Purchasing is one of the key managerial activities in every organization, its significance having been identified during the 19th century. According to Kasilingam (2012, p.57), the period shortly before the Second World War marked the discovery of the fact that a firm’s success was not so much...

It is impossible to mention the phrase ‘project management’ without introducing the concept of risk management. As Hillson (2016, p.11) states, “risks [are] particularly relevant to projects” suggesting that effective management of risk is an integral ingredient for project success. The...

The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not) and complexity of tools for risk assessment developed over time. The main objective of risk management is to...

Purpose -The recent financial crises in America and Europe have shown emphatically that the findings of the relevant risk management literature concluding that lurking risks can be converted into opportunities have unfortunately not informed policy. The assumption of the risk as a burden, often...

Purpose: This paper provides an important contribution towards the development of a valid, reliable and cost-effective instrument that reduces operational and economic risk levels in public sector organizations. Design/methodology/approach: A quantitative methodology based on the collection of...

Many important economic and political decisions are made by teams. In the economic literature, however, the decision units are frequently modeled as individual economic agents. The paper experimentally investigates the question to what extent observed team decisions under risk are actually...

The competitive dynamics for many firms are rapidly changing, with industry after industry being reshaped and resized by numerous disruptive forces in the form of new digital technologies, deregulation, new business models and the threat of new competitive entrants. A dynamic competitive...

Purpose: This paper provides an important contribution towards the development of a valid, reliable and cost-effective instrument that reduces operational and economic risk levels in public sector organizations. Design/methodology/approach: A quantitative methodology based on the collection of...

In his review of 30 years of research in Prospect Theory, Barberis (2013) notes that support for Prospect Theory had come mainly from the laboratory. In this paper, I write about a recurring phenomenon in real life that is consistent with Prospect Theory predictions in decision-making loss...

Despite increased uncertainty in the environment, the role of uncertainty in people's careers is poorly understood. Those few theories that account for uncertainty portray it as a negative influence on people's career and should therefore be reduced or avoided. This article presents an empirical...