Insurance uptake among small and medium-sized tourism and hospitality enterprises in a resource-scarce environment

Dayour, Frederick; Adongo, Charles Atanga; Kimbu, Albert N.

doi:10.1016/j.tmp.2020.100674

Cited by 23 publications

(39 citation statements)

References 54 publications

(77 reference statements)

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“…Compared with major tourism operators, SMEs fail to obtain adequate supporting budgets and senior management talent (Özgener and İraz, 2006); thus, they are more vulnerable to tourism crises. Given the significance of SMEs for job creation and economic growth (Dayour et al , 2020), it is necessary to study their crisis response measures. We suggest that future research should take into account the diversity of tourism enterprise data sources and multi-level surveys and pay attention to the transformation and survival of small and medium-sized tourism enterprises under the COVID-19 crisis.…”

Section: Discussionmentioning

confidence: 99%

Crisis information, communication strategies and customer complaint behaviours: the case of COVID-19

Liu

Chen

et al. 2021

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Purpose The outbreak of the COVID-19 pandemic plunged global tourism into a huge crisis in 2020. China was confronted with a wave of cancellations by tourism consumers due to COVID-19 and tourist complaints rose dramatically during this period. Although tourism enterprises have quickly introduced measures in response, the effectiveness of targeted policies is expected to be evaluated. Concerned about this phenomenon, this study aims to provide insights into the dim prospects of the tourism industry and to bridge the gap between tourists and enterprises. Design/methodology/approach The current study adopts a two-step method that combines automatic and manual content analysis to contrastively analyse 647 complaints from the Sina platform and the measures of five online travel agencies (OTAs) taken to deal with COVID-19. Findings The results reveal that the COVID-19-related information and policies issued by official departments had a promoting effect on tourist complaints. OTAs were the main target of complainers, and three themes of complaints were identified, namely, cancellation barriers, refund barriers and customer relationship management. Although tourism enterprises’ policies covered most dimensions of the three themes, more detailed and mutually beneficial policies need to be formulated in the face of a new round of cancellations. Originality/value This research attempts to investigate tourism customer complaint behaviours in the case of COVID-19 and to provide tourism enterprises receiving different complaints with practical insights into crisis management. It contributes to simultaneously minimizing business losses and maintaining customer relationships in the service industry, improving the industry’s performance under potential crises in the future.

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Section: Discussionmentioning

confidence: 99%

Crisis information, communication strategies and customer complaint behaviours: the case of COVID-19

Liu

Chen

et al. 2021

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“…The result is supported by Obalola and Ajemunigbohun (2017) findings noting that risk control technique such as insurance can influence behavioural attitude of SMEs operators to managing risks of any kind in their respective enterprises. The studies of Dayour et al (2020) and Chatterjee and Wehrhah (2017) pinpointed at insurance as required financial instrument to enhancing the capacities of Micro, Small and Mediumsized enterprises in…”

Section: Discussion Of Findingsmentioning

confidence: 99%

“…Small and medium enterprises (SMEs) are being acknowledged as moving train that spur the necessary economic growth and development of every nation and the world (Ajemunigbohun, Isimoya, &Elegunde, 2020;Dayour, Adongo, &Kimbu, 2020;Ledwin& Watson, 2019). Observations from previous researches (such as Ayyagari, Demirguc-Kunt, & Maksimovic, 2011;Chodokufa, 2016;Ruchkina, Melnichuk, Frumina, & Mentel, 2017) agreed to the fact that not less than 95 percent of businesses were SMEs which are responsible for 60 percent private sector job chances.…”

Section: Introductionmentioning

confidence: 99%

“…Risk management is, by and large, something that does not require instantaneous attentiveness until some incidences occur (Moore, Pretty, Palich, & Longenecker, 2008as cited in Chodokufa&Chiliya, 2014. Studies (such as Chodokufa, 2016;Chodokufa&Chiliya, 2014;Dayour et al, 2020;Chatterjee &Wehrhah, 2017) had informed that prudent business owners are expected to take time to identify with the numerous types of risks encountered in their businesses and thus navigate means to respond and mitigate either its effects (impact) or size (severity). This, therefore, necessitate the need to carry out the study on the relationship between risk management techniques and insurance buying behaviour among SMEs in Lagos, Nigeria.…”

