ASSIGNMENT COVER SHEET
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MNG93003 Industry Research Project Assignment-Southern Cross University Australia.
Declaration:
I have read and understand the Rules Relating to Awards Rule 3 section 18-Academic Misconduct Including Plagiarism as contained in the SCU Policy Library. I understand the penalties that apply for plagiarism and agree to be bound by these rules. The work I am submitting electronically is entirely my own work.
Report Title:
“Investigating the hotel management financial competencies with the focus on cost and revenue management”
Field of study:
The field of study will be finance where the aspects of cost and revenue
will be investigated and the meaningful conclusion will be taken out from
the research.
Overarching problem:
The financial aspect plays the important role because it works towards
increasing the health and position of the company therefore the study will
focus on financial aspect that are cost and revenue. Thus it will make the
organisation and the business profitable.
MNG93003 Industry Research Project Assignment-Southern Cross University Australia.
It is important to work on the cost and the revenue aspects in the hotel
management to see the financial position because in the business growth
should be attained to gain the competitive advantage and it is possible
with the help of strong financial performance.
Project (Research) aim:
The aim of the study is to find the hotel management financial
competencies and importance to the cost and revenue aspect will be given
because most of the people in the hotel industry are hired from the
business administration stream and they have lack of knowledge in the
hospitality industry. This is affecting the profits and therefore the study
will be conduct to get the growth and development by raising the financial
performance.
Research questions(s):
1.What are the types of the financial competencies are needed to
manage the cost and revenue in the hotel management?
2.What are the general competencies that are required in the hotel
management industry expect the financial competencies?
3.What is the importance of pre identified financial competencies in
the hotel management?
MNG93003 Industry Research Project Assignment-Southern Cross University Australia.
Literature review: Keywords used for literature search
Following are the key words that will be used for literature review:
- Competencies required in the hospitality managers
- Use of general competencies model
- Financial competencies required in the hospitality managers
- The deviation among the Education and hospitality industry
- Development of financial competency in the hotel management
- Core financial areas that impacts hotel management
- Financial aspects under cost and revenue competences
- Revenue competencies with revenue and price management
- Cost competencies by cost control
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