ARBITRATION AND TOURISM: A FIELD TO EXPLORE the success or failure of a given company in resorting to arbitration and, therefore, establish the influence of that decision on its performance. Some arbitration centres, such as the ICC, make available some of the most emblematic decisions, but the criteria for selecting these decisions does not allow us to extract, with certainty, acceptable empirical results. Notwithstanding the above, there are several studies that have looked at various aspects of the arbitration process that should be revisited. These studies cover various aspects of arbitration, namely: the agreement to submit a dispute to arbitration; arbitration proceedings; the selection of arbitrators; applicable rules; and arbitration awards. As for the arbitration agreement, the two reasons that appear as the most relevant for making the decision to resort to arbitration are to avoid the state courts and take advantage of the international legal framework. On the other hand, reference to the rightness and fairness of the decision also appear to be the main motivating criteria for resorting to arbitration. As regards arbitration procedures, “The procedures in arbitration present a wide-ranging topic for empirical research, and the existing studies merely scratch the surface of possible research”11. Apart from some studies on the criteria for choosing arbitrators and on the use of preventive measures in arbitration, there has been very little scientific production in this area. As for the decisions themselves, and also their formation process, the existing empirical studies focus essentially on their feasibility, leaving aside the effects that the existence of these decisions may have had on the performance of the companies that promoted them. Drahozal himself presents as future lines of research “a study of the effects of international arbitration on economic growth”. In this context, it is important to assess, although partially, the importance of the use of arbitration for companies, particularly in terms of their performance and competitiveness. And it is necessary to do so, here, abandoning the strictly legal positioning of the arbitration issue, incorporating the dispute and its resolution in the business variables, seeking answers that help managers in the decision-making process on whether or not to resort to arbitration. 3.1 Reflections on organisational strategy The word “strategy” may carry several meanings, depending on the context in which it is used. The most common and frequent meanings have to do with policies, objectives, tactics, goals or programs, then requiring an effort of conceptualization to find the correct definition within the scope that concerns 11 Drahozal, 2006, pag. 291.
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