Perspectives of a family-operated company in the tourism industry. Challenges and chances

Book excerpt: Seminar paper from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, University of Applied Sciences Deggendorf, language: English, abstract: This paper aims to show the perspectives of a family-operated company in tourism as well as to analyze the strengths, weaknesses, opportunities and threats with the help of the SWOT analysis. Family businesses are more widespread in Germany than any other form of business. The outstanding importance of this form of enterprise for employment, growth and innovative power of the German economy is repeatedly emphasized in the public discussion. 90% of companies in Germany belong to this form. They generate almost half of the gross domestic product in Europe. The success of family businesses not only depends on the overall economic performance but also, they determine many other factors that are important to our society: sustainability, environmental orientation, ethics, multiculturalism and a strong value-oriented attitude. One of the most important tasks is therefore to strengthen the sustainability of family businesses and to support their corporate development. Well-known companies such as Volkswagen, BMW and Aldi are also among the top 5 of the 1.000 largest family-owned companies in Germany. The owners are not necessarily active in the business, but for more than 61 percent of the top 1000 companies, the owner is also active as a manager or chairperson. One of the most striking features of German family businesses is their combination of tradition and innovation. The agility and innovation power comes not only from the much-vaunted greater flexibility and shorter decision-making of family-owned businesses. They also invest heavily in research and development. Also in the tourism industry, especially in the hotel sector, family businesses play an important role. Especially in this industry, Family businesses shine with customer proximity and service.