Michael Badawy published a definition of technology management in an academic journal and referred to it as “A tweet and two characters”. His objective was to work through large volumes of research related to technology management and come up with a simple, yet comprehensive definition for the concept technology management. Thus, it had to fit within a 140 characters. Though he missed this by 2 characters, the result was worth the effort.
What is the tweet for both RA and RM? The TMForum RA definition is “Data quality and process improvement methods that improve profits, revenues and cash flows without influencing demand”. That fits in a tweet. I like David Smith’s definition of RA more “Accurately billing for all transactions, products and services provided in accordance with the tariffs and contracts while managing fraud to acceptable levels and collecting all due revenue”. David’s definition is more practical and measurable but does not fit in a tweet.
A good definition for Revenue Management by Gross is “An art and science of acquiring knowledge of what the market place really wants and the wisdom to address it effectively”. Not measureable at all but quite a snazzy tweet. I am not sure I saw a definition for Revenue Management from the TMForum.
Was Badawy perhaps on to something when he tried to simplify matters by keeping it short? Or is it possible to still confuse the matter even in short verse? I believe so.
ps. Please contact me should you like more info on the authors mentioned in this post.