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 themto achieve this is to knowtheir working environment because thedynamic external and internal environment has many variables affecting the firm,specificallyits resources and market value.Empirical studies have majorly focusedon strategic firm resources inSmall and Medium Enterprises and firms in general, with few if any examining the resourcesin the touristdestinations. Attractiveness of a tourism destination has mainlybeen achieved through strategic positioningof the natural and man-made resources, which are thecore resources in a tourist destination. Therefore, thereis 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 intourismdestinations, by addressing the following questions: what informs the conceptstrategic resources, what are the theories informing strategic resources and what arethe measurements ofstrategic resourcesthat can gage performance oftourismdestination