Finance for Everyone! SMART Tools for Financial Decision Making in Hospitality Businesses
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Financial decisions are not restricted to finance and accounting professionals in today’s hospitality firms. Every manager who makes decisions involving the firm’s money is making financial decisions. And knowing how to use financial tools and perspectives allows everyone to make sound decisions and smart choices. In this course participants develop a set of intuitive financial tools to improve financial decision-making across a wide range of hospitality business contexts. (Note: this is a critical-thinking finance course, not a math-intensive course.)
Participants will learn how to think clearly about important financial decisions facing hospitality managers. The only prerequisites are curiosity and a genuine interest in considering the financial side of decision-making (no advanced math required). Managers will develop powerful financial intuitions by examining real-world hospitality business decisions through the lens of practical financial techniques.
- Frameworks for financial decision-making
- Applying time value of money to common business decisions
- The power of compounding in strategic decisions
- The crucial role of sunk costs and opportunity costs in decision making