Studying about "Revenue Management" is important for MBA (Finance) Students--Part--2

Studying about "Revenue Management" is important for MBA (Finance) Students--Part--2

Continued from Part--1

A crucial role is played by revenue managers in revenue management implementation. Skugge (2004) determines that the main reason behind enjoying success by some companies with revenue management is the presence of efficient revenue managers as well as proposes a number of methods to develop revenue management awareness plus training programs. A study was presented by Zeni (2003) that was conducted at US Airways for evaluating the significance of the contributions of revenue managers for a system of revenue management along with the conclusion that 3 percent can be added up in incremental revenue by analysts.

It was presented by Parker (2003) that a support need to be provide and established by airlines to make a ‘community of practice’, an assembly of people related with revenue management and communicate on an continuing basis. This assembly of people takes in hold of the responsibilities regarding the establishment of standard procedures and protocols regarding revenue management.

Revenue management implementation needs management to create a set of business decisions. It is discussed by Yeoman and Ingold (2000) that the process of the decision-making by means of examples from hotels and airlines. Risks are associated with business decisions because as like in case of revenue management decisions. Thus, possible risks associated with the revenue management need to be evaluated by each company. Lancaster (2003) concentrated on risk acquired in the analysis and politics of revenue management how the measurement of risk management is done and methods could be applicable for revenue management practices.

Moreover, companies want to ensure that investment made by them on revenue management could attain the desired return. O’Meara and Delain (2004) exemplify how a business case can be built by a company to measure the incremental costs and revenues linked with enhancing or developing a program for revenue management.

Internet service and IT service

Revenue management too comprises application prospects in subscription services, like Internet service plus information technology on-demand service

Would you like to know more about MBA Entrance Exams, Read the below:
Read the important Details about MBA Entrance Exams
Gather complete details for CAT Exam like exam pattern, Dates
Find here the Information of MAT Exam
In fact, Internet service is a particular case of information technology on-demand service.

Bapna and Nair (2001) determine that for users ISP (Internet Service Providers) has perishable ability for logging, a permanent figure of units, as well as the probability of sectioning price-sensitive consumers. These 2 features are usual for industries, the places of conventionally applying the revenue management. They too recognize that in Internet service, revenue management is dissimilar than conventional purposes. The Internet service is nonstop in time and state, the service and the request occurring at the same time, as well as overbooking is not probable for ISP. In addition, revenue management problem was formulated by them for ISP like a nonstop instance Markov Decision Process for enhancing the low-priced value at the same time as enhancing service levels for the customers of higher class.

Wynter et al. (2004) bring in a model of revenue management for precise information technology service –computing on-demand service. A further analysis was made by Dube et al. (2005) for Wynter et al. (2004) model, both numerically and analytically and brings to a conclusion that revenue management application could considerably enhance revenue of computing on-demand service providers.

Continued to Part--3


Do you want to know more about MBA, click on the link given below:
Read the significant information about MBA
Skugge (2004) determines that the main reason behind enjoying success by some companies with revenue management is the presence of efficient revenue managers as well as proposes a number of methods to develop revenue management awareness plus training programs. A study was presented by Zeni (2003) that was conducted at US Airways for evaluating the significance of the contributions of revenue managers for a system of revenue management along with the conclusion that 3 percent can be added up in incremental revenue by analysts.

It was presented by Parker (2003) that a support need to be provide and established by airlines to make a ‘community of practice’, an assembly of people related with revenue management and communicate on an continuing basis. This assembly of people takes in hold of the responsibilities regarding the establishment of standard procedures and protocols regarding revenue management.

Revenue management implementation needs management to create a set of business decisions. It is discussed by Yeoman and Ingold (2000) that the process of the decision-making by means of examples from hotels and airlines. Risks are associated with business decisions because as like in case of revenue management decisions. Thus, possible risks associated with the revenue management need to be evaluated by each company. Lancaster (2003) concentrated on risk acquired in the analysis and politics of revenue management how the measurement of risk management is done and methods could be applicable for revenue management practices.

Moreover, companies want to ensure that investment made by them on revenue management could attain the desired return. O’Meara and Delain (2004) exemplify how a business case can be built by a company to measure the incremental costs and revenues linked with enhancing or developing a program for revenue management.

Internet service and IT service

Revenue management too comprises application prospects in subscription services, like Internet service plus information technology on-demand service. In fact, Internet service is a particular case of information technology on-demand service.

