Without an understanding of the value of business travel to the company, strategic management of this important expenditure is impossible. In the absence of a strategic perspective, travel is managed as though it was simply another purchase made by companies. Travel management programs reflect this purchasing orientation. This purchasing approach, there is little or no systematic differentiation of trips based on expected outcomes. There is also little systematic consideration of key trip characteristics that are likely to produce those returns.
Cost becomes the primary consideration.
Value becomes synonymous with lower cost. The goal of this research initiative by Lehman Associates is to change the paradigm of business travel assessment and management from one focused solely on cost to one focused on the value that business travel brings to a company. As a result of our work, companies will be better able to manage this important strategic asset to maximize returns to the company. Develop the necessary tools and procedures to enable companies to assess the contribution travel makes to the company by understanding its value contribution in specific business processes. Differentiate business travel by key characteristics such as trip purpose and expected outcomes to enable companies to make strategic decisions about travel expenditures.