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Crisis management as a tool to affect an economic downfall

Cahill, Stephen (2021) Crisis management as a tool to affect an economic downfall. Undergraduate thesis, Dublin, National College of Ireland.

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Abstract

This comparative study will focus on the ‘property crash’ of 2008 and the coronavirus pandemic. The property crash was the cause of the major recession in Ireland between 2008 and 2012, leaving the hospitality industry in Ireland in a disastrous state. Similar to the effect that the coronavirus pandemic has had on the hospitality industry, making hotels in Ireland permanently closed for long periods of time. Which ultimately caused many hotels in Ireland being unable to reopen due to not having sufficient funds available to reopen. Comparisons can be made between the two periods of time as they have both affected hotels in Ireland in major ways.

The recession reduced the amount of tourism in Ireland and as Ireland was in recession Irish citizens saved their money instead of spending it as the Irish economy was struggling. While the forced closure of hotels due to the coronavirus pandemic in Ireland resulted in hotels being unable to operate for long periods of time and struggling to survive. The paper seeks to investigate how crisis management was used during these two significant periods of time in relation to hotels in Ireland, particularly the south Dublin and Wicklow region. By investigating a smaller area, it gave the author a more in-depth research and gave them the ability to extract the most from their interviews in providing the relevant data for the study. The study showcased that even in the literature review it was difficult to find any support that hotels in Ireland received during the ‘property crash’ as opposed to the mammoth support that hotels received during the coronavirus pandemic, such as grants and wage subsidy schemes. This gave hotels a greater opportunity to survive as opposed to during the ‘property crash’ which they were left to survive on their own.

Problems did arise in the study as there was very little research on supports the hotels received during the ‘property crash’ which made it challenging and also the research relied on the interview process to which this was put to the interviewee’s, this indicated that crisis management was not used effectively by the government during the property crash. Also, at the time of doing the interviews there were restrictions in place due to the continued effects of the coronavirus pandemic which made interview’s challenging. The interviews had to be done through a different medium such as email interviews, and over Microsoft teams as you could not meet up with people at the time.

Item Type: Thesis (Undergraduate)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > Management of Change
H Social Sciences > HC Economic History and Conditions > Economic Recession
H Social Sciences > HD Industries. Land use. Labor > Specific Industries > Hospitality Industry
D History General and Old World > DA Great Britain > Ireland
Divisions: School of Business > BA (Honours) in Business Studies
Depositing User: Clara Chan
Date Deposited: 03 Feb 2022 16:54
Last Modified: 03 Feb 2022 16:54
URI: https://norma.ncirl.ie/id/eprint/5382

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