IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v12y2020i17p7211-d408461.html
   My bibliography  Save this article

The Implementation of Strategic Management in Greek Hospitality Businesses in Times of Crisis

Author

Listed:
  • Sotirios Varelas

    (Department of Economics and Business, Neapolis University Pafos, 2 Danais Avenue, 8042 Pafos, Cyprus)

  • Nikolaos Apostolopoulos

    (Department of Economics and Business, Neapolis University Pafos, 2 Danais Avenue, 8042 Pafos, Cyprus)

Abstract

The aim of this research was to explore the implementation of strategic management approaches in Greek tourism and hospitality businesses during economic crises, in order to further expand our current knowledge of operating in a turbulent environment and embracing novel aspects by linking economic crises with the current literature on the COVID-19 pandemic. This research emphasizes the connection between the strategic management approaches of 131 tourism organizations and hospitality business performance by analyzing entrepreneurs’ opinions and hospitality business markets. The results reveal that a significant percentage of the participants understand and use some strategic management procedures, and some strategy in general, but there is a lack of a concrete strategy for managing the turbulent environment caused by an economic crisis. However, a large percentage of small tourism businesses are completely unaware of strategic management approaches, and their knowledge of implementing a strategy during an economic crisis is limited. The practical implications of this research can act as a navigator of the economic consequences caused by the COVID-19 pandemic.

