Question

Revenue (or yield) management is best described as

Answer 1

Stakeholders - Are the individuals and groups who can affect and are affected by the strategic outcomes achieved and who have enforceable claims on a firm's performance.

Every organization has numerous stakeholders, both internally and externally. Sometimes the

The organization's environment consists of three components:
General Environment
Industry Envrionment
Competitor/Competitive Environment
General Environment: Consists of elements in the broader society that can indirectly influence an industry and the firms within the industry. The general environment has an indirect effect on strategic competitiveness and firm profitability. Consists of six segments:
Demographic - population size, age structure, ethnic mix, & income distributions (Why is understanding this environment important?)
Economic- Inflation and interest rates, savings rates (personal and Business), trade deficits/surpluses, & GDP.
Political/Legal - Laws (antitrust, tax, & labor), regulatory philosophies, & educational philosophies.
Sociocultural - Workforce diversity, quality of work life, environmental concerns, & work and career preferences.
Technological - Product & process innovation, R&D issues, & application of knowledge.
Global - Important global events, different cultural & institutional characteristics, &