A problem-orientated and interdisciplinary approach was employed at Alpine Shire, in north-east Victoria, Australia, to explore the concept of contextual vulnerability and adaptability to stressors that include, but are not limited to climatic change. Using a policy sciences approach, the objective was to identify factors that influence existing vulnerabilities that might consequently act as barriers to effective adaptation for the tourism sector. This paper presents initial analyses carried out to clarify adaptation goals through problem definition. Results suggest that many threats, including the effects of climate change, compete for the resources, strategy and direction of local tourism management bodies. An approximation of the common interest, i.e. enhancing capacity in business acumen amongst tourism operators, would facilitate adaptability and sustainability through the enhancement of social capital in this business community.