Abstract:

The inquiry into whether all strategic managers engage in calculated risks reveals a complex interaction of elements affecting decision-making processes within businesses. Moreover, risk-benefit perception of top managers emphasizes the importance of informed decision-making during strategy implementation. So, this paper aims to research the mediating effect of risk-benefit perceptions between risk-taking and strategy implementation among top managers. To analyze the relationship between variables, 341 online surveys of top managers from high-risk sectors with more than 250 employees were collected. We analyzed the data using structural equation modeling. The results show that, interestingly, risk-benefit perception is not a significant factor in strategy implementation even if risk-taking behavior is an important factor (β=.118) in Turkish high-risk sectors. Businesses organizations should use these findings to strengthen their strategic frameworks by encouraging risk-taking, supportive decision-making, and innovative leadership development to increase operational effectiveness in high risk settings.