Older Restaurant Managers 'More Risk Averse', Study Finds
UFSC study shows prolonged tenure leads managers to favour conservative actions.
Tempo previsto
16/4/2025
Deep team insight fosters effective talks, boosting tangible business outcomes.
Presenters Kael Moro, attorney-partner at Vanzin & Penteado, and Bruno Nassar, CEO of Lexnautas, interviewed analyst and researcher Vinícius Sgarbe for the videocast Conexão Empreendedorismo (Entrepreneurship Connection). Below are excerpts from the conversation, converted into an article.
Communication is a relatively new science (in terms of establishing a field of academic research), but it is present in all areas of life. We believe that its definition can vary, depending on the role of the definer. For medicine, there will be one bias, for law, another, and so on.
However, we agree that communication occurs in the present moment, between human beings. This happens through words, gestures, and elements of a vast set of expressions. In our view, communication is not the property of communication scholars, but of all of us.
Furthermore, we emphasize that communication, although a recently established science (we write about journalism in the 17th century, and public opinion in the 20th century), is the product of other fields refined over centuries, such as philosophy and political science. In any case, we consider that listening to the experiences of communication users is more important than an epistemology of communication. From books, cinema, television, and radio, all conceived for mass distribution, to the interlocutor of artificial intelligence, users are the "owners" of communication.
We believe that it is a fundamental science for understanding social interactions, which includes the limitations of these interactions. Knowledge and refinement of this science are essential to improve the results of human relationships that translate into a "good life".
We understand that a significant part of business activity is susceptible to automated behaviors. In other words, what is communicated in this condition escapes the rational and emotional intelligence of the individual.
As much as we insist—and sometimes with convincing arguments, brilliant in rhetoric—that we are acting freely, very often it is nothing more than a loop of unassimilated experiences. This is the case of the entrepreneur who, at the end of the day, concludes: "exactly what I didn't want to happen happened again".
It is in this context that self-knowledge comes into play: by knowing ourselves, we shed light on the dark areas of our lives. This invariably means breaking free from automatic behavior and, with a little more work, taking the reins of the business and of success.
Autonomous entrepreneurs (from the perspective of freedom of life) are recognized by their peers and are capable of managing teams. When we worry about things that cannot be solved (because they are fanciful or irrelevant problems, for example), we diminish the happiness and performance of teams. When we have an analytical perspective, instead of an embellished leadership performance, we become capable of saying: "all my plans become successes".
Leia insights sobre a interação de humanos com modelos de linguagem de IA, e sobre os ODS no Brasil. Lab Educação 2050 Ltda, que mantém este site, é signatária do Pacto Global das Nações Unidas.
Inner clarity guides relations & drives business results.
Self-knowing drives leadership, cuts waste & unlocks chances.
UFSC study shows prolonged tenure leads managers to favour conservative actions.
A recent study published in the *Revista Turismo, Visão e Ação* (RTVA) reveals that older managers with longer tenures in restaurants tend to be more risk-averse in their corporate decisions. The research, conducted by researchers at the Federal University of Santa Catarina (UFSC), analyzed data from over 2,000 restaurants in Europe between 2014 and 2016.
The study, titled "Influence of Management Team Characteristics on Risk Decision-Making: Evidence from the Restaurant Sector," utilized the Amadeus database and employed the least squares method to analyze the relationship between manager characteristics – age, tenure, gender, and team size – and the companies' level of financial leverage, used as a risk-taking indicator.
The results showed a significant negative correlation between the age and tenure of managers and their propensity for risk. Older managers and those who had held the same position for a longer period demonstrated a preference for more conservative decisions, opting to maintain the status quo rather than adopting innovative or risky strategies.
Contrary to some expectations, the study found no significant relationship between the size of the management team or female participation and risk-taking. Although previous research has suggested a possible influence of these factors, the data analyzed did not confirm this hypothesis in the specific context of the restaurant industry.
The authors suggest that the risk aversion demonstrated by more experienced managers may be related to the prioritization of stability and the reputation built throughout their careers. Familiarity with the sector and a concern to preserve accumulated gains may lead them to avoid decisions that represent potential threats to the business.
The study's findings have significant implications for restaurant management. The research suggests that the composition of the management team can directly influence the strategy and performance of companies. Restaurants with younger managers may be more willing to innovate and take risks, while those led by more experienced managers may prioritize stability and financial security.
The researchers highlight the need for further studies to deepen the understanding of the relationship between manager characteristics and decision-making in restaurants. Investigating psychological factors, such as individual risk tolerance, and analyzing data from a longer period could enrich the discussion and provide more precise insights for the sector.
Lack of updates and context erodes reader trust.
A journalistic suite is the continuation of a news story in new articles that update previous ones. Something like: "Two people were injured in an accident"; then, "Men injured in accident undergo surgery"; further, "Men injured in accident discharged from hospital"; and finally, "Company responsible for accident involving injuries fined." All these sensational headlines relate to the same original event.
Not every type of news warrants a continuation. Some events and accomplishments have the momentum for a single appearance. However, to appear once or several times in the newspaper, the "thing" must truly be news, which basically means it's not advertising or propaganda – but that's a topic for another time.
In terms of format, a suite is no different from a new news story. After all, a continuation only exists when a new fact is revealed. But it's in style, from what I've observed, that the "marmita das suítes azedou" – meaning why they've lost momentum in recent years. ("Marmita das suítes azedou" is an idiom meaning roughly that the suites have gone stale or lost their appeal).
Let's take a police investigation as an example. Journalism of both good and poor quality is interested in criminal stories. However, in both types of quality, a flavor of vice remains, perhaps originating from the pleasure of "scooping" (when a journalist is the first to report something). It's a haste that hinders more than it helps: not infrequently, versions are presented that collaborate with a story one wants to tell, which may have nothing to do with what actually happened.
In the case of Armed man threatens Black youth in São Paulo, and police officer refuses to act because she's 'off-duty'; watch video (sense-based translation), for example. This is a story that quickly captured the attention of journalists and the public because a video proves not only the omission of a police officer but also her aggression against a young man. Here, whether the police officer was right or wrong is not under discussion. At the same time, due to the lack of suites, the broader context of the three-minute video was missing.
A story told because of its intriguing nature can yield minutes of viewership and an increase in website visitors. However, without continuity, it's shooting oneself in the foot. In 2023, the Reuters Institute's Digital News Report identified that Brazilians' trust in journalism is 43%, a decrease of 19 percentage points since 2015. Statistically, the downward trend may reach 41% in 2024. In this scenario, all resources of intelligence and integrity are welcome to improve these numbers.
Suites are an opportunity to assure the public that editorial choices represent, even if against the majority view, the vehicle's commitment to a story told from beginning to end, with all its nuances. For this, the editorial line as a whole, and even more so the reporters and editors, must approach investigative activity with the detachment of recounting things as they are, and not as they should be.
