Defining Market Feasibility Stakeholders' Salience for Sustainable Natural Resource Attractions
The Tsimshian Nation of the northwest coast of British Columbia has the physical land and water and human resources to create a land and water trail system that will attract visitors from around the world. The benefits to the Tsimshian Nation and other stakeholders are both immediate and long-term; creating own source revenues, sustainable development, preservation of the natural landscape, economic diversification and training and management opportunities. Those seeking to benefit, economically, physically, environmentally, politically, socially, financially all hold a valid stake in any future development of the land and water trail. Before developing or upgrading existing facilities, natural resources managers are now required not only to demonstrate public or social worth but also to demonstrate financial validity. A market feasibility study is a tool used to determine the likelihood of financial success, whether it is break-even or a percentage rate of profit. To initiate a market feasibility study stakeholders must be identified that contribute to the development. Within the literature numerous processes have been put forth that can be applied to identifying stakeholders. Most of these processes are descriptive and are based on the original ideas of Freeman (1984). Mitchell, Agle and Wood (1997) build on Freeman and subsequent researchers' work and propose a more pragmatic typology of stakeholders that incorporates a measure of stakeholder salience based on three relationship attributes: power, legitimacy and urgency. The purpose of this study is to test the application of Mitchell et al's., theory by defining parameters for identifying stakeholders relevant to the market feasibility of a natural resource tourism attraction. Results will be in part, defined and interpreted by the public service responsibility of partnering agencies and a set of operating parameters established in consultation with the research team.
Keywords: Tourism, Market Feasibility, Stakeholder, Natural Resource Attraction, Land and Water Trail
Dr. Russell Currie
Assistant Professor, Faculty of Business, Okanagan University College
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Russell Currie's research interests falls broadly into three areas: 1) theoretical and practical applications for market feasibility studies, 2) consumer/tourist behaviours affected by service marketing and 3) the influence and application of technology on tourism marketing, and marketing research. His research findings are documented in refereed articles, trade journals, conference presentations and workshops. Having returned to academics, after a four year stint as CEO of a database marketing company Russell has again become involved in the American Marketing Association and holds the position of Chair Elect for the Tourism, Hospitality and Leisure Special interest group.
Sheilagh Seaton
Assistant Professor, Faculty of Business and Faculty of Science, Okanagan University College
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Sheilagh Seaton is an Assistant Professor with the Faculty of Business and Faculty of Science at Okanagan University College. Sheilagh spent most of her career working in various capacities in the forest resource industry, adventure tourism and business marketing and consulting. Her specialties include computer information systems and small business management. Her research revolves around the integration of business and technology and investment evaluation and decision making.
Ref: S05P0087