Decision- making in the Cluster under conditions of Risk

Abstract

Purpose: three main research questions in the paper are: what is characteristic for risk management in business cluster? What factors influence on the decision-making process in the cluster under conditions of risk and uncertainty? Which mental abilities of cluster managers, highlight their decisiveness, and are conducive in cluster management under conditions of risk and uncertainty?

Methodology: methods of analysis and synthesis have been applied, within theory of management (mainly the theory of decision) and systems theory.

Findings: in the article, the essence of risk and uncertainty was characterized, highlighting that uncertainty, contrary to risk concerns the alternations which are difficult to be assessed, or events whose probability due to the lack of information cannot be entirely estimated. This paper highlights the fact that the risk is present in all areas of the cluster. The need to manage the risk (identify, measure, analyse and control it) is inscribed in the nature of strategic decisions in a cluster. Features like: self-direction, self-discipline, simultaneity, and resistance are conducive to decisiveness of managers. Decisiveness is mental ability to “move” between extremes in the fields of: power, time and cultural diversity – which is especially important under conditions of risk and uncertainty.

Originality: An interdisciplinary approach to the problems constitutes the added value of this article.