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Exploring distressed venture decision-making during turnarounds

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  • Maddy Brinkley
  • Marius Pretorius
  • Ingrid le Roux

Abstract

Distressed decision-makers (business rescue practitioners or turnaround professionals) are confronted with multiple challenges to make the appropriate decisions at various stages of a distressed business event. Numerous variables may affect their decisions. Causal mapping was applied within a qualitative research design preceded by in-depth semi-structured interviews to create the priority matrix. Distressed decision makers do not have one specific decision-making process, and decision-making is largely situation dependent. The Companies Act, creditors, stakeholders, time, liability of data integrity, reasonable prospect, reputational risk, and experience were the most influential variables. Reasonable prospect judgement was found to govern the decision-making process. The distressed decision-making framework included awareness, causality, origin, severity, confidence, personal and external variables, and effectuation guiding decisions. Awareness and severity influence confidence to make decisions, as well as the personal and external variables, which are in turn influenced by causality and effectuation.

Suggested Citation

  • Maddy Brinkley & Marius Pretorius & Ingrid le Roux, 2026. "Exploring distressed venture decision-making during turnarounds," International Journal of Business Continuity and Risk Management, Inderscience Enterprises Ltd, vol. 16(1), pages 24-53.
    • Handle: RePEc:ids:ijbcrm:v:16:y:2026:i:1:p:24-53
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