. (2020, May 12). 5 benefits of studying business management . Retrieved from kingstonisc.com: https://www.kingstonisc.com/blog/categories/study-abroad/5-benefits-of-studying-business-management

Celine. (2017, June 7). Difference Between Business and Finance . Retrieved from differencebetween.net: http://www.differencebetween.net/business/finance-business-2/difference-between-business-and-finance/

DAUGHERTY, G. (2020, September 24). Business Administration vs. Finance Degree: Comparing the Differences . Retrieved from investopedia.com: https://www.investopedia.com/articles/personal-finance/030515/business-administration-vs-finance-degree.asp

Brooks, A. (2020, October 2). Marketing vs. Finance: Which Degree Is Right for Me? . Retrieved from rasmussen.edu: https://www.rasmussen.edu/degrees/business/blog/marketing-vs-finance/

Business, finance and accounting concept. (2020). Retrieved from dreamstime.com: https://www.dreamstime.com/stock-illustration-business-finance-accounting-concept-creative-abstract-mobile-office-stock-exchange-market-trading-statistics-financial-image51946471