The research presented in this thesis considers the question of whether individual-level risk preferences are consistent or inconsistent across decision domains. For example, do people make the same decisions with respect to work, health and finance? Some previous authors have suggested that risk preferences are inconsistent, e. g. Kahneman and Tversky (1979), while others have put forward the idea that people have generalised tendencies to take or avoid risks, e. g. Sitkin and Pablo (1992). The work of Sitkin and Pablo was drawn upon to develop hypotheses concerning the conceptualisation and construction of risk propensity. Risk propensity was operationalised as the degree of consistency of cross-domain risk preferences. It was proposed that a propensity to take or avoid risks is associated with whether individuals have consistent tendencies across different decision domains, that personality will be a key predictor of risk propensity, and that inconsistent cross-domain risk preferences will be associated with risk domain-specific cognitive and emotional aspects of decision making. A survey measure was developed to assess risk and decision preferences both across and within the domains of work, health and finance. Biographical and personality factors were also measured. The sample comprised 360 participants drawn from five sample groups chosen to capture a range of risk preferences. The results showed that risk propensity can be conceptualised and measured in terms of the consistency of cross-domain risk preferences. People who were consistent in their risk preferences were characterised by the personality traits of emotional stability, low extroversion, low openness and high agreeableness. Additionally, consistent risk preferences were associated with relative consistency of attention to situational information and perceived risk. The majority of participants, however, had different risk preferences in different domains, and showed variability in their decision preferences. The implications of the research for understanding risk propensity and risk management are discussed.

This paper uses the Dutch panel data from LISS, Longitudinal Internet Studies for the Social Science in trying to establish if a relationship between individuals’ risk propensity and job search activity is present. When looking at employed and unemployed job seekers jointly, a positive significant relationship is present. Looking at these groups separately shows that the relationship is driven by employed job seekers. No relationship for unemployed job seekers can be identified when being looked at separate. However, when taking into account possible biases from changes in risk propensity over time as well as the classification of actively searching individuals, no relationship is present at all. We hence are cautious towards the significant estimates received that potentially could suffer from biases. Further studies should be made with a bigger sample of individuals and a continuously updated measure of risk propensity to minimizing potential bias.

In one of the largest and most important industries in Sweden, the construction industry, the success of the projects can be closely related to how uncertainties of outcomes or risk are managed. For a construction project to be successful, different individuals and organizations need to provide their knowledge and experience to fulfill the project scope. Risk is something that, if properly managed, will make the project achieve and perhaps surpass these goals and if not, make the project underperform. There exist frameworks for how risk should be managed and also theories for how past experience influence future decisions. How risk within construction projects are managed is related to the experience of the team members as well as top management’s insight in the risk management process. Through a qualitative approach, based on literature as well as interviews, this master thesis provides an insight into how the key project participants are managing risk. Further, this study examines possible shortcomings with risk management practices and proposes management strategies for these. In this study, consultants working with both developers and contractors have been included to share their view. The results of this study show that current risk management practices deviate from the practice proposed within research and industry related literature. This makes the construction projects to rely heavily on individual’s knowledge and there is a risk that lessons learned will not be spread within the organization or the society. Further, risk and opportunities are often managed within the same framework which does not provide for risk to be managed accordingly and opportunities to be exploited. It is proposed that professionals within the industry have a risk propensity that is rather unchanged by gaining more experience but there exists a shift in how risk is perceived. These findings are closely related to how much insight top management within the organization have. Today, most efforts are concentrated on how the project is performing in relation to the budget and schedule which makes risk management a reactive rather than a proactive measure. / I en av Sveriges största och viktigaste branscher, byggbranschen, kan byggprojektens resultat vara nära relaterat till hur osäkerheter samt risk hanteras. För att ett byggprojekt ska bli framgångsrikt måste alla inblandande parter bidra med sina kunskaper och erfarenheter för att uppfylla projektets mål. Risk är någonting som genom en bra hantering antingen kan överträffa dessa mål eller istället göra att projektet misslyckas att nå dessa. Det finns ramverk för hur risker ska hanteras samt teorier för hur tidigare erfarenheter påverkar framtida beslut. Hur risker inom byggprojekt hanteras är relaterat till projektgruppernas erfarenhet samt företagsledningens insyn i riskhanteringsprocessen. Genom en kvalitativ studie baserad på såväl litteratur som intervjuer ger denna masteruppsats en inblick i hur de viktigaste projektdeltagarna hanterar risk. Vidare undersöker denna uppsats även vilka risker själva riskhanteringsprocessen har samt föreslår åtgärder för dessa. I denna studie har konsulter med erfarenheter av att arbeta med både beställare och byggentreprenörer inkluderats för att få en så bred syn som möjligt på hanteringen från de olika parterna. Resultatet av denna studie visar att den nuvarande riskhanteringsprocessen inom flera av organisationerna avviker från den modell som förespråkas av forskning och branschorganisationer. Detta gör att organisationerna ofta förlitar sig på individernas kunskap och att lärdomar sprids dåligt inom organisationen och samhället. Vidare så hanteras risker och möjligheter ofta på samma sätt vilket innebär att risker inte hanteras rätt och möjligheter utnyttjas inte. Dessutom verkar yrkesverksamma inom branschen ha en riskbenägenhet som är relativt oförändrad av erfarenhet men deras uppfattning av risk förskjuts. Resultaten är nära relaterade till hur stor insyn och delaktighet organisationernas ledning har i själva riskhanteringsprocessen. Idag handlar det mycket om att ledningen har en reaktiv inställning till risker, efter att dessa fallit ut, istället för att ta till proaktiva åtgärder.

