Behavioural approach to defining corporate objectives
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Abstract
The main aim of this paper is to present the behavioural decision-making model as an alternative to the neoclassical approach to defining corporate objectives. Elementary stag-es of the behavioural decision-making process are presented with regard to the interests of various stakeholders. The analysis of the practical solutions revealed that the majority of the analysed companies emphasize a behavioural approach to defining objectives, while using a neoclassical approach. In this way the contents of the defined objectives become complementary. It was also found that limited interest in a behavioural model of deci-sion-making may result from the unclear principles regarding the determination of aspira-tion levels and the difficulty in assessing the performance of a company.
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