Revenue Management for Service Organizations

Chapter 7

Summary

Revenue management is a unifying approach for many activities performed by an organization in the pursuit of profit (or avoidance of loss in the case of not-for-profits). On a strict revenue perspective, it aims to improve an organization’s performance by getting the best revenue streams possible from its resources. Focusing, however, on revenue by itself is not sufficient. It is critical to balance revenue initiatives with managing processes and resources. Increasing revenue at the cost of higher expenses or investment can be counterproductive. This is why we have described not only revenue maximizing methods but also ways in which processes and activities can be better managed. We believe that most organizations can benefit ...