Describe the Significance of Yield Management

question 32

Essay

Describe the significance of yield management.

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Definitions:

Electronic Cash Registers

These are devices used by retailers to calculate and record sales transactions, manage inventory, and handle cash. They have largely been replaced or augmented by more sophisticated point-of-sale systems.

Deskilling

The process through which skilled labor within an industry or economy is eliminated by new technologies or the simplification of tasks.

Postindustrialism

A stage of economic development in which the service sector generates more wealth than the manufacturing sector of the economy.

Multinational Corporations

Large companies that operate in several countries around the world and often play a significant role in globalization and the economy.