Suggested Citation

  • Sotirios Varelas & Nikolaos Apostolopoulos, 2020. "The Implementation of Strategic Management in Greek Hospitality Businesses in Times of Crisis," Sustainability, MDPI, vol. 12(17), pages 1-14, September.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:17:p:7211-:d:408461
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/12/17/7211/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/12/17/7211/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ulrike Gretzel & Matthias Fuchs & Rodolfo Baggio & Wolfram Hoepken & Rob Law & Julia Neidhardt & Juho Pesonen & Markus Zanker & Zheng Xiang, 2020. "e-Tourism beyond COVID-19: a call for transformative research," Information Technology & Tourism, Springer, vol. 22(2), pages 187-203, June.
    2. Ovidiu-Niculae Bordean & Anca Borza, 2014. "Strategic Management Practices within the Romanian Hotel Industry," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(Special 8), pages 1238-1238, August.
    3. Tribe, John & Liburd, Janne J., 2016. "The tourism knowledge system," Annals of Tourism Research, Elsevier, vol. 57(C), pages 44-61.
    4. Campos-Soria, Juan A. & Inchausti-Sintes, Federico & Eugenio-Martin, Juan L., 2015. "Understanding tourists' economizing strategies during the global economic crisis," Tourism Management, Elsevier, vol. 48(C), pages 164-173.
    5. Ritchie, Brent W. & Jiang, Yawei, 2019. "A review of research on tourism risk, crisis and disaster management: Launching the annals of tourism research curated collection on tourism risk, crisis and disaster management," Annals of Tourism Research, Elsevier, vol. 79(C).
    6. Álvaro Matias & Peter Nijkamp & Manuela Sarmento (ed.), 2013. "Quantitative Methods in Tourism Economics," Springer Books, Springer, edition 127, number 978-3-7908-2879-5, December.
    7. Dimitrios Buhalis & Aditya Amaranggana, 2015. "Smart Tourism Destinations Enhancing Tourism Experience Through Personalisation of Services," Springer Books, in: Iis Tussyadiah & Alessandro Inversini (ed.), Information and Communication Technologies in Tourism 2015, edition 127, pages 377-389, Springer.
    8. Andreas PAPATHEODOROU & Pavlos ARVANITIS, 2014. "Tourism And The Economic Crisis In Greece - Regional Perspectives," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 39, pages 183-203.
    9. Chia-Lin Chang & Michael McAleer & Vicente Ramos, 2020. "A Charter for Sustainable Tourism after COVID-19," Sustainability, MDPI, vol. 12(9), pages 1-4, May.
    10. Kerstin Bremser & María del Mar Alonso-Almeida & Josep Llach, 2018. "Strategic alternatives for tourism companies to overcome times of crisis," Service Business, Springer;Pan-Pacific Business Association, vol. 12(2), pages 229-251, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ullah, Nazim, 2021. "Fast-Fashion Labels Industry: Strategy Evaluation of H&M," MPRA Paper 108715, University Library of Munich, Germany.
    2. Dong-Shang Chang & Wei-De Wu, 2021. "Impact of the COVID-19 Pandemic on the Tourism Industry: Applying TRIZ and DEMATEL to Construct a Decision-Making Model," Sustainability, MDPI, vol. 13(14), pages 1-28, July.
    3. Hoon-Ku Sul & Xiaoting Chi & Heesup Han, 2020. "Measurement Development for Tourism Destination Business Environment and Competitive Advantages," Sustainability, MDPI, vol. 12(20), pages 1-20, October.
    4. Luz Natalia Tobón Perilla & Elena Urquía Grande & Elisa Isabel Cano Montero, 2022. "Economic and Organizational Impact of COVID-19 on Colombia’s Tourism Sector," Sustainability, MDPI, vol. 14(20), pages 1-21, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. José Miguel Rodríguez-Antón & María del Mar Alonso-Almeida, 2020. "COVID-19 Impacts and Recovery Strategies: The Case of the Hospitality Industry in Spain," Sustainability, MDPI, vol. 12(20), pages 1-17, October.
    2. Anca Antoaneta Vărzaru & Claudiu George Bocean & Marian Cazacu, 2021. "Rethinking Tourism Industry in Pandemic COVID-19 Period," Sustainability, MDPI, vol. 13(12), pages 1-19, June.
    3. Davide Provenzano & Serena Volo, 2022. "Tourism recovery amid COVID-19: The case of Lombardy, Italy," Tourism Economics, , vol. 28(1), pages 110-130, February.
    4. Yang, Yang & Zhang, Carol X. & Rickly, Jillian M., 2021. "A review of early COVID-19 research in tourism: Launching the Annals of Tourism Research's Curated Collection on coronavirus and tourism1," Annals of Tourism Research, Elsevier, vol. 91(C).
    5. Azzeddine Madani & Saad Eddine Boutebal & Hinde Benhamida & Christopher Robin Bryant, 2020. "The Impact of Covid-19 Outbreak on the Tourism Needs of the Algerian Population," Sustainability, MDPI, vol. 12(21), pages 1-11, October.
    6. Foris Diana & Matei Cristina-Alexandra & Foris Tiberiu, 2021. "Exploring Solutions and the Role of GDS Technology in Crossing the Current Pandemic Context in Tourism," European Journal of Tourism, Hospitality and Recreation, Sciendo, vol. 11(1), pages 91-101, December.
    7. Michał Roman & Monika Roman & Emilia Grzegorzewska & Piotr Pietrzak & Kamil Roman, 2022. "Influence of the COVID-19 Pandemic on Tourism in European Countries: Cluster Analysis Findings," Sustainability, MDPI, vol. 14(3), pages 1-17, January.
    8. Joanna Kowalczyk-Anioł & Marek Grochowicz & Robert Pawlusiński, 2021. "How a Tourism City Responds to COVID-19: A CEE Perspective (Kraków Case Study)," Sustainability, MDPI, vol. 13(14), pages 1-22, July.
    9. Maria Palazzo & Iza Gigauri & Mirela Clementina Panait & Simona Andreea Apostu & Alfonso Siano, 2022. "Sustainable Tourism Issues in European Countries during the Global Pandemic Crisis," Sustainability, MDPI, vol. 14(7), pages 1-21, March.
    10. Haseeb Ur Rehman Khan & Chen Kim Lim & Minhaz Farid Ahmed & Kian Lam Tan & Mazlin Bin Mokhtar, 2021. "Systematic Review of Contextual Suggestion and Recommendation Systems for Sustainable e-Tourism," Sustainability, MDPI, vol. 13(15), pages 1-27, July.
    11. Ksenija DumiÄ ić & Josip Mikulić & Anita ÄŒeh ÄŒasni, 2017. "Tourism spending behaviour before and after the 2008 financial crisis," Tourism Economics, , vol. 23(1), pages 223-228, February.
    12. Marco Valeri & Rodolfo Baggio, 2021. "A critical reflection on the adoption of blockchain in tourism," Information Technology & Tourism, Springer, vol. 23(2), pages 121-132, June.
    13. Leon John Mach, 2021. "Surf Tourism in Uncertain Times: Resident Perspectives on the Sustainability Implications of COVID-19," Societies, MDPI, vol. 11(3), pages 1-15, July.
    14. Kim, Kun & Park, Oun-joung & Yun, Seunghyun & Yun, Haejung, 2017. "What makes tourists feel negatively about tourism destinations? Application of hybrid text mining methodology to smart destination management," Technological Forecasting and Social Change, Elsevier, vol. 123(C), pages 362-369.
    15. Uglješa Stankov & Ulrike Gretzel, 2020. "Tourism 4.0 technologies and tourist experiences: a human-centered design perspective," Information Technology & Tourism, Springer, vol. 22(3), pages 477-488, September.
    16. Bui, Huong T. & Saito, Hiroaki, 2022. "Resource convergence for post disaster recovery," Annals of Tourism Research, Elsevier, vol. 93(C).
    17. Bach Quang Ho & Yuki Inoue, 2020. "Driving Network Externalities in Education for Sustainable Development," Sustainability, MDPI, vol. 12(20), pages 1-16, October.
    18. Da Van Huynh & Thuy Thi Kim Truong & Long Hai Duong & Nhan Trong Nguyen & Giang Vu Huong Dao & Canh Ngoc Dao, 2021. "The COVID-19 Pandemic and Its Impacts on Tourism Business in a Developing City: Insight from Vietnam," Economies, MDPI, vol. 9(4), pages 1-17, November.
    19. Tian Wang & Zhaoping Yang & Xiaodong Chen & Fang Han, 2022. "Bibliometric Analysis and Literature Review of Tourism Destination Resilience Research," IJERPH, MDPI, vol. 19(9), pages 1-16, May.
    20. Yamilé Pérez Guilarte & Daniel Barreiro Quintáns, 2019. "Using Big Data to Measure Tourist Sustainability: Myth or Reality?," Sustainability, MDPI, vol. 11(20), pages 1-19, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:12:y:2020:i:17:p:7211-:d:408461. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.