Wednesday, October 16, 2019

Review one concept or practice that has been applied in one aspect of Essay

Review one concept or practice that has been applied in one aspect of tourism management - Essay Example The article conducted a research into a company and its key accounts. The relevant statistical data was gathered from three different sources. The sources included the company revenue managers, some of the company’s key accounts, and the company account managers. The research included interviews with the respondents. The research is composed of observations and the painstaking scrutiny of the relevant documents. The findings of the research indicated that the revenue managers had positively influenced the procedures of pinpointing and analyzing the implementation of the contractual management decision on certain chosen accounts. From the key accounts’ point of view, the revenue management processes were discovered to have a reverberating damaging effect on the trust as well as the many years of client-customer relationships. The research indicated that the negative image unfavorably affected the commitment to continue the client- supplier relationship. In terms of application of the research findings to realistic business situations, the findings of the research should be a one size fits all result. The research findings prove that revenue management will be rewarding to the entity, under study. The paper shows that revenue management (which can be identified as yield management) is a very popular management strategy by companies having scarce capacities. The article further states that extensive research had been conducted in the area of revenue management. A parallel research was also put into motion in business relations in the service industry. The article states that the hotel industry must understand the airline industry must prioritise serving the needs and wants of its most precious item, the air travel customers. Hotels must know implement the revenue management in order to bail out the declining hotel room volume brought about by the economic crisis. Revenue management has been used to profitably increase the demands for the

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