Paper Title :Further Inquiries on Growth and Failure of Small Tourism Firm in Malaysia
Author :Muhammad Hakimi Mohd Hussain, Hairul Nizam Ismail
Article Citation :Muhammad Hakimi Mohd Hussain ,Hairul Nizam Ismail ,
(2017 ) " Further Inquiries on Growth and Failure of Small Tourism Firm in Malaysia " ,
International Journal of Management and Applied Science (IJMAS) ,
pp. 23-28,
Volume-3,Issue-10
Abstract : Small tourism firms (STFs) had been acknowledged by many scholars as a catalyst for tourism destination
development as well as key success factors. Research on STFs started in the early 1980’s, where it has been indirectly seen
in tourism entrepreneurship as well as destination developments. However, such studies on STFs only accomplish on
theoretical and empirical aspects which focusing on classification of STFs characters that is similar to other small and
medium enterprises. The gap exists when the classification made only referred to the firm who oriented on the
manufacturing and production of products that is ‘homogeneity’ and formal. Undoubtedly, the existing literature does not
literally cover the understanding of growth and failure of STFs especially in the perspective of financial aspects. Although
some efforts had been done, the evaluations are still not comprehensive and fail in visualizing the accurate understanding of
the existence of STFs and their contributions on tourism development. Previous research on small firm are focusing on
several factors that influence the growth and failure of firms such as entrepreneur characters, firm characters, business
operation practices, business environment, human resources management as well as governance initiatives. Financial aspects
were also seen as a factor that can influence the growth and performance of small firms. However, lack of efforts was done
in identifying a more comprehensive relationship with other aspects. The main objective of this paper is to recognize the
prospects of financial aspects in further research related to growth and failure of STFs. The Systematic Literature Review
approach was used to accomplish the purpose of this paper. Aspects like access to the loans, financial constraint, funding gap
and financing preference were established in understanding more details on the financial influence towards the growth of
STFs. These efforts were seen to give an effect towards the STFs developments as well as the types of initiative given by the
government. The miscarriage in acknowledging the diversity of STFs environments will lead to misunderstanding on their
behavior.
Keywords- small tourism firm, growth, financial capital, entrepreneurship.
Type : Research paper
Published : Volume-3,Issue-10
DOIONLINE NO - IJMAS-IRAJ-DOIONLINE-9812
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Copyright: © Institute of Research and Journals
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Published on 2018-01-03 |
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