A restaurant in a club that I am member of, is mostly empty. Why? Because they charge Rs 25/- for a plate of idlis. I was quite tempted to tell the sole employee in the restaurant, you do not have a hope in hell of getting this place full. Well… I did not… and maybe they do get it full. When? They have hotel like rooms and conference halls, and those who use it, have no choice but to go the restaurant.
Economics as I understand it – make the “value for money” proposition more effective, and you can make a lot of profit, but does the club understand this?
If not, why? What is the price of exclusivity?
Maybe, the place is kept as is to show losses that help offset profits elsewhere. In business, economics is not the sole factor!
Just heard a podcast that talks of multiple technical solutions to the piracy problem in Somalian wasters. To share with the wider world …
1. Have electrified fences, that can be turned on when needed, so that pirates cannot board the ship.
2. Retro-fit high-pressure water jets on board the ships that can “blow” away the pirates
3. Install electronic devices that emit high-pitch sounds that will force the pirates to flee from the area
4. Deploy Unmanned Aerial Vehicles (UAV) to keep a check on the area through which the ship needs to pass. Get the data transmitted through satellite, rather than a ground station.
I would expect that the Insurance companies in this business must be already looking at one or more of the above options, and maybe even more.