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Innovation, risk and uncertainty: a study of tourism entrepreneurs

Williams, Allan M., Sánchez, Isabel Rodríguez and Skokic, Vlatka (2019) Innovation, risk and uncertainty: a study of tourism entrepreneurs Journal of Travel Research.

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Abstract

Innovation is inherently associated with risk and uncertainty, and the engagement of entrepreneurs with these is central to the innovation process. Entrepreneurs are not passive actors but, through learning, they contribute to the dynamic capabilities of the firm across the innovation process. Drawing on 57 interviews with entrepreneurs in tourism SMEs in Spain and the UK, the paper identifies how risk and uncertainty are understood to change throughout the innovation process in the key areas of technology, finance, markets and organizations. It also examines how tourism entrepreneurs respond to risk and uncertainty through a range of strategies, especially the harvesting of knowledge and networking. However, engaging with uncertainty remains elusive and relies as much on intuition as on reasoning.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > School of Hospitality and Tourism Management
Authors :
NameEmailORCID
Williams, Allan M.Allan.Williams@surrey.ac.uk
Sánchez, Isabel Rodríguez
Skokic, VlatkaV.Skokic@surrey.ac.uk
Date : 2019
Copyright Disclaimer : © The Author(s) 2019.
Uncontrolled Keywords : Uncertainty; Risk; Innovation process; Tourism entrepreneurs; Learning; Risk and uncertainty management.
Related URLs :
Depositing User : Clive Harris
Date Deposited : 03 Dec 2019 13:05
Last Modified : 13 Jan 2020 11:40
URI: http://epubs.surrey.ac.uk/id/eprint/853225

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