Business travel agency entrepreneurs sometimes say they're not competing with large travel management companies because they are not going after the large or highly managed end of the business travel market. But big TMCs are taking their clout and experience down market.

Talking about categories of business travel clients can be confusing. Small, medium, large. Unmanaged, lightly managed, managed. National, regional or global. Guidelines versus mandates. Different rules of thumb emerge depending on industry vertical, the vertical's performance, the firm's leadership style or employee demographics. Perhaps a diverse market deserves what BCD Travel's Torsten Kriedt called . . .

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