The concept of global governance in tourism franchises: a case study of TUI group

As’ad H Abu-Rumman

doi:10.9770/jesi.2020.8.2(78)

Abstract

The study characterizes the global corporate governance in the context of tourism. Risks the TUI Group would face during the implementation of the global governance strategy were assessed. The analysis of management and operational risks revealed that in conditions of global economic uncertainty tourism companies may use risk diversification to ensure flexibility. The risk likelihood assessment justified the need for the use of innovative management models with the aim of reducing the likelihood and impact of risks. An organizational-managerial framework for risk diversification was established that enables companies to cope with the global challenges in a synergistic effort. Finally, the study explored the socio-economic impact of global governance strategy on the competitive regional tourism.

Highlights

Globalization has broadened the horizons of business markets, increased competition and technological advances
This paper aims to examine the TUI Group strategy for global governance in the regional context
A range of new approaches to corporate governance in the global tourism sector have emerged that are based on the interdependence of national economies

Summary

Introduction

Globalization has broadened the horizons of business markets, increased competition and technological advances. To achieve their presence on the global platform and stimulate international trade, organizations consistently make efforts to adopt global management tactics. It has become imperative for transnational organizations to be strategically effective by developing synergies between operations, capital and human resources (Bhullar, 2018). Implementation of a diversification strategy is a resource-intensive activity, determining the determinants of an effective strategy is necessary for global project managers to make more informed decisions in the management of companies (Shao et al, 2020)

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Methods

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Discussion

Conclusion