Describe How Airlines Utilize Revenue Management to Enhance Profitability

question 25

Essay

Describe how airlines utilize revenue management to enhance profitability.

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Definitions:

Talent Management

The commitment of an organization to recruit, retain, and develop the most talented and superior employees available in the job market.

Talent Segmentation

A strategy that involves categorizing the workforce based on skills, competency, and potential to tailor development programs and manage talent effectively.

Firm-Specific Knowledge

Specialized knowledge that is valuable and unique to a particular company, including its processes, practices, and intellectual property, contributing to its competitive advantage.

Internal Candidates

Employees within an organization who are considered for a vacant position or promotion, as opposed to sourcing candidates from outside the organization.