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Business Closure in the North American Theme Park Industry: An Analysis of Causes
Title
Business Closure in the North American Theme Park Industry: An Analysis of Causes.
Creator
Kaak, Kelly, Milman, Ady, Breiter Terry, Deborah, Mendez, Jesse, Schuckert, Markus, University of Central Florida
Abstract / Description
Prior to this study, no analysis had focused on the 31% failure rate recorded among theme parks opened in North American between the years 1955 and 2009. This study's purpose was to identify the causes of closures among the 23 failed theme parks and inform the industry of what can be learned from these business failures. Business failure analysis typically stresses the impact of financial ratios and the accuracy of certain negative numbers to predict impending failure, but such studies avoid...
Show morePrior to this study, no analysis had focused on the 31% failure rate recorded among theme parks opened in North American between the years 1955 and 2009. This study's purpose was to identify the causes of closures among the 23 failed theme parks and inform the industry of what can be learned from these business failures. Business failure analysis typically stresses the impact of financial ratios and the accuracy of certain negative numbers to predict impending failure, but such studies avoid examining the underlying causes that lead to poor financial performance in the first place. To focus on this question, this study adopted an events approach to discover the actual event causes that preceded failure and business closure. This study tabulated the frequency of event occurrences among two samples: failed/closed theme parks and a comparable sample of surviving theme parks. Event occurrences were more common among the failed/closed sample than among the surviving theme parks sample. A detailed analysis revealed that six of the 21 events measured were more common among the failed/closed theme park sample: declaring bankruptcy; excessive debt or general unprofitability; low customer satisfaction, defined as not offering enough to do in the park and/or inadequate capacity; development pressures; limited space for expansion; and a location in a regional geographic market. Theme parks failed more frequently due to involuntary event causes than due to voluntary closures. And, in contrast to previous studies, the occurrences of internal environmental events associated with business failure were not significantly different from the occurrences of external environmental events associated with failure. These findings identified events that have preceded failure or closure in theme parks and can provide insights to operators and industry decision makers on how best to prevent or better manage such business closures in the future.
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Date Issued
2018
Identifier
CFE0007026, ucf:52030
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0007026
International Saudi Female Students' Experiences of Acculturation During Their Study at an American Public University in The South (APUS)
Title
International Saudi Female Students' Experiences of Acculturation During Their Study at an American Public University in The South (APUS).
Creator
Alzahrani, Hnan, Cintron Delgado, Rosa, Mendez, Jesse, Owens, J. Thomas, Preston, Michael, University of Central Florida
Abstract / Description
According to my literature review and my reflection of its meaning, few studies have been conducted that explore the adjustment and acculturation experiences of female international students in US colleges and universities specifically on Saudi female students. Therefore, this study explored the academic and socio-cultural experiences of Saudi female students before and after arriving in the US. Furthermore, this study identified the sources of acculturative stress and Saudi female students'...
Show moreAccording to my literature review and my reflection of its meaning, few studies have been conducted that explore the adjustment and acculturation experiences of female international students in US colleges and universities specifically on Saudi female students. Therefore, this study explored the academic and socio-cultural experiences of Saudi female students before and after arriving in the US. Furthermore, this study identified the sources of acculturative stress and Saudi female students' successful strategies for coping with these stressors. Eight Saudi female students participated in one-on-one semi-structured interviews and Moustakas' (1994) transcendental phenomenology was utilized in analyzing students' voices. During the data analysis process, there were five themes that emerged from the data, including sociocultural expectations and issues, motivation for studying abroad, challenges, coping strategies, and adaptation. The results of this study provided recommendations for American and Saudi higher education administrators and faculty concerning how to help Saudi female students adjust to American culture and campus life and provide appropriate academic environments for this growing population.
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Date Issued
2018
Identifier
CFE0007149, ucf:52329
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0007149