Revenue Management and LeadershipLaajuus (5 cr)

Objective

The course enables students to expand their thinking of the possibilities on how revenue management (RM) practices can be implemented in various tourism-related businesses in responsible ways. The student will learn how to use data for better performance and customer-driven decisions. Understanding of what leadership is and how it may be practised in RM context forms the second part of the course. A contemporaneous view of leadership as contextual and interpretative is introduced.

After completion of the course the student is able to
- identify the principles and main components behind RM and pricing in tourism businesses
- discuss how RM can be responsible applied to airlines, hotels, restaurants, events and for better pricing decisions
- outline revenue manager function, its expectations and workflow
- recognize and interpret key performance metrics in RM
- analyse customer-based information
- identify and independently analyse leadership issues related to the implementation of managerial practices, such as RM
- identify research topics to contribute RM and leadership practices.

Content

Review of basic RM-concepts and pricing issues, market segmentation and demand forecasting, dynamic and innovative pricing, financial and non-financial performance ratios, RM practices, leadership and management of tourism organizations, futures insights.

Qualifications

Intermediate Studies in Tourism Research
Financial Management and Control in Tourism Business or Managing Customer Relationships

Assessment criteria, satisfactory (1)

Fail: Performance is highly deficient or erroneous. The work may be based on serious misunderstandings.

Sufficient and satisfactory (1-2): Performance is lacking in scope, superficial, or corresponds poorly to the assignment. The author merely lists things out of context or addresses them one-sidedly. The work may contain errors or obscurities.

Assessment criteria, good (3)

Good and very good (3-4): Performance corresponds to the assignment, manifesting comprehension and a skill to analyse and justify. The author has addressed the issue comprehensively. The work may contain some deficiencies.

Assessment criteria, excellent (5)

Excellent (5): Performance delineates an extensive whole and the author can apply knowledge in a multifaceted way or place it in various contexts. The work manifests independency and insight, and it is a flawless entity that involves justified thinking or critical contemplation. The work is well written and implemented.

Materials

Supplementary literature:
Legohérel, P., Poutier, E. & Fyall, A. (eds) (2013). Revenue management for hospitality and tourism. Goodfellow Publishers.
Article collection.
Lecture materials.

Further information

Timing: 2nd period Can also be completed individually during the summer term.