Measuring the Enablers of Corporate Managers’ Decisions to Contribute to Non-State Social Protection

Richmond Baah (), Tatjana Volkova () and Iveta Ludviga ()
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Richmond Baah: RISEBA University of Applied Sciences
Tatjana Volkova: BA School of Business and Finance
Iveta Ludviga: RISEBA University of Applied Sciences

A chapter in Eurasian Business and Economics Perspectives, 2024, pp 3-31 from Springer

Abstract: Abstract The world is fraught with multiple crises but efforts to elicit private sector contributions to society continue to be less fruitful mainly because of two reasons. Firstly, there is limited understanding of what informs corporate managers’ decision to contribute to society in crises periods. Secondly, the concepts of ‘responsibility’ and ‘business case’ which have framed appeals for business contribution to society have been ineffective. Even though wisdom is especially required for corporate decision-making in crisis periods, there is a scant literature on wisdom in corporate decision-making towards society. This research aims to assess the effects of wisdom on corporate managers’ decisions towards non-state social protection in a crisis period. A survey was conducted with 1230 valid responses. Andrew Hayes’s PROCESS Macro was used to conduct a mediation analysis of a serial multiple mediation model. The research finds that wisdom enables corporate managers to take decisions to contribute to non-state social protection in a crisis period. The study identifies wisdom three pathways which integrate to enable corporate managers’ decisions towards societal good. The study contributes to the Social Practice Wisdom (SPW) theory and empirically validates the wise management decision-making model.

Keywords: Decision-making; Non-state social protection; COVID-19 pandemic; Social responsibility; Wisdom; Crisis period (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:eurchp:978-3-031-55813-9_1

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DOI: 10.1007/978-3-031-55813-9_1

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