In a recent edition of HBR (Harvard Business Review), one story touched a nerve! … that much of the strategy and management advice that business leaders turn to is unreliable and impractical because those who would guide us underestimate the power of chance! So true, especially for the fast moving, ever changing Travel Industry. There are few industries who are empowered by chance as regularly as the travel industry and it is often a roller coaster ride from one year to the next, knowing when to market, when to reward, when to take more time out and when to value add or re-imagine your workplace.
Most successes have been measured by return on investments (ROI), assets and growth, yet many have failed to measure behaviours that were ‘consistently’ relevant to success and it appears that, talking to the top 10% of all companies studied, there are three fundamental rules;
1. Better before cheaper
2. Revenue before cost.
3. There are no other rules, so to change anything you must follow rule 1 & 2 !
So, compete on differentiators, not price / and prioritise increasing revenue before reducing costs.
In the travel industry, with reducing commissions and, as of 1st July 2014, a completely new platform from which to work, we are learning to differentiate and our clients are loving it. We have opportunities never seen before in our industry and we have lots to embrace so let’s do it with gusto!
Ask us about;
- Shaping your organisation
- Leadership and how to be a better leader
- Managing change
- Improving yield and profitability
- the best and most effective appraisals
- HR issues /Giving honest feedback
- Conflict Management
- How to identify your next team member
and see the ‘profit’ page for more food for thought!