Managing Financial Uncertainty: Swedish Grocers : A qualitative study of the impact of uncertainty on manager's financial decision-making process within Swedish grocery stores. 

Abstract: Background: Grocery stores in the retail industry, which are forms of Small and medium-sized enterprises, are particularly vulnerable to changes in the economic environment. This thesis examines how grocery store managers handle their financial management decision-making process in response to uncertainty. 2022 has been a year of unprecedented uncertainty with unforeseen events that affected the Swedish economy. Therefore, these uncertain events in 2022 present an exceptional opportunity to delve into this subject of study.  Purpose: The purpose of this thesis is to analyze how managers of grocery stores handle the financial management decision-making process regarding financing, investing, and profit distribution when faced with uncertainty.  Method: This thesis builds upon qualitative data and aims to formulate a theory concerning the decision-making process under uncertainty within grocery stores by employing an inductive reasoning approach. The study utilizes primary descriptive data gathered from interviews and information from academic articles, books, and authorized websites. To ensure objectivity in the analysis, the role of the researchers was carefully considered. Semi-structured interviews served as the primary method for data collection, and a theoretical framework was established at the outset of the research to guide the analysis and structural organization of the data. During the data analysis phase, a theory-driven thematic analysis methodology was employed.  Conclusion: This thesis concludes that managers of grocery stores handled their financial management decision-making process regarding financing, investing, and profit distribution when faced with uncertainty in different ways. The thesis demonstrated caution in financing by cutting costs and amortizing loans. Additionally, managers employed strategies of reprioritizing and choosing long-term investments to ensure financial stability. At the same time, profit distribution was limited due to increased expenses, leading managers to redirect profits for the survival of the grocery store. Overall, this research highlights the dynamic nature of financial management’s decision-making process and the need for adaptive strategies in the face of uncertainty.