Entrepreneurship in Hospitality and Tourism Management Overview

Applications for the Graduate Certificate in Entrepreneurship in Hospitality and Tourism Management will be considered from students enrolled in a graduate degree program at Virginia Tech and from non-degree and Commonwealth Campus students who have undergraduate degrees.  Certificates will be awarded upon application for the certificate once course requirements have been completed. The certificate has been designed so that both degree and non-degree seeking students from other majors may take the three courses within one semester and complete the certificate.

New entrepreneurs often possess innovative ideas but lack the business skills that will make them successful. Entrepreneurs differ from other business start-ups in that they are creating a unique and ground-breaking approach to a business. They have unique approaches, different business models, and/or innovative delivery techniques. The purpose of this certificate is to provide students with the specific tools and skills required to prepare them to engage in entrepreneurial activities in Hospitality and Tourism management. Specifically, this certificate will help students create a business plan that includes the financial, human resource, and leadership components vital for their success. What makes the program unique is the inclusion of an optional franchising course to provide students with the expertise needed to consider moving beyond their initial start-up to becoming a franchise in the future.

Upon completion, participants will be able to:

·         Create a business plan tailored to entrepreneurial endeavors in Hospitality and Tourism Management;

·         Analyze the practical leadership, marketing, financial, and production considerations for a variety of entrepreneurial initiatives for both new ventures and established firms in Hospitality and Tourism Management;

·         Analyze and critique both past and current approaches to entrepreneurial leadership;

·         Analyze human resources issues relevant to entrepreneurial activities in hospitality and tourism management;

·         Apply the processes, practices and legal considerations of entrepreneurial endeavors in  hospitality and tourism to real-time cases;

·         Analyze and critique the various approaches to franchise concept development, the franchisor-franchisee relationship, franchise agreements, operational problems, and international franchising;

·         Apply fundamentals of financial management to cases of entrepreneurial hotels, restaurants, institutions and similar service opportunities

Entrepreneurship in Hospitality and Tourism Management Admission Requirements

Graduate certificates can be awarded to individuals who do not desire to work toward a degree as well as to students who are working on graduate degrees.  Interested students must submit an official copy of their college transcript or diploma documenting receipt of a bachelor's degree from a regionally accredited college or university with an acceptable grade point average mailed to the Virginia Tech Graduate School as part of the application process. Please contact us for specific instructions on applying online. Students should meet with the MSBA-HTM and Graduate Certificates Advisor and submit the application form to the HTM Graduate Administrator for Certificate Program Approval signature no less than six months prior to completion of coursework.

Entrepreneurship in Hospitality and Tourism Management Curriculum Requirements

Number of Credit Hours:        9 credit hours.  Transfer credits are not permitted.

Required Course:

MGT 5814 Entrepreneurial Leadership. This course discusses the concepts and techniques for providing leadership in the entrepreneurial venture. It provides the theoretical basis for understanding the entrepreneurial process in the economy. It discusses the practical leadership, marketing, financial, and production considerations for entrepreneurial initiatives for new ventures and established firms. (3H, 3C)

 Restricted Elective Courses:

Choose two of the following:

HTM 5424 Human Resource Management. This course focuses upon the attainment and retainment of employees within the hospitality industry. Topics include the processes, practices and legal considerations involved in the employment of people in hospitality organizations. (3H, 3C)

HTM 5464 Franchising in Hospitality Management. Role of franchising in hospitality management. Contemporary issues related to franchising in different segments of hospitality industry, including franchise concept development, franchisor-franchisee relationship, franchise agreements, operational problems, and international franchising. (3H, 3C)

HTM 5444 Financial Management in the Hospitality Service Industries. Fundamentals of financial management as applied to hotel, restaurants, institutions and similar service organizations. (3H, 3C)