Study Guide

Objective

Responsible Tourism and Experience Management
Creating Experiences in an Event (project)
The student gets a holistic approach to a tourism company´s strategic management as a long-term key business process which aims at responsible, future-oriented and high quality as well as competitive and profitable business performance. He/she deepens his/her understanding and knowledge on management accounting e.g. profitability planning, budgeting, investment calculations and acquiring (external) funding. As a result, the student knows how to apply various strategic business development tools in order to improve long-term business planning towards `Business Excellence` within the experience economy.

Content

Tieto puuttuu

Location and time

Lectures are organised in classrooms.

Materials

The list of the reading materials is updated on yearly basis. Each student will familiarise oneself in approx. 10 book chapters/journal articles in addition to other materials, e.g. lecture and/or web-based materials during the study unit.
Evans, .N. – Campbell, D. – Stonehouse, G. 2003. Strategic Management for Travel and Tourism. Oxford: Elsevier. Chapter 1 Strategy and Strategic Objectives for Travel and Tourism Organizations (in Part One) and one case of your choice (presented in Part Six)
Murphy, P. E. – Murphy, A. E. 2004. Strategic Management for Tourism Communities: Bridging the Gaps. Clevedon: Channel View. Chapter 3 Planning (in Part 2)
Tribe, J. 2010. Strategy for Tourism. Oxford: Goodfellow Publishers. Chapters 1 Introduction to Strategy and 2 Mission and Purpose (in Part 1)
Gelter, H. 2010. Total Experience Management – a conceptual model for transformational experiences within tourism. Conference proceedings The Nordic Conference on Experience 2008. Research, Education and Practice in Media 46-78.
Lee, J. et al. 2014. Enablers of top management team support for integrated management control systems innovations. International Journal of Accounting Information Systems 15, 1-25.
Lubin, D.A. – Esty D.C. 2010. The Sustainable Imperative: Lessons for Leader from Previous Game-Changing Megatrends. Harvard Business Review, May, 42-50.
Papalexandris, A. et al. 2005. Integrated Methodology for Putting the Balanced Scorecard into Action European Management Journal 23, 214–227.
Porter M. E. – Kramer M.R. 2006. Strategy & Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, December, 78-92.
Sentürk, F. K. 2012. A Study to Determine the Usage of Strategic Management Tools in the Hotel Industry. Procedia Social and Behavioral Science 58, 11 – 18.
Sozuer, A. 2011. Self-assessment as a gate to performance improvement: A study on hospitality management in Turkey. Procedia Social and Behavioral Science 24, 1090 – 1097

Teaching methods

The utilised pedagogical approach includes various pedagogical methods, such as lectures, visiting lecturers, visits to destinations and/or to tourism organizations, practical projects and learning assignments and/or an exam. The specified timetable of the learning process of approximately eleven weeks is planned together with the working life and given at the beginning of the study unit. Tutoring and multi- stakeholder assessment of the learning process take place throughout the study unit according to the assessment criteria.
The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS.
Depending on the cooperation partners the development task and/or problem may vary on yearly basis.
The student gets a holistic approach to a tourism company´s strategic management as a long-term key business process which aims at future-oriented, responsible and high quality as well as profitable business performance. He/she deepens his/her understanding and knowledge on strategic planning as well as on financial issues. As a result the student knows how to apply various business development and assessment tools in order to improve strategic business operations towards `Business Excellence` in experience economy.
The student:
- knows the basic goals, phases and tools of strategic planning as part of strategic management business process from responsible tourism point of view
- understands the role of foresight, total quality management and corporate social responsibility in the strategic planning and learns to apply related development and assessment tools to promote long-term business planning and strategic management from responsible experience economy perspective
- knows how to use Business Model Canvas (BMC) Balanced Score Card (BSC) as strategic tools
-is a ble to read and analyse financial statements and operations of a company in order to produce information for strategic and financial decisions
- is able to do profitability planning; short-, mid- and long term budgeting and investment calculations
- knows how to acquire (external) funding

Employer connections

The students gain a comprehensive understanding of the global and international operating environment in which tourism companies in Finnish Lapland operate. Furthermore, the financial statements belong to tourism companies in Finnish Lapland. As a result, when assessing financial statements, students will face real-life situations, and the co-created strategic plans will be based on these assessments. The financial statements, however, are anonymised.

