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Tourism destinations are traditionally dominated by small and medium-sized enterprises that provide a wide range of products to tourists such as accommodation, travel services, transportation, recreation and entertainment, and food and beverage services. New knowledge and global risks have emerged, and small and medium-sized tourism enterprises (SMTEs) are now highly vulnerable. Recently, the COVID-19 pandemic has hit the whole world and caused a change in the tourism paradigm. Many SMTEs around the world have been severely affected by the need to completely shut down their activities for months, and expectations for recovery in the medium term are not optimistic. SMTEs do not have the capacity and increased resources—financial, human, operational—of large companies to prepare for crisis contingencies (planning) and respond to the challenges they face. They simply do not have the resources or knowledge for risk analysis and the creation of crisis teams or plans. This is an area of growing importance and concern, both in the public and private sectors, where specific research and more in-depth knowledge are needed. Risk, Crisis, and Disaster Management in Small and Medium-Sized Tourism Enterprises connects research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises. The book presents prevailing research on SME-related planning, response, and recovery during crisis situations, further propelling much-needed literature on these challenges in today’s tourism industry. The chapters cover important topics such as terrorism threats, disaster management, resilient strategies, pandemic management, and risk analysis. The target audience of this book will be composed of professionals working in the tourism and hospitality industries, restaurateurs, travel agencies, hotel executives, directors, managers, crisis and risk planners, policymakers, government officials, researchers, and academicians who are interested in the threats to tourism businesses and how small and medium-sized enterprises can manage and navigate these risks.
"This book connects the challenges of today's tourism industry more closely to academic research, connecting research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises"--
"This book connects the challenges of today's tourism industry more closely to academic research, connecting research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises"--
This book provides an in-depth introduction to crisis management and leadership in SMEs, as well as methods, approaches and cases against the background of different crises; external ones in particular. Featuring contributions from research and practice, this book covers a plethora of SMEs from different sectors to match the diverse nature of small business practice. The combination of a sound theoretical framework for small firm crisis management along with practical instruments/methods and cases, help to improve the organizational resilience of SMEs. The authors also guide the reader to resources beyond the book, including an online “Crisis Toolkit” comprised of material such as further publications, crisis management blueprints, guidelines, checklists, and company cases on crisis management-related issues.
The international cast of authors in this important book explore how internationalizing small and medium sized enterprises (iSMEs) face major crises, such as COVID-19, and have managed them to reach a stable and desired state post-crisis. Chapter orientations vary from theoretical to empirical. Each focuses on issues related to a major crisis, and present already-deployed success strategies in 14 different country environments. The rich diversity of chapters offers a highly significant and timely contribution to the field. This book consists of five parts. An introduction to the volume and an extensive literature review open the book and are followed in Part II by general, yet critical, topics such as firm capabilities, resources and orientations, which collectively influence how smaller firms perceive emerging, approaching or unfolding crises in their environments and how the national public policy as well as the evolution of the crisis affects them. Part III extends this discussion to look at digitization and 'servitization' for higher customer and market-orientation, supply chains and overall governance. Specific research-based examples of strategies fill out Part IV and the final part offers a view beyond the current crisis. Scholars and students in entrepreneurship, international business and other related areas will find this very timely volume illuminating.
Oftentimes, the owners and entrepreneurs whose small businesses are undergoing financial problems suffer high emotional costs. These individuals can experience significant setbacks in their entrepreneurial journeys as well as depression and other negative emotions from the stress of crisis episodes. However, businesses that are in crisis also provide valuable learning opportunities for adapting and changing in order to successfully face future challenging situations. Cases on Small Business Economics and Development During Economic Crises presents a diverse range of perspectives and insights into global developments in entrepreneurship and captures a diverse collection of methodologies and outcomes from various countries in the realm of small business economics and their development. Including case studies that discuss the COVID-19 pandemic, risk management, and entrepreneurial resiliency, this case book serves as an excellent companion for entrepreneurs, small business owners, managers, executives, economists, business professionals, academicians, students, and researchers.
Identifying a new approach to disaster response: spontaneous, compassionate, and impromptu actions to alleviate suffering. In Spontaneous Venturing, Dean Shepherd and Trenton Williams identify and describe a new approach for responding to disaster and suffering: the local organizing of spontaneous, compassionate, and impromptu actions—the rapid emergence of a compassionate venture. This approach, termed by the authors “spontaneous venturing,” can be more effective than the traditional “command-and-control” methods of large disaster relief organizations. It can customize and target resources and deliver them quickly, helping victims almost immediately. For example, during the catastrophic 2009 bushfires in Victoria, Australia—the focal disaster for the book—residents organized an impromptu relief center that collected and distributed urgently needed goods without red tape. Special bonds and friendships formed among the volunteers and victims; some were both volunteer and victim. Many victims were able to mobilize resources despite considerable personal losses. Shepherd and Williams describe the lasting impact of disaster and tell the stories of Victoria residents who organized in the aftermath of the bushfires. They consider the limitations of traditional disaster relief efforts and explain that when victims take action to help others, they develop behavioral, emotional, and assumptive resilience; venturing leads to social interaction, community connections, and other positive outcomes. Finally, they explore spontaneous venturing in a less-developed country, investigating the activities of Haitians after the devastating 2010 earthquake. The lesson for communities hit by disaster: find opportunities for compassionate action.
This book analyses the financing problems of Greek small and medium-sized enterprises (SMEs), within a liberalized financial system and within an economic environment of fiscal and monetary constraints. Using recent data covering a ten-year period, the main aim of the research is to explain the interdependence between the situation of the banking sector generally and that of small and medium enterprises. The author argues that the reluctance of banks to lend to Greek companies because of the strict financing constraints, due to the national debt crisis, serves to exacerbate the cycle of economic recession. This factor seriously undermines the efforts of Greek companies to develop growth opportunities, and negatively affects their competitiveness as well as their ability to strengthen their market position. The author examines the supply and demand aspect of the problem: there is lower demand for lending due to the decline of demand for goods and services as well as a tightening of banks’credit standards, whilst on the supply side, the deteriorating financial situation of banks and their willingness to avoid increasing risk are important contributing factors. Finally, the author presents the main conclusions of the analyses carried out in the previous sections of the book and discusses some relevant recommendations for future research. Building on the extant literature, this book analyses the problem from the point of view of both businesses and the banking sector. The study is useful for scholars, businesses and policy decision makers who are interested in the problem of small and medium-sized enterprises financing.
The international cast of authors in this important book explore how internationalizing small and medium sized enterprises (iSMEs) face major crises, such as COVID-19, and have managed them to reach a stable and desired state post-crisis. Chapter orientations vary from theoretical to empirical. Each focuses on issues related to a major crisis, and present already-deployed success strategies in 14 different country environments. The rich diversity of chapters offers a highly significant and timely contribution to the field.