Section: Introductionmentioning

confidence: 99%

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Risk Management Techniques and Insurance Buying Behaviour: Evidence From Small and Medium-Sized Enterprises in Lagos, Nigeria

ALAKA¹,

Ajemunigbohun²,

BALOGUN³

2022

LJERHRM

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Risk management techniques are important metrics in safeguarding the lives and property of mankind. They influence the behavioural attitude of people to perceive the image of insurance as an intangible, inseparable, variable, and transferable product. Therefore, this study aimed at assessing the effects of risk management techniques on insurance buying behaviour, with specific reference to the perceptions of selected SMEs in Lagos, Nigeria. The study adopted a cross- sectional survey research design. The study population consisted of the total number of registered SMEs recorded in Lagos State at 11,666.Thus, a single-stage cluster sampling technique was employed in the questionnaire distribution and data collection processes. Two hundred and forty-three (243) respondents were used in the study. The statistical technique employed was simple regression. This study confirms the importance of risk management techniques in the behavioural evaluation of insurance purchases in Lagos, Nigeria. It is recommended that insurance providers in Nigeria should attempt to tailor insurance products in a lovable and affordable manner to SMEs’ operators/owners in a bid to improve on their behavioural risk attitudes. More so, interest should be placed on impressive risk management communication and ideal risk financing techniques among SMEs’ owners/operators.

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“…As a collection of suppliers, the tourism industry lays subject to movements in people, weather events, and economic changes that may cause it to flourish (when times are good), or debilitate it (in times of disaster). The tourism industry is reliant on the movement of people (Yang et al, 2020 ) subjecting the industry to be susceptible to various threats of natural disasters, health pandemics (Dayour et al, 2020a , 2020b ), and economic and political upheaval (Cheer & Lew, 2018a , 2018b ). When crisis (due to natural disasters, economic downturn, terrorism, and internal chaos) occur, self-employed individuals and owners of small-scale enterprises in tourism and tourism-related ventures feel the brunt due to dependence on international and domestic tourist arrivals and destination marketing agencies (Dahles & Susilowati, 2015 ; Romão et al, 2016 ; Chowdhury et al, 2019 ).…”

Section: Introductionmentioning

confidence: 99%

SME resilience as a catalyst for tourism destinations: a literature review

2022

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This study proposes a holistic framework, which synthesized the literature on resilience, tourism, and tourism micro small and medium enterprises (MSMEs). The dimensions of resilience were used as lens to highlight the role played by tourism small and medium enterprises (SMEs) and extract strategies for tourism destination resilience amid various disasters. The systematic integrative literature review of 107 documents covered six books and 101 papers. Seven sources are chapters from 6 books and 94 articles from 47 journals. The literature review uses thematic analysis to extract dimensional concepts from extant literature on resilience, tourism resilience, and tourism MSMEs. Key insights on limitations and strategies on resilience emerged from the review. These addressed aspects of governance, economics, environment, and social resilience. This analysis led to the formulation of a framework that underscored the dimensions of tourism. It provides insights for tourism policymakers in drafting strategies to address limitations, which anchored on a more comprehensive perspective. As a contribution to theory, this study expanded the scope of resilience dimensions to address limitations. The strategies intend to fortify MSME resilience as a dominant part of tourism resilience. The insights from the study offer an enhanced view of tourism MSME resilience as crisis and disaster management literature.

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Insurance uptake among small and medium-sized tourism and hospitality enterprises in a resource-scarce environment

Cited by 23 publications

References 54 publications

Crisis information, communication strategies and customer complaint behaviours: the case of COVID-19

Crisis information, communication strategies and customer complaint behaviours: the case of COVID-19

Risk Management Techniques and Insurance Buying Behaviour: Evidence From Small and Medium-Sized Enterprises in Lagos, Nigeria

SME resilience as a catalyst for tourism destinations: a literature review

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