The Risk Perception of Family Business Owner-Manager in the Tourism Industry

2021 ◽  
pp. 126-153
Author(s):  
Gundula Glowka ◽  
Martin Tusch ◽  
Anita Zehrer
Keyword(s):  
Decision Making ◽  
Risk Perception ◽  
Qualitative Interviews ◽  
Tourism Industry ◽  
Business Owner ◽  
Complex Task ◽  
Long Run ◽  
Decision Making Processes ◽  
High Degree

Successfully dealing with risk has become a major challenge for firms to stay competitive in the long run. The tourism industry is vulnerable to any crisis and therefore has to deal with a high degree of uncertainty including many risks. The Alpine tourism industry is shaped by small and medium-structured family businesses. Such firms have more informal decision-making processes and more generations involved, while risk taking depends on the decisions of an owner-manager. Understanding the risk perception owner-managers is thus a complex task. This study conducts n=12 qualitative interviews with senior and junior owner-managers of family SME in tourism. Understanding the risk perception for tourism family SME might therefore contribute to build resilience and long-term competitiveness.

scholarly journals Exploitation Policy in the Aspect of Industry 4.0 Concept – Overview of Selected Research

2018 ◽  
Vol 1 (1) ◽  
pp. 353-359
Author(s):  
Anna Timofiejczuk ◽  
Jaroslaw Brodny ◽  
Andrzej Loska
Keyword(s):  
Decision Making ◽  
Product Development ◽  
Industry 4.0 ◽  
Maintenance Management ◽  
Research Results ◽  
Production Processes ◽  
Decision Making Processes ◽  
Technical Systems

Abstract The article is a review of completed research on developed and implemented innovative and technologically advanced technical systems. According to the Industry 4.0 concept they can have a significant impact on the efficiency of production processes and product development. In this perspective, the key aspect seems to be maintenance management of technical systems, realized both in the operate phase as well as during service and repair works. There were discussed research results of authors and developed application solutions supporting decision-making processes, in terms of three main periods of realization of exploitation processes: short, medium and long-term.

Getting to the Future

2021 ◽  
pp. 109-128
Author(s):  
Michael K. MacKenzie
Keyword(s):  
Decision Making ◽  
The Political ◽  
Collective Decision Making ◽  
Political Dynamics ◽  
The Future ◽  
Decision Making Processes ◽  
Electoral Cycles ◽  
Shared Futures ◽  
Deliberative Processes

This chapter makes three arguments in support of the claim that we need inclusive deliberative processes to shape the future in collectively intentional, mutually accommodating ways. First, inclusive collective decision-making processes are needed to avoid futures that favour the interests of some groups of people over others. Second, deliberative processes are needed to shape our shared futures in collectively intentional ways: we need to be able to talk to ourselves about what we are doing and where we want to get to in the future. Third, deliberative exchanges are needed to help collectivities avoid the policy oscillations that are (or may be) associated with the political dynamics of short electoral cycles. Effective processes of reciprocal reason giving can help collectivities maintain policy continuity over the long term—when continuity is justified—even as governments and generations change.

scholarly journals Qualifying the Sustainability of Novel Designs and Existing Solutions for Post-Disaster and Post-Conflict Sheltering

2020 ◽  
Vol 12 (3) ◽  
pp. 890 ◽  
Author(s):  
Lara Alshawawreh ◽  
Francesco Pomponi ◽  
Bernardino D’Amico ◽  
Susan Snaddon ◽  
Peter Guthrie
Keyword(s):  
Refugee Camps ◽  
Post Conflict ◽  
Long Run ◽  
Decision Making Processes ◽  
Pros And Cons ◽  
Displaced People ◽  
Short And Long Term ◽  
Future Work ◽  
Post Disaster

During the course of 2018, 70.8 million people globally were forcibly displaced due to natural disasters and conflicts—a staggering increase of 2.9 million people compared to the previous year’s figure. Displaced people cluster in refugee camps which have very often the scale of a medium-sized city. Post-disaster and post-conflict (PDPC) sheltering therefore represents a vitally important element for both the short- and long-term wellbeing of the displaced. However, the constrained environment which dominates PDPC sheltering often results in a lack of consideration of sustainability dimensions. Neglecting sustainability has severe practical consequences on both people and the environment, and in the long run it also incurs higher costs. It is therefore imperative to quickly transfer to PDPC sheltering where sustainability considerations are a key element of the design and decision-making processes. To facilitate such transition, this article reviews both ‘existing solutions’ and ‘novel designs’ for PDPC sheltering against the three pillars of sustainability. Both clusters are systematically categorized, and pros and cons of solutions and designs are identified. This provides an overview of the attempts made so far in different contexts, and it highlights what worked and what did not. This article represents a stepping-stone for future work in this area, to both facilitate and accelerate the transition to sustainable sheltering.

