NAVIGATING THE DYNAMICS OF SMALL AND FAMILY TOURISTIC BUSINESS MANAGEMENT: STRATEGIES FOR SUCCESS

Elias Tadesse Abate, Gebre Dawit Tefera, Selamawit Habtamu Assefa, Meseret Biruk Girma

Abstract


Small and family businesses represent the backbone of economies worldwide, embodying tradition, heritage, and personal investment. Despite their modest size compared to corporate giants, these enterprises drive employment, generate wealth, and preserve traditional values. However, managing them presents unique challenges, including limited resources and navigating familial dynamics. This article explores the complexities of small and family touristic business management, offering practical strategies for success. From establishing clear governance structures to fostering a culture of innovation and work-life balance, it provides a roadmap for navigating the intricacies of these enterprises and achieving long-term sustainability and prosperity.

 

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Keywords


small and family touristic businesses, economic contribution, tradition and heritage, management challenges, familial dynamics, innovation and adaptation, sustainable growth

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References


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DOI: http://dx.doi.org/10.46827/ejthis.v1i1.1957

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