Bapna and Nair (2001) determine that for users ISP (Internet Service Providers) has perishable ability for logging, a permanent figure of units, as well as the probability of sectioning price-sensitive consumers. These 2 features are usual for industries, the places of conventionally applying the revenue management. They too recognize that in Internet service, revenue management is dissimilar than conventional purposes. The Internet service is nonstop in time and state, the service and the request occurring at the same time, as well as overbooking is not probable for ISP. In addition, revenue management problem was formulated by them for ISP like a nonstop instance Markov Decision Process for enhancing the low-priced value at the same time as enhancing service levels for the customers of higher class.

Wynter et al. (2004) bring in a model of revenue management for precise information technology service –computing on-demand service. A further analysis was made by Dube et al. (2005) for Wynter et al. (2004) model, both numerically and analytically and brings to a conclusion that revenue management application could considerably enhance revenue of computing on-demand service providers.

Continued to Part--3


What next after MBA?
How to prepare a CV after MBA
How Personality Development is Important for Successful MBA career

Ask our Counsellors


Comments

0 # Nishith Older than three months
Hii, I want to be a good doctor, plz suggest me the best MBBS colleges in Sholapur?
Reply | Reply with quote | Quote
0 # Shruti Older than three months
Its good that you are interested in medical field, get good MBBS colleges in Sholapur are Dr Vaishampayam Memorial Medical College
Reply | Reply with quote | Quote
0 # Jayesh Older than three months
Hii, What are the career opportunities of Bachelor of Education course after my degree, also suggest some b.ed colleges in Guntur?
Reply | Reply with quote | Quote
0 # Mukesh Older than three months
The B. Ed course is an excellent choice for making career in teaching profession, it is very respective profession for candidates, find some good colleges for it-Nagarjuna University - College of Education ; Bhashyam College of Education ; Sri Venkateshwara College of Education - Guntur ; Andhra Luthern College of Education
Reply | Reply with quote | Quote
0 # Lakshay Older than three months
Hii, I am from Karnal, I would like to do B.Ed from distance, Is there any university that offers B. Ed through distance mode
Reply | Reply with quote | Quote
0 # Pallavi Older than three months
Yes, many universities from across the country including Karnal offer this course through distance mode and the prestigious of them is IGNOU, Annamalai University to name a few.
Reply | Reply with quote | Quote
0 # Vaibhav Older than three months
Hello, I want to make career in engineering but so confused about its branch, Please suggest me the best branch which would have good scope in future, also suggest good colleges in East Champaran.
Reply | Reply with quote | Quote
0 # Mukesh Older than three months
You should take branch according to your interest, if you have interest in software or programming choose computer science, if you have interest in machines, choose mechanical, etc, some good engineering colleges are Motihari College of Engineering
Reply | Reply with quote | Quote
0 # Aarush Older than three months
Hii, I am from Nellore, I would like to do B.Ed from distance, Is there any university that offers B. Ed through distance mode
Reply | Reply with quote | Quote
0 # Shruti Older than three months
Yes, many universities from across the country including Nellore offer this course through distance mode and the prestigious of them is IGNOU, Annamalai University to name a few.
Reply | Reply with quote | Quote
0 # Priyansh Older than three months
Hello, i have completed 12th with 92% marks, now i want to take admission in best engineering college in Tiruchirappalli, plz share the list
Reply | Reply with quote | Quote
0 # Pallavi Older than three months
Hii, You secured very good percentage, you can get best engineering college, plz check here Engineering in Tiruchirappalli
Reply | Reply with quote | Quote
0 # Harikiran Older than three months
Hii, What are the career opportunities of Bachelor of Education course after my degree, also suggest some b.ed colleges in Valsad?
Reply | Reply with quote | Quote
0 # Jagan Older than three months
The B. Ed course is an excellent choice for making career in teaching profession, it is very respective profession for candidates, find some good colleges for it-RK Desai Institute of Teacher Education ; Matru Shri Kesarben Savaniya BEd College ; Nav Nirman Kelavani Mandal BEd College ; Shree Sadgurudev Swami Akhandanand Memorial Charitable Trust BEd College
Reply | Reply with quote | Quote
0 # Tushar Older than three months
Hello sir, I am 3rd year B.com student, I want to pursue MBA from Washim,Please suggest top B-School over there.
Reply | Reply with quote | Quote
0 # Mukesh Older than three months
Hello, after b.com, MBA will be the right career option, you can find here the list of good B-Schools in Washim- MBA in Washim
Reply | Reply with quote | Quote
0 # Nishith Older than three months
Hello, I have done B.Sc Honors in Mathematice, am I eligible for MBA, if yes plz suggest MBA colleges in Sunamganj
Reply | Reply with quote | Quote
0 # Jagan Older than three months
Yes, you are eligible for MBA, any graduate can do MBA if one have maths in 12th, find the list of MBA colleges in Sunamganj here- MBA in Sunamganj
Reply | Reply with quote | Quote