Constraints to the efficacy of risk management process in entrepreneurial companies

• Autor(a) principal: Matos, Rute Lago
• Data de Publicação: 2005
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10400.12/4983
• topic: Entrepreneurs self-schemas; Decision-making process; Entrepreneurial organisational environment and risk management; Características intrínsecas dos empreendedores; Processos de decisão; Contexto organizacional e gestão de risco

This paper highlights potential factors that affect the degree of efficacy of a formal risk management framework in entrepreneurial organisations. The understanding of entrepreneur’s self-schemas, entrepreneurial organisational culture and working environment is crucial to evaluate the efficacy of a risk management process. This research pointed out two main issues: i) the entrepreneurial decision making process with presence of biases and heuristics in judgement under uncertainty; and ii) the entrepreneurial organisational context that might create constraints to the implementation of a risk management framework.