Content scheduling

The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS. The different parts can be also studied separately.

Further information

The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS. The different parts can be also studied separately.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

These are the general assessment criteria. Please note that there might be more specific assessment criteria for learning assignments which will be given at the beginning of the study unit.

Fail (0)
The student does not complete the assignments according to instructions or does not attend the learning situations at all. He/she does not pass the assignments and/or the exam as required.

Poor (1)
The student has vague knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs a lot of assistance in performing profitability planning, budgeting and investment calculations and has limited skills to read and analyse financial statements. The student has manifold difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very passively and has no analytical, reflective and critical approach in all his/her activities. The student has many challenges in performing the assignments according to the instructions.

Satisfactory (2)
The student has satisfactory knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs assistance in performing profitability planning, budgeting and investment calculations and can read and analyse financial statements on a satisfactory level. The student has some difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons rather passively and shows vague analytical, reflective and critical approach in all his/her activities. The student has challenges in performing the assignments according to the instructions.

Assessment criteria, good (3)

Good (3)
The student has good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations with some extra instructions and can read and analyse financial statements well. The student knows mostly how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons quite actively and shows somewhat analytical, reflective and critical approach in all his/her activities. Most of the assignments are performed according to the instructions.

Very good (4)
The student has very good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations mostly independently. In addition, he/she can read and analyse financial statements in a very good manner. The student knows very well how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons actively and shows good analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

Assessment criteria, excellent (5)

Excellent (5)

The student has profound and excellent understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations independently. In addition, he/she can fully read and analyse financial statements. The student knows in an excellent manner how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very actively and shows deep analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

Assessment methods and criteria

Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS are assessed separately based on the topics introduced below:
The student:
Part A:
- knows the basic goals, phases and tools of strategic planning as part of strategic management business process from responsible tourism point of view
- understands the role of foresight, total quality management and corporate social responsibility in the strategic planning and learns to apply related development and assessment tools to promote long-term business planning and strategic management from responsible experience economy perspective
- knows how to use Business Model Canvas (BMC) Balanced Score Card (BSC) as strategic tools

Part B:
-is a ble to read and analyse financial statements and operations of a company in order to produce information for strategic and financial decisions
- is able to do profitability planning; short-, mid- and long term budgeting and investment calculations
- knows how to acquire (external) funding

Assessment criteria, fail (0)

Fail (0)
The student does not complete the assignments according to instructions or does not attend the learning situations at all. He/she does not pass the assignments and/or the exam as required.
These are the general assessment criteria. Please note that there might be more specific assessment criteria for learning assignments which will be given at the beginning of the study unit.

Assessment criteria, satisfactory (1-2)

Satisfactory (2)
The student has satisfactory knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs assistance in performing profitability planning, budgeting and investment calculations and can read and analyse financial statements on a satisfactory level. The student has some difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons rather passively and shows vague analytical, reflective and critical approach in all his/her activities. The student has challenges in performing the assignments according to the instructions.
Poor (1)
The student has vague knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs a lot of assistance in performing profitability planning, budgeting and investment calculations and has limited skills to read and analyse financial statements. The student has manifold difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very passively and has no analytical, reflective and critical approach in all his/her activities. The student has many challenges in performing the assignments according to the instructions.

Assessment criteria, good (3-4)

Very good (4)
The student has very good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations mostly independently. In addition, he/she can read and analyse financial statements in a very good manner. The student knows very well how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons actively and shows good analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.
Good (3)
The student has good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations with some extra instructions and can read and analyse financial statements well. The student knows mostly how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons quite actively and shows somewhat analytical, reflective and critical approach in all his/her activities. Most of the assignments are performed according to the instructions.

