Unit 4 - Entrepreneurial Risk and Stress in Tourism
Unit 4 - Entrepreneurial Risk and Stress in Tourism
Concept of Stress
• Stress is the reaction when
people have excessive
pressures or other types of
demand placed upon them. It
arises when they worry that
they can’t cope.
• The extent to which
entrepreneurs’ work demands
and expectations exceed their
abilities to perform as venture
initiators, they are likely to
experience stress.
• S = P > R Stress occurs when
the pressure is greater than
the resource.
Causes/Sources of stress in Tourism
• Loneliness
• Immersion in business
• People problems
• Needs to achieve
Loneliness
• There’s the heightened threat of
failure, for one, because with lean
teams and limited finances, smaller
companies are more exposed to a
late payment or the loss of a key
client.
• In the Self-Employment
Review conducted by Julie Deane,
the founder of Cambridge Satchel
Company in the UK, isolation was
cited as one of the biggest challenges
faced by business owners and sole
traders, with almost 30 percent of
respondents saying that it was either
“a big problem” or “something of a
problem”.
• Working from home can be isolating,
and often self-employed
freelancers miss the social interaction
and sense of community in the
workplace.
Immersion in business
• An Immersion is designed
just to look at a very specific
problem, question or event
to identify the root cause,
along with the resulting
symptoms that are causing
challenges to business
prosperity.
• becoming totally immersed
in a project gives high
concentration of time and
effort which ultimately
cause stress.
People problems
Some of the most common people
problems causing stress are: