Sensemaking and Financial Management in the Decision-making Process of Farmers

Wednesday, September 22, 2021 - 09:45

Dr Michael Hayden, has recently published an article titled Sensemaking and Financial Management in the Decision-making Process of Farmers in the Journal of Accounting & Organizational Change with co-authors Dr Ruth Mattimoe (Dublin City University) and Professor Lisa Jack (University of Portsmouth). This paper highlights the potential role that improved farm financial management (FFM) could play in developing sustainable farm enterprises. While prior literature suggests that many farmers spend little time on financial management, this paper provides evidence of farmers having quite a high level of engagement in FFM activities, when undertaking strategic farm expansion decisions. Those FFM activities help them to navigate through operational decision-making and to make sense of their strategic decision-making. The paper also highlights that the role of FFM in farmer decision-making is strongly influenced by the decision type (strategic or operational) being undertaken and the farm type (dairy, tillage or beef) in operation.