Essay on The Impact Of Marketing On Business Travel Management

Essay on The Impact Of Marketing On Business Travel Management

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PricewaterhouseCoopers (PwC), is the world 's largest professional services organization, and was summoned by The Institute of Business Travel Management (IBTM) to conduct a groundbreaking study relating to how valuable and effective is travel management in the creating shareholder value. The focus was the perceptions of travel management and business travel. "This groundbreaking study will provide corporations and travel managers the information they need to demonstrate the value of the business travel management to Corporate America," according to, IBTM Chairman Robert E. Dirks, Senior Vice President of Marketing, Hilton Hotels Corporation.
Business research is a tool used by many corporations to enhance their knowledge of a particular subject. It’s a way of investigating what might work for a company and a way to measure the Return on Investment (ROI). Research study is also used to evaluate the potential for new programs or the improvement of current programs, which is the case of IBTM. (Dirks 2011)
Research Problem and Method
The problem is that ninety percent of corporations in the United States have adopted the principle of maximizing shareholder or improving shareholder value and travel management was falling behind. Business travel managers make several contributions to corporations, and this study will help the principle of maximizing shareholder or improving shareholder value. Business travel managers make significant contributions to the corporations from both productivity and cost effectiveness perspective," (Dirks 2011)
To conduct the research PricewaterhouseCooper use a reporting study to compare two other companies. PricewaterhouseCooper compared two companies that had detailed sophisticated models about ...

... middle of paper ...

...arch study for IBTM to evaluate the effectiveness of business travel management in creating shareholder value. PricewaterhouseCooper performed the study by using all four research studies. The research studies were used to find that travel management can contribute to shareholder value by measuring financial content relevant to the company. The contribution can be directly or indirectly, but in the long run IBTM will profit by implementing a travel management program and allowing company employees to pursue other activities that will benefit the company in the long run. IBTM is going to use the study to improve the company’s travel management program, further enhance the company’s return on investment (ROI) and change the view that corporate stakeholders have on the cost of travel management as and the relationship between travel management and corporate value.

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