If you haven’t learned your own lessons during the treacherous year that was, then you may as well stop reading now. You’re like my neighbor’s dog; no matter how many times he’s been shocked by his electric fence, he still charges at me every day during my morning run. Bark … charge … ZAP! … whimper.
For the rest of us, periods of crisis not only force us to adapt and sharpen our skills in the moment, but they also help us prepare for future crises to come.
Sheryl E. Kimes of the Cornell Nanyang Institute of Hospitality Management understands as much. And during December 2009 and January 2010, she put those principles to work, asking more than 3,000 revenue-management professionals what they did to survive the recent economic downturn and whether or not their tactics worked.
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