Assessment criteria, excellent (5)

Excellent (5)
The student has profound and excellent understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations independently. In addition, he/she can fully read and analyse financial statements. The student knows in an excellent manner how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very actively and shows deep analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

Qualifications

NULL

Objective

Responsible Tourism and Experience Management
Creating Experiences in an Event (project)
The student gets a holistic approach to a tourism company´s strategic management as a long-term key business process which aims at responsible, future-oriented and high quality as well as competitive and profitable business performance. He/she deepens his/her understanding and knowledge on management accounting e.g. profitability planning, budgeting, investment calculations and acquiring (external) funding. As a result, the student knows how to apply various strategic business development tools in order to improve long-term business planning towards `Business Excellence` within the experience economy.

Content

Tieto puuttuu

Location and time

Lectures are organised online at least till week 42. Workshops and lectures may be organised face-to-face if COVID-19 situation it allows.

Materials

The list of the reading materials is updated on yearly basis. Each student will familiarise oneself in approx. 10 book chapters/journal articles in addition to other materials, e.g. lecture and/or web-based materials during the study unit.
Evans, .N. – Campbell, D. – Stonehouse, G. 2003. Strategic Management for Travel and Tourism. Oxford: Elsevier. Chapter 1 Strategy and Strategic Objectives for Travel and Tourism Organizations (in Part One) and one case of your choice (presented in Part Six)
Murphy, P. E. – Murphy, A. E. 2004. Strategic Management for Tourism Communities: Bridging the Gaps. Clevedon: Channel View. Chapter 3 Planning (in Part 2)
Tribe, J. 2010. Strategy for Tourism. Oxford: Goodfellow Publishers. Chapters 1 Introduction to Strategy and 2 Mission and Purpose (in Part 1)
Gelter, H. 2010. Total Experience Management – a conceptual model for transformational experiences within tourism. Conference proceedings The Nordic Conference on Experience 2008. Research, Education and Practice in Media 46-78.
Lee, J. et al. 2014. Enablers of top management team support for integrated management control systems innovations. International Journal of Accounting Information Systems 15, 1-25.
Lubin, D.A. – Esty D.C. 2010. The Sustainable Imperative: Lessons for Leader from Previous Game-Changing Megatrends. Harvard Business Review, May, 42-50.
Papalexandris, A. et al. 2005. Integrated Methodology for Putting the Balanced Scorecard into Action European Management Journal 23, 214–227.
Porter M. E. – Kramer M.R. 2006. Strategy & Society: The Link Between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, December, 78-92.
Sentürk, F. K. 2012. A Study to Determine the Usage of Strategic Management Tools in the Hotel Industry. Procedia Social and Behavioral Science 58, 11 – 18.
Sozuer, A. 2011. Self-assessment as a gate to performance improvement: A study on hospitality management in Turkey. Procedia Social and Behavioral Science 24, 1090 – 1097

Teaching methods

The utilised pedagogical approach includes various pedagogical methods, such as lectures, visiting lecturers, visits to destinations and/or to tourism organizations, practical projects and learning assignments and/or an exam. The specified timetable of the learning process of approximately eleven weeks is planned together with the working life and given at the beginning of the study unit. Tutoring and multi- stakeholder assessment of the learning process take place throughout the study unit according to the assessment criteria.
The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS.
Depending on the cooperation partners the development task and/or problem may vary on yearly basis.
The student gets a holistic approach to a tourism company´s strategic management as a long-term key business process which aims at future-oriented, responsible and high quality as well as profitable business performance. He/she deepens his/her understanding and knowledge on strategic planning as well as on financial issues. As a result the student knows how to apply various business development and assessment tools in order to improve strategic business operations towards `Business Excellence` in experience economy.
The student:
- knows the basic goals, phases and tools of strategic planning as part of strategic management business process from responsible tourism point of view
- understands the role of foresight, total quality management and corporate social responsibility in the strategic planning and learns to apply related development and assessment tools to promote long-term business planning and strategic management from responsible experience economy perspective
- knows how to use Business Model Canvas (BMC) Balanced Score Card (BSC) as strategic tools
-is a ble to read and analyse financial statements and operations of a company in order to produce information for strategic and financial decisions
- is able to do profitability planning; short-, mid- and long term budgeting and investment calculations
- knows how to acquire (external) funding

Content scheduling

The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS. The different parts can be also studied separately.

