The paper introduces the reader to the concept of Enterprise Risk Management, its aims and utility. The goal of the paper is to encourage readers working in small- to medium sized enterprises in the tourism industry to be more conscious of risks faced by their organisation and to give those readers an example of how, with a comparatively low level of effort, Risk Management procedures might be implemented for their enterprise. To that end the attempt is made to develop a simplified risk management system for small- to medium sized enterprises in the tourism industry based on the Committee of Sponsoring Organizations’ “Enterprise Risk Management – Integrated Framework”.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Statistics used throughout the paper
- Detailed Company Statistic Arrivals / Products / Departures April 2005 - March 2008 (CS-APD)
- Company Statistic Passenger Totals by Source Market, Jan 2001 - Dec 2007 (CS-PSM)
- Government Statistic Monthly Arrivals to Nueva Esparta by Transportation Type (Air/Sea) Jan 2001 - Dec 2006 (GS-ANE)
- Common Measures
- The Company
- History
- Current Situation and Products
- The Main Destination - Venezuela
- Overview
- Main geographical Areas of Activity for Skylimit Travel S.A
- The Home Port Nueva Esparta
- Overview
- The Touristic Value Chain and the Companies Position in it
- Characteristics of seasonality
- Risk Management
- COSO's Enterprise Risk Management - Integrated Framework
- Risk Management for SMEs
- Internal Environment
- Objective Setting
- Event Identification
- Risk Assessment
- Risk Response
- Control Activities
- Information and Communication
- Monitoring
- Summary
Frequently Asked Questions
What is Enterprise Risk Management (ERM)?
Enterprise Risk Management is a concept designed to help organizations identify, assess, and manage risks to achieve their strategic goals and increase utility.
Which framework is used for the simplified risk management system?
The paper bases its simplified system on the Committee of Sponsoring Organizations' (COSO) "Enterprise Risk Management – Integrated Framework".
Is this risk management system suitable for small tourism businesses?
Yes, the goal of the paper is to provide a low-effort example specifically for small- to medium-sized enterprises (SMEs) in the tourism industry.
Which geographic location serves as a case study?
The paper uses statistics and examples from Nueva Esparta, Venezuela, particularly focusing on the activities of Skylimit Travel S.A.
What are the key components of the risk management process described?
The process includes internal environment analysis, objective setting, event identification, risk assessment, response, control activities, communication, and monitoring.
- Quote paper
- BBA Stephan Weidner (Author), 2009, Risk management for small and medium sized incoming tour operators, Munich, GRIN Verlag, https://www.grin.com/document/145466
