Short Communication - (2023) Volume 13, Issue 5
Received: 03-Oct-2023, Manuscript No. jbmr-23-117364;
Editor assigned: 05-Oct-2023, Pre QC No. P-117364;
Reviewed: 17-Oct-2023, QC No. Q-117364;
Revised: 23-Oct-2023, Manuscript No. R-117364;
Published:
30-Oct-2023
, DOI: 10.37421/2223-5833.2023.13.528
Citation: Feostl, Derotero. “An Integrated Summary of the
Theoretical Nexus of Knowledge Management and Tourism Business Enterprise
Competitiveness.” Arabian J Bus Manag Review 13 (2023): 528.
Copyright: © 2023 Feostl D. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The tourism industry is a dynamic and highly competitive sector that relies heavily on knowledge management to enhance its competitiveness. In the digital age, where information is readily accessible and markets are rapidly changing, businesses in the tourism sector must effectively manage and leverage their knowledge to remain competitive. This article provides an integrated summary of the theoretical nexus between knowledge management and tourism business enterprise competitiveness, highlighting how knowledge management strategies contribute to the success of tourism businesses. Knowledge management refers to the systematic process of creating, acquiring, organizing, and utilizing knowledge within an organization to achieve its objectives. In the tourism industry, knowledge management involves the gathering, sharing, and utilization of information and expertise to enhance competitiveness [1-3].
Tourism businesses thrive on providing unique and personalized experiences to visitors. Knowledge management helps in gathering and utilizing data to create tailored services and offers, enhancing customer satisfaction and loyalty. Sustainable practices and innovation are critical for tourism businesses. Knowledge management fosters a culture of continuous learning and improvement, enabling businesses to adopt innovative and sustainable strategies. The RBV theory suggests that a firm's competitive advantage is derived from its unique resources, including knowledge. In tourism, firms can gain a competitive edge by leveraging their knowledge resources, such as local expertise, cultural insights, and customer data. This theory emphasizes a firm's ability to adapt and evolve in response to changing market conditions. In tourism, dynamic capabilities, rooted in knowledge management, enable businesses to respond effectively to evolving consumer trends and market dynamics. The SECI (Socialization, Externalization, Combination, Internalization) model, proposed by Nonaka and Takeuchi, explains the processes through which knowledge is created, shared, and utilized within an organization. Tourism businesses apply these processes to acquire, assimilate, and apply knowledge effectively [4]. Leverage data analytics to gain insights into consumer behavior, market trends, and operational efficiency. The platform collects and analyzes data on host and guest preferences, improving matching algorithms and providing tailored recommendations. Marriott uses knowledge management systems to streamline its operations and provide personalized services to guests. They have implemented CRM tools and integrated data analytics for a seamless guest experience [5,6].
Analyzing data enables businesses to make informed decisions and adapt to changing market conditions. Foster a culture of knowledge sharing among employees, partners, and stakeholders. Collaborative knowledge sharing ensures that the collective expertise of the organization is put to use for continuous improvement. Implement CRM systems to collect and manage customer data, preferences, and feedback. These systems help businesses tailor their services to individual customers, enhancing their overall experience. For tourism destinations, knowledge management is crucial. Centralized destination management systems help integrate information about attractions, accommodations, and services, making it easier for visitors to plan their trips. Airbnb's success is partly attributed to its comprehensive knowledge management approach. In the highly competitive tourism industry, knowledge management is not just a strategic advantage; it's a necessity. Effective knowledge management strategies enable businesses to stay agile, personalize customer experiences, innovate, and remain competitive.
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