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Risk Management Plan

Tourism businesses operate in a rapidly changing environment in which unforseen risks and crises can significantly impact on profitability. Risks to tourism businesses can be as simple as customer cancellations through to a major natural disaster, all which can affect the business’ bottom line and long-term sustainability. A Risk Management Plan outlines the framework and processes for identifying and responding to risks and crises that may impact on a business.Read more

Tourism businesses operate in a rapidly changing environment in which unforseen risks and crises can significantly impact on profitability. Risks to tourism businesses can be as simple as customer cancellations through to a major natural disaster, all which can affect the business’ bottom line and long-term sustainability. A Risk Management Plan outlines the framework and processes for identifying and responding to risks and crises that may impact on a business. One of the landmark reports by the APEC International Centre for Sustainable Tourism in collaboration with the Sustainable Tourism Cooperative Research Centre (STCRC), produced a comprehensive risk management guide for managing crises in tourism. The ‘Tourism Risk Management Guide’ provides a framework for tourism businesses undertaking a tourism risk management process and developing a Risk Management Plan:

 

 

 

 

Source: Tourism Risk Management; An Authoritative Guide to Managing Crises in Tourism, APEC International Centre for Sustainable Tourism, 2006

 

 

A crisis can have a significant affect on a tourism business whether it directly impacts on the business or occurs within the same region, state or country.

Business Operation Tip

A Risk Management Plan should include adequate crisis management strategies for the prevention and preparedness prior to a crisis and response and recovery following a crisis.

For this reason it is important that businesses are aware of the risks and crisis management processes for their own region, state and country. This will assist in effective communication of response and recovery actions when a crisis occurs.

 

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  • Zero Waste Destinations

    Zero Waste is a lofty goal, but with careful management a community or organisation can start working toward reducing waste to landfill or waste to incineration. Zero Waste has many advantages for a Community and an organisation using the 5 R's. Reduce, reuse, recycle, recover and then residual management.
    There are economic as well as environmental advantages to minimising waste firstly you reduce capital outlay, reduce cost of waste disposal, reduce cost of waste disposal infrastructure. The environmental advantages include reduced greenhouse gas production, reduced environmental impact of disposal and transportation of waste.

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