Tailor-Made Programmes

Fundamentals of Finance Module October 1st

What is this course?

Foundations of Finance aims to enable hospitality leaders to be more effective in their role through the understanding of fundamental finance business concepts such as profitability, liquidity and performance.

Who is it for?

Managers, HOD’s, Senior Leaders and those working towards a leadership position.

What will they learn?

The Concept of Liquidity, understanding it’s importance and how to measure it.

The concept of profitability with a deep dive into the components that drive it – labour costs, F&B costs, fixed costs, other variable costs. Understanding and feeling more confident with your Income statement.

Overview of budget types and the typical budget cycle.

Tools and techniques you can apply to measure effective performance and drive for increased profitability.

The course also aims to empower leaders to know what good financial governance looks like, what are the pitfalls, how to mitigate the risk and how to safeguard the assets of the business.

Foundations of Finance is a course that will give you practical tools, techniques and knowledge that you can use in your role to make you a more dynamic leader.

Course Fee

€450

Continuous Improvement Workshop October 21^st

What is this course?

It’s a highly interactive & practical workshop which is the first step to embedding a culture of “Continuous Improvement” in the DNA of your business.

Who is it for?

All Supervisors, Managers, HOD’s, Senior Leaders, General Managers.

What will they learn?

Your managers will learn how to use simple but highly effective lean tools to simplify everyday processes that will make the job easier for their team and themselves. By identifying this “waste” more time can be spent on more “value[1]adding activities” to enhance the guest experience, generate more sales, conduct training etc… The workshop culminates in a process mapping exercise where learners map real life processes from their own workplace, waste is identified and a new, more efficient process is created through collaboration with their colleagues. Each learner will make a “commitment” at the end of the day, they will choose a process challenge in their own workplace where they will use their new continuous improvement skills to optimise.

Course Fee

€450

Labour Forecasting & Scheduling October 22^nd

What is this course?

It’s a practical course to help learners find the perfect balance between quality management and labour management. It introduces the learners to the concept of managing payroll by using the productivity metric of "hours per unit".

Who is it for?

All Supervisors, Managers & HOD’s who are responsible for creating rotas, Finance Managers, HR Managers, General Managers.

What will they learn?

Mangers will learn that labour forecasting is very different to revenue forecasting as it requires volume data (occupied rooms, covers, check-in's etc...) as opposed to revenue to accurately schedule labour and create more efficient rotas. Learners will be introduced to the concept of managing payroll by using the productivity metric of hours per unit. They will learn practical methods to create better rotas which are better aligned with the peaks and troughs of business levels using the 3's: “Right staff in the Right place at the Right time” to service guest demand. They will learn to use the "forecasting and scheduling cycle" which ensures that a robust methodical approach using data and not just intuition is applied when forecasting, scheduling, and monitoring labour utilisation.

Course Fee

€450

For Further Information

Contact Executive Education Coordinator

Fiona Duggan 

T. +353 90 497200

E. Fiona.duggan@universityofgalway.ie