Risk management

Paraskevas, Alexandros ORCID: https://orcid.org/0000-0003-1556-5293 (2022) Risk management. In: Encyclopedia of Tourism Management and Marketing. Edward Elgar Publishing, Cheltenham, UK. ISBN 9781800377479 (In Press)

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Abstract

Risk management is the process through which travel and tourism organisations proactively identify, evaluate and address factors, hazards and events that may potentially threaten the achievement of their strategic objectives or even their survival. Risk management is not crisis management, even if in some literature these terms are used interchangeably. Risk and crisis management are not two separate functions but rather two risk intelligence-based complementary parts of the same function which aims at developing the capacity of the organisation to face adversity and disruption with no or limited consequences and recover quickly from any crisis situation. This capacity is often referred to as ‘organisational resilience’. The distinction between risk and crisis management is that the one aims to proactively address threats while they are still risks (i.e. potential threats) whereas the other aims to reactively address actual threats that have become crises and which have adverse impacts on the organisation.

Item Type: Book Section
Uncontrolled Keywords: risk assessment, risk evaluation, risk identification, risk treatment
Subjects: Hospitality and tourism > Hospitality > Risk and reputation management
Hospitality and tourism
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Depositing User: Alexandros Paraskevas
Date Deposited: 07 Jun 2021 09:27
Last Modified: 28 Aug 2021 07:15
URI: http://repository.uwl.ac.uk/id/eprint/7937

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