The rapid evolution of customer demands within the hospitality industry has created unprecedented commercial opportunities for agile, innovative and entrepreneurial minds.In response, more and more young people are opting to create their own companies, where they can bring their business ideas to life free from the bureaucracy of a large organization.
This is part of a wider trend towards entrepreneurship that many see as the future for employment creation across the world. According to the most recent OECD figures, new enterprise creations (including sole-proprietor businesses) are continuing to rise globally, with record highs being achieved in around half of OECD member countries.
Providing the tools entrepreneurs need
The new Master’s in Hospitality, Entrepreneurship and Innovation from Glion is purpose-designed to help the next wave of successful hospitality entrepreneurs launch and develop start-up enterprises
“Today’s customers are looking for emotional experiences; they have new habits and new preferences,” says Marie-France Derderian, Program Director for the Master’s.
“The hospitality industry needs to innovate if we wish to delight these customers, creating innovative products and services backed by innovative business models.”
This Master’s Degree is particularly appropriate for young entrepreneurs to be, current entrepreneurs, and professionals who own a family business. It is also perfect for career switchers, who can gain a fast-track entry into the world of hospitality.
Practical learning and unforgettable study trips
Across two intensive semesters, the Master’s is focused on ‘learning by doing’.
Marie-France explains, “In the first semester, students will learn how to create value for their start-ups. They will discover the hospitality universe and learn about entrepreneurship and innovation methodology. During the second semester, they will learn how to deliver value for their customers; how to capture value for themselves and how to add scale to their start-up so it can become profitable.”
The second semester also contains a digital technology module, alongside practical teaching on strategies for market growth, marketing and sales, revenue management and distribution.
“The final, but crucial, element is of course finance – the lifeblood of any business. We’ll cover how to access finance and financial strategies, as well as mergers & acquisitions,” says Marie-France.
To underline the practical, real-world nature of the program, students will be tasked with creating their own start-up in order to bring their business ideas to life.
“Last, but by no means least, are the two amazing, unforgettable study trips,” says Marie-France. “These will take students to Berlin, Germany, in the first semester and then to Silicon Valley and Napa Valley in the United States during the second semester.
“At the end of the academic year we will have an innovation fair. This is a capstone project for the students, who will be fully responsible for its creation and staging.
“If you are ready to step out of your comfort zone, to challenge your mindset, improve your leadership skills and boost your personal development, then this is the Master’s for you.”
The first intake on the Master’s in Hospitality, Entrepreneurship and Innovation is September 2019.
To learn more about study topics, learning outcomes and to apply, visit our dedicated MSc page.
