Behavioural approach to defining corporate objectives

Joanna Błach (1), Maria Gorczyńska (2)
(1) University of Economics in Katowice, Poland,
(2) University of Economics in Katowice, Poland

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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Authors

Joanna Błach
Maria Gorczyńska
Błach, J., & Gorczyńska, M. (2017). Behavioural approach to defining corporate objectives. Kwartalnik Nauk O Przedsiębiorstwie, 45(4), 55–67. https://doi.org/10.5604/01.3001.0010.7449