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Building business capacity to ensure a sustainable future in tourism

In an uncertain world, finding out what makes a business resilient will help owners and managers build a sustainable future.

“When we think of resilience, organisations think in terms of their response when something goes wrong. Yet, resilience isn’t only about bouncing back when there are unexpected changes,” he says.

“Businesses are changing all the time due to what’s happening in their environment, but they don’t usually think about how they can leverage what they’ve learnt from adapting to small changes and how to use those learnings to cope with big changes.

“Several things have to be in place before a big event so that businesses have the best opportunity to bounce back. You can’t focus only on day-to-day processes and operations to give businesses the best opportunity to respond and recover and thus survive. It’s important along the way to spend time reflecting on why changes were made and why some worked, and others did not.”

Professor Prayag says there are several key pillars businesses can use to build resilience. These include access to finances, adapting product offerings, relationships within supply chains, marketing, networks and community relationships, employee engagement and diversification. He says these are crucial to being resilient when there are rapid and sudden changes.

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