 Risk Reduction in Purchasing Organisational Professional ServicesV.W. Mitchell, L. Moutinho and B.R. Lewis The Service Industries Journal, 2003, vol. 23, issue 5, 1-19 Abstract: Organisational professional services are often costly, time consuming, high-profile and of undeterminable and variable quality; all of which increase the risk associated with their purchase. Yet understanding of what risks are perceived and how they are reduced is limited. The results of a Lisrel analysis of organisational purchasers’ risk perceptions in a high risk scenario confirmed the positive relationship between risk perception and reduction and that overall risk is derived mainly from the financial risk involved. The article also presents a new framework for understanding organisational purchasers’ risk-reduction behaviour in the context of purchasing professional services by a not-for-profit organisation which involves latent risk-reducing concepts such as clarifying, simplifying and risk sharing. Implications for risk measurement are discussed, together with more managerial recommendations for understanding purchasers’ behaviour and changing marketing practice in this sector. Date: 2003 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:servic:v:23:y:2003:i:5:p:1-19 Ordering information: This journal article can be ordered from DOI: 10.1080/02642060308565621 Access Statistics for this article The Service Industries Journal is currently edited by Eileen Bridges, Professor Domingo Ribeiro, Ronald Goldsmith, Barry Howcroft and Youjae Yi More articles in The Service Industries Journal from Taylor & Francis Journals |
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