Further information

The study unit will be organised in two separate parts: Part A: Strategic Management 5 ECTS and Part B: Managerial/Management Accounting 5 ECTS. The different parts can be also studied separately.

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

These are the general assessment criteria. Please note that there might be more specific assessment criteria for learning assignments which will be given at the beginning of the study unit.

Fail (0)
The student does not complete the assignments according to instructions or does not attend the learning situations at all. He/she does not pass the assignments and/or the exam as required.

Poor (1)
The student has vague knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs a lot of assistance in performing profitability planning, budgeting and investment calculations and has limited skills to read and analyse financial statements. The student has manifold difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very passively and has no analytical, reflective and critical approach in all his/her activities. The student has many challenges in performing the assignments according to the instructions.

Satisfactory (2)
The student has satisfactory knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs assistance in performing profitability planning, budgeting and investment calculations and can read and analyse financial statements on a satisfactory level. The student has some difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons rather passively and shows vague analytical, reflective and critical approach in all his/her activities. The student has challenges in performing the assignments according to the instructions.

Assessment criteria, good (3)

Good (3)
The student has good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations with some extra instructions and can read and analyse financial statements well. The student knows mostly how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons quite actively and shows somewhat analytical, reflective and critical approach in all his/her activities. Most of the assignments are performed according to the instructions.

Very good (4)
The student has very good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations mostly independently. In addition, he/she can read and analyse financial statements in a very good manner. The student knows very well how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons actively and shows good analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

Assessment criteria, excellent (5)

Excellent (5)

The student has profound and excellent understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations independently. In addition, he/she can fully read and analyse financial statements. The student knows in an excellent manner how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very actively and shows deep analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.

Assessment methods and criteria

Excellent (5)
The student has profound and excellent understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations independently. In addition, he/she can fully read and analyse financial statements. The student knows in an excellent manner how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very actively and shows deep analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.
Very good (4)
The student has very good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations mostly independently. In addition, he/she can read and analyse financial statements in a very good manner. The student knows very well how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons actively and shows good analytical, reflective and critical approach in all his/her activities. All the assignments are performed according to the instructions.
Good (3)
The student has good understanding and knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student is able to do profitability planning, budgeting and investment calculations with some extra instructions and can read and analyse financial statements well. The student knows mostly how to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons quite actively and shows somewhat analytical, reflective and critical approach in all his/her activities. Most of the assignments are performed according to the instructions.
Satisfactory (2)
The student has satisfactory knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs assistance in performing profitability planning, budgeting and investment calculations and can read and analyse financial statements on a satisfactory level. The student has some difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons rather passively and shows vague analytical, reflective and critical approach in all his/her activities. The student has challenges in performing the assignments according to the instructions.
Poor (1)
The student has vague knowledge of strategic management as well as of management accounting which aims at competitive and profitable business performance of a tourism SME in a responsible way. The student needs a lot of assistance in performing profitability planning, budgeting and investment calculations and has limited skills to read and analyse financial statements. The student has manifold difficulties to apply various strategic business development tools in order to improve strategic business planning towards `Business Excellence`. The student participates in the contact lessons very passively and has no analytical, reflective and critical approach in all his/her activities. The student has many challenges in performing the assignments according to the instructions.
Fail (0)
The student does not complete the assignments according to instructions or does not attend the learning situations at all. He/she does not pass the assignments and/or the exam as required.
These are the general assessment criteria. Please note that there might be more specific assessment criteria for learning assignments which will be given at the beginning of the study unit.

Qualifications

NULL