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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/27693

Title: Risks/rewards and an evolving business model: a case study of a small lifestyle business in the UK tourism sector
Authors: Crick, James M.
Chaudhry, Shiv
Crick, David
Keywords: Business models
Entrepreneurial marketing
Family firms
Lifestyle
Planning
Issue Date: 2017
Publisher: Emerald
Citation: CRICK, J.M., CHAUDHRY, S. and CRICK, D., 2017. Risks/rewards and an evolving business model: a case study of a small lifestyle business in the UK tourism sector. Qualitative Market Research, In Press.
Abstract: Purpose: The objective of this case study is to investigate the need for an evolving business model that accounts for social as well as business related risks/rewards considerations; that is, for owner-managers with lifestyle as opposed to growth-oriented objectives. Method: The methodological approach undertaken involved in-depth interviews with the firm’s owner-managers, supplemental interviews with members of staff, observation, plus examining documents from secondary sources. Data gathering involved a period of 3 years to account for an evolving business model over time. Findings: The findings from an instrumental case study demonstrate the need to adapt a firm’s business model in the light of changing circumstances. Additionally in the context of owner-managers with lifestyle as opposed to growth-oriented objectives, to account for social in addition to business related considerations in planning activities. Originality/Value: The originality of the study is to incorporate a longitudinal, case study in to the entrepreneurial marketing literature. Specifically, this offers implications for business support organisations that advise prospective owner-managers; that is, in respect of the need for effective planning in formulating an evolving and enduring business model. Implications also highlight in a business sense, that turnaround of a poorly performing firm may be possible, for example, to overcome initial inadequate marketing planning. However, for owner-managers with lifestyle as opposed to growth-oriented objectives, a combination of both business and social factors need consideration to maintain a work/life balance. A venture that relies on personal as well as business relationships may not be viable if the partners cannot work together no matter if the venture is performing well.
Description: This paper is closed access until it is published.
Version: Accepted for publication
URI: https://dspace.lboro.ac.uk/2134/27693
Publisher Link: http://www.emeraldinsight.com/journal/qmr
ISSN: 1352-2752
Appears in Collections:Closed Access (Business School)

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