In a revenue management system; the forecasting, allocation, overbooking, and pricing must work in unison if the objective is to maximize the revenue generated by a perishable asset.
<h3>What is a revenue management system?</h3>
Basically, a revenue management system refers to a system that analyzes the combination of competitor rates, historical rates, market dynamics and inventory levels to predict demand and provide rate recommendations. A very good revenue management system will always automate the entire process and generate rates that can maximize revenue and profitability.
One of the example of use of Revenue Management is employed in the businesses of Hotel Management and the Airline Industry. The primary source of most revenue for hotels is found in their room rates and the revenue generated from the bookings is a simple multiplication of price and volume booked.
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Answer: decision informity
Explanation:
Silas's action would contribute to decision informity in making effective decision making at WII. Decision informity is the degree to which team members inan organization possess adequate information about their task responsibilities.
From the question, ww.are informed that Silas has done a phenomenal job by gathering information that are vital to help the team understand the client's desires and needs.
Answer:
b. $ 16,940
Explanation:
First we need to determine the allowance for uncollectible accounts to be made for the year.
Allowance for uncollectible revenue is 1 % of revenue on account.
Revenue on account is $ 86,000 so the allowance for uncollectible accounts is $ 86,000 * 1 %= $ 860
The gross receivable value is amount of revenue on credit less the collections
Revenue on credit $ 86,000
Less: collections on account <u>$ 68,200</u>
Gross receivables $ 17,800
Less Allowance for uncollectible accounts <u> $( 860)</u>
Net Realizable value of receivables <u> </u><u>$ 16,940</u>
Answer: c. Joanne's company functions with a high uncertainty avoidance, whereas Patrick's company functions with low uncertainty avoidance
Explanation:
This uncertainty avoidance would propel Patrick's company to be unstructured and negligent.
Borrowers post WWII borrowed in the midst of prosperity. Financial institutions lent more money and borrowers paid it back.
A Financial Institution (FI) is an entity that engages in financial and financial transactions such as deposits, loans, investments, and exchanges.
Financial institutions such as commercial banks. Facilitates bank deposits, safe deposit box services, loans, checking accounts and various financial products such as savings accounts, overdrafts and certificates of deposit. Read more
Financial institutions will offset the expected economic impact of the pandemic by continuing to lend to businesses and consumers, stimulating economic activity and expanding support to those in need can do.
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