Study of the Relationship between Risk Culture and Decision Making in the Semi-Governmental Sector in Saudi Arabia: An Application to the General Authority for Awqaf

Abstract

The study aimed to identify the relationship between risk culture with its dimensions (implementation of risk management policies and procedures, level of risk awareness) and decision-making with its dimensions (quality of decisions made, support of top management) by applying it to the General Authority for Awqaf as a semi-government sector. The study also sought to assess the level of employees’ awareness in the Authority of the importance of risk management through examining the study dimensions and the relationship between the two variables (risk culture and decision-making). This research followed the descriptive-analytical approach and utilized a questionnaire as a tool for collecting primary data. The study population consisted of employees at the General Authority for Awqaf, totaling 500 participants. A random sample of 217 individuals was studied, and the data analyzed using SPSS and Excel software, employing various statistical methods to test the research hypotheses. The main findings of the research included the following: In the risk culture dimension, the application of risk management policies and procedures received an overall mean of 4.0285 and a standard deviation of 0.0984, while the level of risk awareness dimension received an overall mean of 4.1522 and a standard deviation of 0.1308. In the decision-making dimension, the quality of decisions made received an overall mean of 4.0285 and a standard deviation of 0.0984, while the support of top management dimension received an overall mean of 4.0199 and a standard deviation of 0.92582. The study also found a statistically significant positive relationship between risk culture and decision-making across their respective dimensions. Among the key recommendations of the study were providing the necessary support for risk management from top management to facilitate the implementation of policies and procedures within the organization, ensuring commitment across all management levels, developing a comprehensive strategy to support risk culture within management strategies, as this approach will help unify the vision and enhance integration among departments, thus achieving organizational goals more effectively, and encouraging the utilization of risks as growth opportunities, which would enhance institutional performance.