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Business Models Of The Tourism Industry: Evidence From Taiwan

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  • Lisheng Hsu

Abstract

Over the past twenty years, tourism factories in Taiwan have become a successful business model of traditional industries that want to enhance corporate value and develop brand awareness. These tourism factories are working factories that incorporate a tourism component. This study finds that family business in tourism factories is based on the previous generation of leaders due to their own technical expertise and adherence to the corporate philosophy. The next generation of leaders can also add tourism and online performance benefits to their existing base by operating through the innovative business model. This approach allows for an increase in corporate value and brand awareness in family business. The tourism factory business model's rapid absorption of new information and continuous optimization of the status quo can lead to greater success in five major aspects of an innovative business model.

Suggested Citation

  • Lisheng Hsu, 2023. "Business Models Of The Tourism Industry: Evidence From Taiwan," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 17(1), pages 123-134.
    • Handle: RePEc:ibf:gjbres:v:17:y:2023:i:1:p:123-134
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    References listed on IDEAS

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    1. Dyson, Robert G., 2004. "Strategic development and SWOT analysis at the University of Warwick," European Journal of Operational Research, Elsevier, vol. 152(3), pages 631-640, February.
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    More about this item

    Keywords

    Tourism Factory; Family Business; Innovative Business Model;
    All these keywords.

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

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