Sensemaking and financial management in the decision-making process of farmers
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Design/methodology/approach - This paper adopts a qualitative approach with 27 semi-structured interviews exploring farmers’ financial decision-making processes. Subsequently, the interview findings were presented to a focus group. Sensemaking theory is adopted as a theoretical lens to develop the empirical findings.
Findings - The evidence highlights that FFM has a dual role to play in farmer decision-making. Some FFM activities may act as a cue which trigger a sensebreaking activity, causing the farmer to enter a process of sensemaking while some/other FFM activities are drawn upon to provide a sensegiving role in the sensemaking process. The role of FFM in farmer decision-making is strongly influenced by the decision type (strategic or operational) being undertaken and the farm type (dairy, tillage or beef) in operation.
Originality - The literature suggests that the majority of farmers spend little time on financial management. However, there are farmers who have quite a high level of engagement in FFM activities, when undertaking strategic farm expansion decisions. Those FFM activities help them to navigate through operational decision-making and to make sense of their strategic decision-making.
|Journal||Journal of Accounting & Organizational Change|
|Publication status||Accepted for publication - 20 Jun 2021|
- Sensemaking and Financial Management Revised Paper May 2021 Last version submtted and accepted
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Accepted author manuscript (Post-print), 464 KB, PDF document
Due to publisher’s copyright restrictions, this document is not freely available to download from this website until: 1/01/50
Licence: CC BY-NC