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From finance to adventure: using ERM as a framework in adventure tourism

Hansen, M, Fyall, A and Spyriadis, T (2020) From finance to adventure: using ERM as a framework in adventure tourism. Managing Sport and Leisure, 27 (6). pp. 540-557. ISSN 2375-0472

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Research question: Can ERM be applied as a risk management framework within adventure tourism? Research methods: The paper is supported by a single-case study into the US aerial adventure industry. Data was collected from 21 interviews of senior managers within the US aerial adventure industry. Interview participants represented public and private organisations, including state agencies, operators and builders. Findings: This paper finds that even with the fragmented and dynamic state of the industry, (IERM) could provide the comprehensive and holistic approach to risk management currently lacking. Practical implications: Aerial adventure parks are uniform, yet the risk management procedures are not, meaning the industry is split into separate groups. A need for Industry-wide Enterprise Risk Management (IERM) is therefore identified. This, in turn, will improve public safety levels, the long-term sustainability of the industry as well as provide it with a competitive advantage. Research contribution: Adventure tourism lacks a risk management framework. This paper furthers academic discussion by proposing IERM as a risk management framework. This, in turn, furthers the academic discussion on ERM, by arguing for its utilisation at an industry level, and contributes to the discussion on the management of aerial adventure visitor attractions, an area currently under-researched.

Item Type: Article
Additional Information: Accepted version requested without corrections. AT 18/01/24
Subjects: H Social Sciences > HF Commerce > HF5001 Business
G Geography. Anthropology. Recreation > G Geography (General) > G149 Travel. Voyages and travels (General) > G154.9 Travel and state. Tourism
Divisions: Liverpool Business School
Publisher: Taylor & Francis
SWORD Depositor: A Symplectic
Date Deposited: 18 Jan 2024 15:48
Last Modified: 22 Jan 2024 14:00
DOI or ID number: 10.1080/23750472.2020.1829987
URI: https://researchonline.ljmu.ac.uk/id/eprint/22330
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