Entrepreneurial action and unprecedented uncertainty : the cases of New South Wales regional hospitality and tourism firms

The purpose of this study is to deepen emerging knowledge concerning the experiences of hospitality and tourism businesses operating in a regional setting in dealing with the uncertain environment caused by the COVID-19 crisis. Considering the conceptual pillars of entrepreneurial action, the study proposes a theoretical framework that extends the understanding of this unsettling and fluidly emerging phenomenon from a firm perspective. On-site, face-to-face interviews with ten owners and managers in regional New South Wales, Australia, contributed to the development of four different conceptual dimensions. First, the non-action-driven opportunity dimension underscores unintended positive outcomes from the crisis, while a second, action-driven opportunity illustrates initiatives business owners/managers implement to anticipate, minimise or exploit emerging opportunities. Third, the non-action-driven threat dimension is associated with negative outcomes from the crisis, and the last, strategy-driven opportunity, suggests changes, for instance, in firms' business model with the goal of creating future opportunities.