scholarly journals Factors Affecting Long-Term-Care Residents' Decision-Making Processes as They Formulate Advance Directives

2005 ◽  
Vol 45 (5) ◽  
pp. 626-633 ◽  
Author(s):  
H. C. Lambert ◽  
M. A. McColl ◽  
J. Gilbert ◽  
J. Wong ◽  
G. Murray ◽  
...  
Keyword(s):  
Decision Making ◽  
Advance Directives ◽  
Long Term Care ◽  
Term Care ◽  
Factors Affecting ◽  
Decision Making Processes

scholarly journals Using a coupled agent-based modeling approach to analyze the role of risk perception in water management decisions

2019 ◽  
Vol 23 (5) ◽  
pp. 2261-2278 ◽  
Author(s):  
Jin-Young Hyun ◽  
Shih-Yu Huang ◽  
Yi-Chen Ethan Yang ◽  
Vincent Tidwell ◽  
Jordan Macknick
Keyword(s):  
Decision Making ◽  
Risk Perception ◽  
Regional Scale ◽  
Agent Based ◽  
Natural Processes ◽  
Complex Adaptive ◽  
San Juan River ◽  
Human Decision ◽  
Decision Making Processes ◽  
Engineered Systems

Abstract. Managing water resources in a complex adaptive natural–human system is a challenge due to the difficulty of modeling human behavior under uncertain risk perception. The interaction between human-engineered systems and natural processes needs to be modeled explicitly with an approach that can quantify the influence of incomplete/ambiguous information on decision-making processes. In this study, we two-way coupled an agent-based model (ABM) with a river-routing and reservoir management model (RiverWare) to address this challenge. The human decision-making processes is described in the ABM using Bayesian inference (BI) mapping joined with a cost–loss (CL) model (BC-ABM). Incorporating BI mapping into an ABM allows an agent's psychological thinking process to be specified by a cognitive map between decisions and relevant preceding factors that could affect decision-making. A risk perception parameter is used in the BI mapping to represent an agent's belief on the preceding factors. Integration of the CL model addresses an agent's behavior caused by changing socioeconomic conditions. We use the San Juan River basin in New Mexico, USA, to demonstrate the utility of this method. The calibrated BC-ABM–RiverWare model is shown to capture the dynamics of historical irrigated area and streamflow changes. The results suggest that the proposed BC-ABM framework provides an improved representation of human decision-making processes compared to conventional rule-based ABMs that do not take risk perception into account. Future studies will focus on modifying the BI mapping to consider direct agents' interactions, up-front cost of agent's decision, and upscaling the watershed ABM to the regional scale.

Manufacturer‐Distributor Relationships and Channel Service Quality

1996 ◽  
Vol 7 (2) ◽  
pp. 33-42 ◽  
Author(s):  
Jos Lemmink ◽  
Martin Wetzels ◽  
Kitty Koelemeijer
Keyword(s):  
Service Quality ◽  
Customer Service ◽  
Price Competition ◽  
Customer Perceptions ◽  
Long Run ◽  
Customer Dependence ◽  
Customer Services ◽  
Characteristics Development ◽  
High Degree

In today's marketplace for fast‐moving consumer goods, many brands exist with similar characteristics. Development and maintenance of product differentiation becomes increasingly difficult to realize for manufacturers. Consequently, non‐price competition particularly by offering high quality customer services, becomes increasingly important as a marketing instrument by producers towards distributors. In this article, an empirical investigation has been conducted into the interrelationships between customer services offered by an international beverage manufacturer and customer sentiments towards partnership and dependence. It appears that despite the well‐established premium brand offered by the manufacturer and the context of a long‐term relationship, customer service significantly affects customer dependence and closeness of the relationship. Furthermore, a high degree of partnership increases customer perceptions of dependence and quality of services. In the long run, manufacturer‐distributor relationships striving for service quality and partnership will benefit from mutual reinforcement.

