The concept of global governance in tourism franchises: a case study of TUI group

Abstract

The study characterizes the global corporate governance in the context of tourism. Risks the TUI Group would face during the implementation of the global governance strategy were assessed. The analysis of management and operational risks revealed that in conditions of global economic uncertainty tourism companies may use risk diversification to ensure flexibility. The risk likelihood assessment justified the need for the use of innovative management models with the aim of reducing the likelihood and impact of risks. An organizational-managerial framework for risk diversification was established that enables companies to cope with the global challenges in a synergistic effort. Finally, the study explored the socio-economic impact of global governance strategy on the competitive regional tourism.