There is consensus among entrepreneurship scholars regarding the importance of entrepreneurship toward the economies of countries. There is sufficient evidence to support the view that entrepreneurs are characterised by unique characteristics. Entrepreneurship and entrepreneurial orientation have been widely studied and entrepreneurial orientation is considered instrumental for motivating individuals to engage in entrepreneurial activities. Previous research has also identified a correlation between entrepreneurial orientation and the performance of a firm. Many studies on the subject of entrepreneurial orientation have revealed that entrepreneurial orientation is multi-dimensional, for example, previous studies have identified autonomy, innovation, risk taking, competitive aggressiveness and pro-activeness as some of the factors that may influence entrepreneurial orientation. Given the importance of entrepreneurship with regard to job creation, the study attempted to identify the entrepreneurial orientation of Generation Y students. South Africa is experiencing high unemployment levels among the youth and the need to identify the entrepreneurial perceptions of the youth is significant as future entrepreneurs will come from this cohort. The findings of this research study may assist different stakeholders such as government, businesses and higher education institutions among others to take appropriate actions to address the problem of unemployment and create a favourable environment where persons may engage in entrepreneurial activities. The purpose of this research study was to determine the entrepreneurial orientation of Generation Y students in the Vaal Triangle area. Autonomy, innovation and risk taking were identified as factors that may possibly influence the entrepreneurial orientation of Generation Y students in this area. The findings in this research study indicate that students regard themselves as being autonomous, innovative and risk takers. No significant differences were found with regard to the entrepreneurial orientation of males and females. In comparing different designated groups in terms of the three constructs, significant differences were noted among certain items, for example, Coloureds and Indians tend to perceive themselves as more innovative compared to other groups. However, further research is needed because there is no sufficient evidence to suggest that one group is more entrepreneurial than the other. The findings in this research study revealed that Generation Y students perceive themselves as being autonomous, innovative and risk takers. This is encouraging because entrepreneurial activities, to a large extent, are known to be influenced by entrepreneurial orientation. It is evident that the youth can be encouraged to be job creators instead of job seekers. / Thesis (MCom (Entrepreneurship))--North-West University, Vaal Triangle Campus, 2012.

