A Theoretical Analysis of Strategic Resources

Implications for Tourism Destinations

Abstract

The goal of every business is to achieve its objectives or targets efficiently and effectively. Globally, businesses are trying to improve their skill set and increase their industry assets by optimizing the opportunities available in the market and managing the problems and challenges. Consequently, the only way for them to achieve this is to know their working environment because the dynamic external and internal environment has many variables affecting the firm, specifically its resources and market value. Empirical studies have majorly focused on strategic firm resources in Small and Medium Enterprises and firms in general, with few if any examining the resources in the tourist destinations. Attractiveness of a tourism destination has mainly been achieved through strategic positioning of the natural and man-made resources, which are the core resources in a tourist destination. Therefore, there is need for tourism destinations to rethink their strategy in order to strategically position itself in the market.  This article seeks to evoke a discussion about strategic resources in tourism destinations, by addressing the following questions: what informs the concept strategic resources, what are the theories informing strategic resources and what are the measurements of strategic resources that can gage performance of tourism destination