HET301A – RISK MANAGEMENT IN THE TOURISM INDUSTRY

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HET301A – RISK MANAGEMENT IN THE TOURISM INDUSTRY

Introduction
Tourism is the backbone of the economies of many countries in the world. In some
developing countries, it stands out as the lone source of foreign income and a gateway to foreign
investments which help in the creation of skilled and unskilled employment (Glaesser, 2006).
Even so, like other industries such as manufacturing and international trade, the tourism, events,
and hospitality industry is not free from crises. Unfortunately, the crises have in many occasions
impacted the countries involved negatively, thus affecting economic stability (Glaesser, 2006).
No manager wants their businesses to flourish at all times in all circumstances. Yet
experiencing crisis in business is inevitable, and the impact of various crises on the tourism and
hospitality, events, and tourism industry is better imagined than experienced (Ritchie, 2004). As
a result, managers have turned to risk management techniques in a bid to keep their businesses
flowing (Ritchie, 2004). This paper seeks to explain some of the factors that influence the level
of risk associated with a given crises and disaster situations.

Category:

Description

Assessment Brief
Program Bachelor of Business
Subject
Subject code HET301A
Name of assessment Research Essay
Length 2000 words
Learning outcomes addressed
by this assessment: This assessment addressed Learning Outcomes 1-6

Assessment brief Summary: Research and critically analyse issues relating to the

tourism, event and hospitality environment.

Total marks 30 Marks

Two questions – choice one only
Question 1
Critically analyse [i] the factors that influence the level of risk associated with crisis and
disaster situations in the tourism, events and hospitality industry and [ii] the risk treatment
options to manage crisis and disaster situations.
Or
Question 2
Stakeholder management, communication and consultation are critical elements of
successful risk management. Discuss the importance of communication, consultation and
stakeholder management, with reference to: (i) macro risks; (ii) micro risks; and (iii) risks
arising from visitor behaviour and activities, and explain how communication and
consultation can be undertaken.

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HET301A – RISK MANAGEMENT IN THE TOURISM INDUSTRY

Introduction
Tourism is the backbone of the economies of many countries in the world. In some
developing countries, it stands out as the lone source of foreign income and a gateway to foreign
investments which help in the creation of skilled and unskilled employment (Glaesser, 2006).
Even so, like other industries such as manufacturing and international trade, the tourism, events,
and hospitality industry is not free from crises. Unfortunately, the crises have in many occasions
impacted the countries involved negatively, thus affecting economic stability (Glaesser, 2006).
No manager wants their businesses to flourish at all times in all circumstances. Yet
experiencing crisis in business is inevitable, and the impact of various crises on the tourism and
hospitality, events, and tourism industry is better imagined than experienced (Ritchie, 2004). As
a result, managers have turned to risk management techniques in a bid to keep their businesses
flowing (Ritchie, 2004). This paper seeks to explain some of the factors that influence the level
of risk associated with a given crises and disaster situations………..

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