Investigating tensions experienced by decision-makers during a business rescue event
Southern African Journal of Entrepreneurship and Small Business Management
| Field | Value | |
| Title | Investigating tensions experienced by decision-makers during a business rescue event | |
| Creator | du Toit, Andria C. Pretorius, Marius | |
| Description | Background: Practice has shown that decision-makers experience various tensions during a business rescue event, which adds to the complexity of their decision-making. Even though business rescue has been operational for more than a decade, decision-makers require training and development beyond the scope of the legal and finance realms to cope with the related tensions.Aim: This study endeavoured to report on the tensions experienced by decision-makers, classify them into puzzles, dilemmas, trade-offs and/or paradoxes, and to identify practical responses to the most commonly experienced tensions.Setting: The study was conducted in South Africa and made use of decision-makers in the field of business rescue.Methods: An interpretative phenomenological analysis was completed using 12 exceptionally experienced decision-makers. A multi-method approach was employed using in-depth interviews and follow-up questionnaires, validated with the literature after the completion of a pre-test.Results: Findings reported 16 major tensions, consisting of one puzzle, two dilemmas, four trade-offs and nine paradoxes with appropriate responses used in practice by participants.Conclusion: Significant findings include the differentiation in response to tensions based on the level of sophistication of stakeholders involved, the implementation of a team approach to decision-making and the use of empathy to decrease tension.Contribution: An insider’s perspective is provided into tensions experienced during a business rescue event, which may assist in the training of novice decision-makers. Participants used anecdotal evidence to verbalise their approaches and/or strategies to managing tension, which can be dissected and used to collate shared practice among decision-makers. | |
| Publisher | AOSIS Publishing | |
| Date | 2023-08-31 | |
| Identifier | 10.4102/sajesbm.v15i1.714 | |
| Source | The Southern African Journal of Entrepreneurship and Small Business Management; Vol 15, No 1 (2023); 13 pages 2071-3185 2522-7343 | |
| Language | eng | |
| Relation |
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https://sajesbm.co.za/index.php/sajesbm/article/view/714/806
https://sajesbm.co.za/index.php/sajesbm/article/view/714/807
https://sajesbm.co.za/index.php/sajesbm/article/view/714/808
https://sajesbm.co.za/index.php/sajesbm/article/view/714/809
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