Resiliency Models and Addressing Future Risks for Family Firms in the Tourism Industry
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Resiliency Models and Addressing Future Risks for Family Firms in the Tourism Industry

Anita Zehrer (MCI Management Center Innsbruck, Austria), Gundula Glowka (MCI Management Center Innsbruck, Austria), Katrin Magdalena Schwaiger (MCI The Entrepreneurial School, Austria) and Victoria Ranacher-Lackner (MCI The Entrepreneurial School, Austria)
Pages: 300|DOI: 10.4018/978-1-7998-7352-5
ISBN13: 9781799873525|ISBN10: 1799873528|EISBN13: 9781799873549|ISBN13 Softcover: 9781799873532

Description

This book provides an international perspective on contemporary issues and future challenges of family firms in the hospitality/service industry. While several books have been devoted to tourism OR family firms, this book represents a comprehensive attempt to address the discussions about the future of family firms in tourism. Nowadays the tourism industry faces challenges such as sustainability, uncertainty from external shocks, a shift of consumers or successful destination management, and, as a consequence, organizational resilience. Therefore, we call for theoretical approaches to improve the understanding of such dynamics by using e.g. systems theory, a stakeholder perspective, network analysis and tourism planning or an expansion of sustainability and resilience models. Further, the development of practical solutions from field or case studies could be beneficial to create valuable learning effects for both, firms and destinations alike.

Family-owned and family-run firms, which are mostly small and medium-sized enterprises, strongly shape many rural tourism destinations. Family firms are characterized by their long-term orientation and the desire to pass the business to the next generation, thus running a sustainable business. It is therefore essential to understand how family firms address future risks and how they are embedded in the local tourism destinations. Concepts such as socio-emotional wealth, behavioral agency theory, resilience theory, as well as agency and stewardship theory might be useful to advance the theoretical understanding. To deal with future challenges of tourism family firms, we call to examine different perspectives at an individual, firm and destination management level.

This book will create value for the tourism and family firm research community as well as for practitioners in both spaces. Addressing the challenge of sustainability in an uncertain world, family firms might be a major contributor to manage and conserve tourism destinations successfully in the future. The objective is to connect knowledge from family business research to tourism research, in particular focusing on hospitality. Doing so, tourism practitioners and researchers might be able to use valuable linkages that can lead to sustainable solutions at individual, firm and destination level. The same applies for tourism family firms that can benefit from the identification of future challenges for their businesses and points of departure for organizational resilience. Since family firms are a heterogeneous group of firms, family firm research can examine if existing theory is consistent in this special market place. Further, we believe that the tourism industry is an ideal setting to study family firm dynamics and succession for family SME. The impact of this publication will thus be to examine tourism family firms in depth, since these firms might be essential to provide solutions for challenges such as dealing with uncertainty, becoming or staying resilient, and creating sustainable tourism destinations.

Table of Contents and List of Contributors

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