Mary MacAusland, CPA, PhD, is a senior lecturer at the School of Hotel Administration in the Cornell SC Johnson College of Business, where she teaches courses in financial and managerial accounting and financial statement analysis. Prior to joining Cornell, she was actively engaged in both academe and industry, serving in senior positions in several organizations. She was previously on the faculty at the University of New Hampshire and Franklin and Marshall College, and taught for several years at a small community college. MacAusland also worked in the life-care management and development field as a controller, and has held numerous positions with the United States Tennis Association (USTA), most recently as vice-chair of the audit committee. She served on the executive boards of USTA Middle States, and the Berks County Chapter of the American Red Cross for many years, and chaired several special events raising significant amounts for local charities. MacAusland was also a longtime member of the investment committee for the Berks County Community Foundation, where she helped to establish investment guidelines and monitor performance for $50 million in managed assets, and was integral in establishing a permanent fund with the foundation to provide grants for tennis programs for at-risk youth.
These sessions take place live on Zoom, Monday, Wednesday, and Friday, from January 10-21, 2022. Sessions run from 10:00am-2:00pm ET each day.
Hospitality Financial Management: Operations Decision Making
In this faculty-led intensive, you'll explore financial statement analysis tools to increase profitability within your operations. You'll practice techniques to make more strategic operational decisions about costs, volume, profit, and pricing, as well as how to best manage operating and capital budgets. These sessions will provide you with a background in financial accounting and financial statement analysis, and you'll use tools to analyze cash flows, results of operations, and financial position. Managerial accounting tools will also be explained, examined, and applied as they relate to the decision-making process within your hospitality organization. You'll engage with your peers in case studies and practical problem sets using common terminology employed by owners and operators.
Strategic Decision Making for Hotel Operations
Using team decision making as the primary engine, you'll enhance the skills needed to make sound tactical and strategic decisions to improve hotel performance. You'll practice skills that lead to successful planning and implementation of both short-term and long-term strategic initiatives. These intensive sessions leverage a simulation focusing on strategic decision making and practical exercises. You'll divide your time among working in the simulation, consulting the collateral materials, performing analyses, and engaging in group discussion and decision making. The activities will lead you to a broader understanding of complex market factors in addition to the micro-markets in which you operate. You'll leave having gained practical experience with the key competitive elements that will drive your success as a hospitality manager.
- Apply critical financial and operating ratios
- Utilize tools for analyzing the balance sheet, income statement, and cash flow statement
- Perform cost-volume-profit analysis as it relates to strategic operational decisions
- Explore use of operational and capital budgeting
- Analyze how micro- and macro-market factors affect sales and profitability
- Practice data analysis skills to inform better decision making
- Explore techniques that build long-term operational success and profitability
Alex Susskind is a Professor of Food and Beverage Management and is currently serving as the Associate Dean for Academic Affairs. Professor Susskind earned his Ph.D. in Communication from Michigan State University with a specialization in organizational communication and his MBA with a concentration in personnel and human relations. Alex earned his undergraduate degree at Purdue University in Restaurant, Hotel, and Institutional Management and is also a trained chef with a degree in Culinary Arts from The Culinary Institute of America in Hyde Park, New York. Prior to starting his career in academia, Alex was a chef and restaurant operator for both independent and multi-unit restaurant companies in the Northeastern and Southeastern United States.
Cathy A. Enz is Lewis G. Schaeneman Jr. Professor of Innovation and Dynamic Management Emeritus at the School of Hotel Administration in the SC Johnson College of Business at Cornell University.
Her prior administrative roles included serving as the associate dean for academic affairs, associate dean for industry research and affairs, executive director of the Center For Hospitality Research, and School of Hotel Administration management area coordinator. Cathy has published over one hundred journal articles and book chapters, as well as five books in the area of strategic management and innovation. Her research has been published in a wide variety of prestigious academic and hospitality journals, such as Administrative Science Quarterly, The Academy of Management Journal, and The Cornell Hospitality Quarterly.
Enz has taught courses in innovation and strategic management and is the recipient of both outstanding teaching and research awards. She developed the Hospitality Change Simulation, a learning tool for the introduction of effective change which is available as an online education program of eCornell. Three strategic management courses are also available through eCornell. Enz also presents numerous executive programs around the world, consults extensively in North America, and serves on the Board of Directors of two privately owned hotel companies.
Prior to her academic activities, Enz held several industry positions, including strategy development analyst in the office of corporate research for a large financial services organization and operations manager responsible for Midwestern United States customer service and logistics in the dietary food service division of a large U.S. health care corporation. Enz received her PhD from the Fisher College of Business at Ohio State University and taught on the faculty of the Kelley School of Business at Indiana University prior to arriving at Cornell in 1990.