Florida International University

School of Hospitality and Tourism Management

COURSE SYLLABUS
Entrepreneurship in the Hospitality and Tourism Industry
HFT 4292C
Spring 2009
Professor Robert H. Hacker

Office:na
Office Hours: After class
Phone: (305) 742-8222
Blog: sophisticatedfinance.typepad.com
E-mail: rhhfla@mindspring.com
Web Course Materials:
http://sophisticatedfinance.typepad.com

COURSE DESCRIPTION
The course is an overview and introduction to the key disciplines required for an
entrepreneur to successfully build and manage a growing business. The course takes a
practical approach to developing an understanding of business management and requires
the student to independently develop much of their theoretical understanding of
accounting and finance. While not a finance course, concepts in finance, accounting,
microeconomics and international business will be used frequently to achieve course
objectives. The course reflects the instructors views based on 30 years of business
experience, and all topics discussed will be considered in the context of strategic planning, capital
management, HR and IT. Guest lecturers who are practitioners in selected fields
may be used.

A key part of the course is for each team of students to develop a plan to turn around the
slowing sales of Starbucks, based on concepts developed in the course. This paper is in
lieu of a final exam.

The course makes use of three HBS cases as a means to further develop the students’
understanding of the most important concepts in the course. Each case requires the
student to prepare a paper analyzing certain key factors.

COURSE OBJECTIVES
-to develop an understanding of the multi-disciplined approach required to successfully
manage a growing business
-to learn and apply a variety of tools and concepts including business concept
development, strategic planning, and cash flow management to business plan
development
-to learn to prepare a financeable business plan
LEARNING OUTCOMES
-to develop the skills necessary to prepare a professional business plan
-to learn to apply strategic planning to business development
-to self-assess one’s entrepreneurial potential

Student Learning Outcomes will be measured based on the 6 written assignments and
classroom participation.
COURSE PRE-REQUISITES / CO-REQUISITES
Some knowledge of accounting, preferably gained at the university level
TEXTBOOK & OTHER REQUIRED MATERIAL
Required Text:

1. Competition and Entrepreneurship by Israel Kirzner

2. Competitive Strategy: Techniques for Analyzing Industries and Competitors by Michael
E. Porter
These books are available from most on-line websites for books and through the campus
bookstore. Any edition is suitable.

COURSE PROCEDURES/METHODOLOGY
Course Outline
Topics to be covered include:

•
Starting a business and how to develop the concept
•
Customer need and value proposition
•
Industry analysis
•
The business model
•
The financial model
•
Preparation of a business plan
•
Financing your business

5- 2 page written assignments in Word format and 1 longer paper will be required
on dates to be announced in advance. Two of the assignments will involve applying
the textbook concepts to starting a business, three assignments will be based on
HBS cases and the last paper will utilize all the course concepts to develop a
turnaround strategy for Starbucks. There are no exams in this course