The sustainable executive: antecedents of managerial long-term orientation

2017 ◽  
Vol 8 (2) ◽  
pp. 179-195 ◽  
Author(s):  
Dietmar Sternad ◽  
James J. Kennelly
Keyword(s):  
Organizational Level ◽  
Temporal Orientation ◽  
Managerial Behavior ◽  
Content Type ◽  
Long Run ◽  
Managerial Myopia ◽  
Decision Making Processes ◽  
Sustainable Organizations ◽  
Short Termism

Purpose The purpose of this paper is to explain how managers incorporate long-term thinking in their decision-making processes as an antipode to a widely criticized managerial short-termism. For this purpose, the authors present a model of the influence of institutional, cultural and individual temporal factors on managerial long-term orientation (LTO). Design/methodology/approach This conceptual paper is based on a multidisciplinary review of the literature on the causes of managerial LTO. Findings It is proposed that managerial LTO is influenced by cultural and institutional factors on both a societal and an organizational level, as well as by managers’ individual temporal predispositions and the strengths of relational commitments with different stakeholder groups. It is further expected that managerial LTO has an influence on sustainability-related managerial behavior. Practical implications As the presented model reveals the main factors that orient managers toward the long run in their decisions, it can also be used as a framework to evaluate policies to curb managerial myopia on both an organizational and a societal level. Social implications As sustainability is intrinsically linked with the ability to think and act in the long term, understanding the factors that influence managerial LTO can also contribute to building more sustainable organizations. Originality/value One of the main contributions of this paper is that it highlights the link between reciprocal relationships and LTO, an aspect that has not yet been the focus of the literature on the temporal orientation of managers.

scholarly journals Technology, Public Participation, and the American Bureaucracy

2021 ◽  
Author(s):  
Christopher George Torres
Keyword(s):  
Decision Making ◽  
Public Participation ◽  
Federal Government ◽  
Science And Technology Studies ◽  
Science And Technology ◽  
Qualitative Interviews ◽  
Environmental Literacy ◽  
The Political ◽  
Policy Entrepreneurs ◽  
Decision Making Processes

This dissertation analyzes three participatory technology assessment (pTA) projects conducted within United States federal agencies between 2014 and 2018. The field of Science and Technology Studies (STS) argues that a lack of public participation in addressing issues of science and technology in society has produced undemocratic processes of decision-making with outcomes insensitive to the daily lives of the public. There has been little work in STS, however, examining what the political pressures and administrative challenges are to improving public participation in U.S. agency decision-making processes. Following a three-essay format, this dissertation aims to fill this gap. Drawing on qualitative interviews with key personnel, and bringing STS, policy studies, and public administration scholarship into conversation, this dissertation argues for the significance of “policy entrepreneurs” who from within U.S. agencies advocate for pTA and navigate the political controls on innovative forms of participation. The first essay explores how the political culture and administrative structures of the American federal bureaucracy shape the bureaucratic contexts of public participation in science and technology decision-making. The second essay is an in-depth case study of the role political controls and policy entrepreneurs played in adopting, designing, and implementing pTA in NASA’s Asteroid Initiative. The third essay is a comparative analysis of how eight political and administrative conditions informed pTA design and implementation for NASA’s Asteroid Initiative, DOE’s consent-based nuclear waste siting program, and NOAA’s Environmental Literacy Program. The results of this dissertation highlight how important the political and administrative contexts of federal government programs are to understanding how pTA is designed and implemented in agency science and technology decision-making processes, and the key role agency policy entrepreneurs play in facilitating pTA through these political and administrative contexts. This research can aid STS scholars and practitioners better anticipate and mitigate the barriers to embedding innovative forms of public participation in U.S. federal government science and technology program design and decision-making processes.

scholarly journals Behavioral analysis of mergers and acquisitions decisions

2019 ◽  
Vol 15 (3) ◽  
pp. 8-16 ◽  
Author(s):  
Daisuke Asaoka
Keyword(s):  
Decision Making ◽  
Mergers And Acquisitions ◽  
Conflicts Of Interest ◽  
Fair Value ◽  
Endowment Effect ◽  
Strategic Decisions ◽  
Corporate Decisions ◽  
Decision Making Processes ◽  
High Degree ◽  
Governance Architecture

Mergers and acquisitions (M&A) are among the key strategic decisions that firms make. But the problem is that they often result in failure and impairment loss, with the fair value of the acquisition price becoming an issue that poses the risk of overvaluation. The purpose of this paper is to explain the nature of this risk by shedding light on the errors and biases of decision-making managers and directors and their effect on decision-making processes which involve a high degree of discretion and judgment. The paper finds that biases causing overvaluation include overconfidence by managers; an escalation of bidding prices leading to winner’s curse; anchoring in pricing; the endowment effect; and hindsight and confirmation biases. Corporate governance architecture can be designed to mitigate these biases while preserving the positive aspects of overconfidence, such as its promoting of productive and creative activities and coherent internal management. But it is not a panacea since independent directors also have biases and conflicts of interest inherent in the mechanism. Advancements in the understanding of human emotion and psychology promise to protect shareholders by deepening our understanding of corporate decisions.

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