Capocchi Economic Value and Revenue Management Systems

An Integrated Business Management Model
1. Auflage 2018
ISBN: 978-3-030-02417-8
Verlag: Springer Nature Switzerland
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 225 Seiten

Reihe: Progress in Mathematics

Filling a gap in existing literature on revenue management systems, this book explores the use of business strategies which are specifically designed to have a positive impact on economic and financial efficiency. Focussing on services within the tourism industry, the author takes a new approach and identifies dynamic pricing and service differentiation as key components of strategic management. Providing fresh insights into an ever-expanding sector, this book will be a useful tool for those studying business strategy and management, as well as value creation theory, as it ultimately presents an integrated business management model which will ensure sustainability.


Alessandro Capocchi is Associate Professor of Business Economics at the University of Milano-Bicocca, Italy. Here, he is Head of the international office of the School of Economics and Statistics and Scientific Director of the Observatory on New Entrepreneurship (ONILAB). Alessandro is also Co-Founder and president of MIndLab SRL, a Spin Off of the University of Milano-Bicocca, and a member of the Association of North America Higher Education International (ANAHEI). 

Autoren/Hrsg.

Capocchi, Alessandro

Inhaltsverzeichnis

1;Preface;6
2;Acknowledgments;10
3;Contents;11
4;List of Figures;15
5;List of Tables;17
6;1: Starting and Running a Business;18
6.1;From a Sharing to a Contamination Economy;18
6.2;Business and Entrepreneurship;22
6.3;The Entrepreneur;24
6.4;Entrepreneurship;28
6.5;Innovation and Entrepreneurship;30
6.6;New Entrepreneurship in Italy;32
6.7;Enki Stove: An Italian Start-up;34
6.8;References;35
7;2: Time in Entrepreneurship;38
7.1;The Economic Business Cycle;38
7.2;The Meaning of Price;43
7.3;Management Operations;46
7.4;Measurement of the Management System;48
7.5;The Life Cycle of a Company: Accounting Period;50
7.6;The Time Dimension in Management Operations;53
7.7;References;55
8;3: Entrepreneurship, Business Cycle, and Creation of Value;57
8.1;Accounting and Managerial Tools;57
8.2;The Financial and Economic Dimensions;59
8.3;The Output of General Accounting: Financial Statements;63
8.4;The Balance Sheet;66
8.5;How to Read the Balance Sheet;69
8.6;Profit and Loss Statement;76
8.7;References;82
9;4: The Short-Term Measurement of the Creation of Value: The Importance of Technical Efficiency;83
9.1;Creation of Economic Value: Profitability;83
9.2;The Technical Dimension of Business: Production Capacity and Productivity;85
9.3;Technical Efficiency and Economic Efficiency;86
9.4;The Relationship Between Volumes, Costs, Prices, and Revenues;89
9.5;The Origins of Kreislauf: Marginalist Theory;93
9.6;John Maurice Clark and the Division Between Fixed and Variable Costs;97
9.7;References;99
10;5: The Impact of Technical Inefficiency on Business Management;100
10.1;The Illusion of Low Cost;100
10.2;The Importance of the Warehouse in the Business-Economics Dimension;106
10.3;Overbooking: A Virtual Warehouse;110
10.4;Case Study;113
10.5;References;114
11;6: Revenue Management from a Business-Economics Perspective;116
11.1;From Technical Efficiency to an RM System;116
11.2;The Definition of RM;118
11.3;The Principles of RM;122
11.4;The Cannibalization Effect;127
11.5;The Implementation of RM Systems;129
11.6;References;132
11.6.1;Recommended Readings;132
12;7: Revenue Management Systems Based on Dynamic Pricing;135
12.1;Pricing Models;135
12.2;Prospect Theory;137
12.3;The “Fairness” Concept;140
12.4;Dynamic Pricing Strategies;142
12.5;Dynamic Pricing Models;144
12.6;Management Implications of RM Systems Based on Dynamic Pricing;148
12.7;References;151
13;8: Revenue Management Systems Based on Capacity Allocation;154
13.1;Capacity Allocation;154
13.2;Case Study;158
13.3;Capacity Allocation and Optimization;159
13.4;Capacity Allocation Control Mechanisms;161
13.5;Capacity Allocation with Two Classes;165
13.6;Littlewood’s Rule;168
13.7;The Effectiveness of RM Systems Based on Capacity Allocation;174
13.8;References;177
14;9: The Measurement of Revenue Management Policies: RevPAR and Yield Rate;179
14.1;RM Systems;179
14.2;Indicators in RM Systems;184
14.3;RevPAR and Yield Rate;187
14.4;The Use of the RevPAR and the Yield Rate;196
14.5;References;200
15;10: Economic Value and Revenue Management Systems: Case Studies;202
15.1;Differentiation: UNA Hotels & Resorts and Accor;202
15.1.1;UNA Hotels & Resorts;202
15.2;The CA Hotels Case;205
15.2.1;Direct Costing and Full Costing;205
15.2.2;Rationality and Strategy;207
15.3;Break-Even Analysis;208
15.3.1;Fixed Costs;209
15.3.2;Graphical Representation of the BEA;210
15.3.3;The Mathematical Representation of the BEA;211
15.4;The Unimib Travel Case;213
15.5;The Hotel Vittoria Case;214
15.6;The Hotel Piccadilly Case;215
15.7;Reference;217
16;Index;218