There is consensus among entrepreneurship scholars regarding the importance of entrepreneurship toward the economies of countries. There is sufficient evidence to support the view that entrepreneurs are characterised by unique characteristics. Entrepreneurship and entrepreneurial orientation have been widely studied and entrepreneurial orientation is considered instrumental for motivating individuals to engage in entrepreneurial activities. Previous research has also identified a correlation between entrepreneurial orientation and the performance of a firm. Many studies on the subject of entrepreneurial orientation have revealed that entrepreneurial orientation is multi-dimensional, for example, previous studies have identified autonomy, innovation, risk taking, competitive aggressiveness and pro-activeness as some of the factors that may influence entrepreneurial orientation. Given the importance of entrepreneurship with regard to job creation, the study attempted to identify the entrepreneurial orientation of Generation Y students. South Africa is experiencing high unemployment levels among the youth and the need to identify the entrepreneurial perceptions of the youth is significant as future entrepreneurs will come from this cohort. The findings of this research study may assist different stakeholders such as government, businesses and higher education institutions among others to take appropriate actions to address the problem of unemployment and create a favourable environment where persons may engage in entrepreneurial activities. The purpose of this research study was to determine the entrepreneurial orientation of Generation Y students in the Vaal Triangle area. Autonomy, innovation and risk taking were identified as factors that may possibly influence the entrepreneurial orientation of Generation Y students in this area. The findings in this research study indicate that students regard themselves as being autonomous, innovative and risk takers. No significant differences were found with regard to the entrepreneurial orientation of males and females. In comparing different designated groups in terms of the three constructs, significant differences were noted among certain items, for example, Coloureds and Indians tend to perceive themselves as more innovative compared to other groups. However, further research is needed because there is no sufficient evidence to suggest that one group is more entrepreneurial than the other. The findings in this research study revealed that Generation Y students perceive themselves as being autonomous, innovative and risk takers. This is encouraging because entrepreneurial activities, to a large extent, are known to be influenced by entrepreneurial orientation. It is evident that the youth can be encouraged to be job creators instead of job seekers. / Thesis (MCom (Entrepreneurship))--North-West University, Vaal Triangle Campus, 2012.

The aim of this exploratory study was to determine whether there was any significance to the proposition that the ability of individuals to assess entrepreneurial risks differed between entrepreneurs and non-entrepreneurs, with a particular focus on the risk identification and risk prioritisation abilities.A survey strategy was followed which made use of a case study exercise to ascertain what risks the sample groups of entrepreneurs and non-entrepreneurs identified. Demographics and other risk variables, such as risk propensity and risk perception, were also excluded to provide context and eliminate certain alternative explanations.No significant differences were found between entrepreneurs and non-entrepreneurs with respect the risks that they identified in the case study exercise. Entrepreneurs perceived the case study as more favourable and had a higher risk propensity. Entrepreneurs also found the case study exercise more difficult than non-entrepreneurs. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

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This research explores whether differences in ethical reasoning levels exist between senior hospital managers and top level general industry executives. Similar comparisons are made between not-for-profit hospital managers and their peers in for-profit hospitals. Also examined are the ethical reasoning levels used most often by practicing executives, regardless of industry affiliation.

The purpose of this study was to gain understanding about the influence of technology, specifically cellular phones, on decision making during potentially risky situations in the backcountry. Previous research in this area is contradictory and some studies indicate technology is influencing people to take more risks while others suggest it is not. Further confounding the relationship is the fact that previous studies have found people may be taking more risk in the presence of technology were based largely on respondent perceptions, not observation data. The current study used a scenario-based decision model to examine the difference in decision making between those who carried a cell phone on a hike and those who did not. A one-way ANCOVA revealed there was no statistical difference (F=2.18, p=.0898) between the two groups. This indicated people did not take more risks because they carried a cell phone into the backcountry. Risk tolerance and experience hiking long mountain hikes similar to the mountain used in the scenario were the only two variables that influenced decision making in this model. Because cell phones do not adversely influence decision making, it is proposed cell phones and other wireless communication devices be added as a recommended piece of gear to the 10 essentials to help reduce the time it takes for search and rescue to arrive on scene when help is needed.

Personlighetsfaktorerna har betydelse för hur mycket risker individer tar. Syftet med denna studie är att undersöka om det finns ett samband mellan personlighetsfaktorerna enligt femfaktormodellen och graden av generell riskbenägenhet. Mycket av tidigare forskning har kopplat personlighet till domänspecifikt risktagande som hälsa, ekonomi och arbete, medan denna studie undersöker kopplingen till generell riskbenägenhet i vardagen vilket kan vara att välja ett okänt resmål eller att söka till en ny universitetsutbildning. 189 undersökningsdeltagare i olika åldrar och från olika yrkesgrupper besvarade en enkät bestående av två olika tester, den svenska versionen av the Big Five Inventory (BFI) och en svensk översättning av the Risk Propensity Scale (RPS). Resultatet visar på ett signifikant samband mellan fyra av de fem personlighetsfaktorerna enligt femfaktormodellen och en ökad riskbenägenhet, nämligen Öppenhet, Samvetsgrannhet, Utåtriktning och Vänlighet. Däremot fanns ingen signifikant korrelation mellan personlighetsfaktorn Neuroticism och riskbenägenhet.