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Home⇛LAMDAG⇛vol. 13 no. 1 (2023)

CORRELATION OF SELF-EFFICACY AND RISK MANAGEMENT AMONG RESTAURANT MANAGERS

Trizia Fesuel M Moreno

Discipline: education and teaching

 

Abstract:

This study was conducted to determine the correlation between self-efficacy and risk management among restaurant managers in the Province of Bukidnon, specifically in the key cities of Malaybalay and Valencia, and the municipality of Manolo Fortich. The study used a descriptive-correlational design and utilized a survey questionnaire in gathering the primary data from the 105 restaurant managers. It focused on assessing the extent of the manager’s self-efficacy on the dimensions that include performance outcomes, vicarious experiences, verbal persuasion, and physiological feedback, and the extent of the manager’s risk management on the dimensions that include financial risk, strategic risk, operational risk, and compliance risk. Findings revealed the profile of the respondents was majority are the younger age population, mostly females and at the supervisory level. Further, the respondents had worked in the restaurant for 1-3 years and served an average of 50 guests per day since the study was also conducted at the time when restrictions on dining out were heightened. In terms of the manager’s self-efficacy, it revealed that it is high and with very high-risk management. Furthermore, the study found that there is a positive relationship between the two variables. However, there were dimensions where the extent of the manager’s self-efficacy and risk management was low. Self-efficacy needs significant attention through reinforcement and intervention to achieve optimum risk management and ensure long-term viability of the restaurant business enterprise. The study concludes that a restaurant would be able to remain in a competitive business if its employees, and particularly its management, are aware of the potential risks that the establishment may encounter and are knowledgeable about how to deal with them effectively and efficiently



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