A behavioral theory of the firm: specifics of Czech entrepreneurial behavior

Simple item page
dc.contributor.authorMandysová, Ivana
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2018-03-29
dc.date.available2018-03-29
dc.date.issued2018-03-29
dc.description.abstractThe article attempts to present empirically relevant, process-oriented behavioral theory of the firm incorporating Czech specific characteristics of entrepreneurial behavior. It conceptually reconciles the reality by looking at the original ideas of ‘A Behavioral Theory of the Firm’ by Cyert and March. Study critically examines available theoretical models of firm’s rational behavior investigated in heuristic theories. These models offer an interpretation of entrepreneurial behavior as a product of personal preferences and characteristics. A theoretical re-orientation towards recognition of entrepreneurial behavior is developed and illustrated. Contemporary research outcomes coincide that the emerging, probably eclectic, paradigm strongly emphasizes the role and quality of human capital including the entrepreneur´s skills. Study is based on in-depth qualitative empirical research and subsequently it derives from statistically established theoretical patterns. It explores and explains the way entrepreneurs make economic decisions, their actions and counteractions with business environment, while, at the same time, focusing on Czech specifics. Firms have proved exceptional flexibility and have succeeded in counteracting and even manipulating the shortcomings and disadvantages of business environment. They have exploited chances and grasp opportunities in spite of additional expenditures that increased their costs. It has been proved that decisions are not made according to designed strategic plans aimed at the achievement of goals and permanent profit increase. Research has discovered that behavioral patterns further offer an access to specialized inputs, discovered relations proved to provide the entrepreneur with access to knowledge and information, even though bounded rationality and imperfect knowledge often lead to satisfactory solution and are typical for Czech firms. To create a dynamic economy, which ensures that entrepreneurs can start and develop their businesses, public policy should understand entrepreneurship, support it, provide relevant public goods and motivate it properly.en
dc.formattext
dc.format.extent16 strancs
dc.identifier.doi10.15240/tul/001/2018-1-006
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/22788
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
dc.relation.isbasedonBelás, J., Demjan, V., Habánik, J., Hudáková, M., & Sipko, J. (2015). The business environment of small and medium-sized enterprises in selected regions of the Czech Republic and Slovakia. E&M Ekonomie a Management, 18(1), 95-110. https://dx.doi.org/10.15240/tul/001/2015-1-008.
dc.relation.isbasedonBingham, C. B., & Haleblian, J. (2012). How firms learn heuristics: Uncovering missing components of organizational learning. Strategic Entrepreneurship Journal, 6(2), 152-177. https://dx.doi.org/10.1002/sej.1132.
dc.relation.isbasedonBrandes, L., Brechot, M., & Franck, E. (2015). Managers’ external social ties at work: Blessing or curse for the firm? Journal of Economic Behavior & Organization, 109(1), 203-216. doi.org/10.1016/j.jebo.2014.11.013.
dc.relation.isbasedonBrännback, M., & Carsrud, A. L. (Eds.). (2017). Revisiting the Entrepreneurial Mind. International Studies in Entrepreneurship 35. Switzerland: Springer International Publishing. https://dx.doi.org/10.1007/978-3-319-45544-0_23.
dc.relation.isbasedonChakravarthy, B. (1982). Adaptation: a promising metaphor for strategic management. Academy of Management Review, 7(1), 35-44. https://dx.doi.org/10.5465/AMR.1982.4285438.
dc.relation.isbasedonChandler, G. N., McKelvie, A., & Davidsson, P. (2009). Asset specificity and behavioral uncertainty as moderators of the sales growth - Employment growth relationship in emerging ventures. Journal of Business Venturing, 24(4), 373-387. https://dx.doi.org/10.1016/j.jbusvent.2008.04.002.
dc.relation.isbasedonChild, J. (1972). Organizational structure, environment and performance: the role of strategic choice. Sociology, 6(1), 2-22. https://dx.doi.org/10.1177/003803857200600101.
dc.relation.isbasedonCyert, M. R., & March, J. G. (1972). A behavioral theory of the firm. Malden, MA: Blackwell Publishing. https://dx.doi.org/10.2307/1884852.
dc.relation.isbasedonDobbs, M., & Hamilton, R. T. (2007). Small business growth: recent evidence and new directions. International Journal of Entrepreneurial Behavior & Research, 13(5), 296-322. https://doi.org/10.1108/13552550710780885.
dc.relation.isbasedonDosi, G., & Marengo, L. (2007). On the Evolutionary and Behavioral Theories of Organizations: A Tentative Roadmap. Organization Science, 18(3), 491-502. https://doi.org/10.1287/orsc.1070.0279.
dc.relation.isbasedonField, A. J. (2007). Beyond Foraging: Behavioral Science and the Future of Institutional Economics. Journal of Institutional Economics, 3(3), 265-291. https://doi.org/10.1017/S1744137407000720.
dc.relation.isbasedonGindis, D. (2009). From Fictions and Aggregates to Real Entities in the Theory of the Firm. Journal of Institutional Economics, 5(1), 25-46. https://doi.org/1010.1017/S1744137408001203.
dc.relation.isbasedonHendl, J. (2005). Kvalitativní výzkum. Praha: Portál.
dc.relation.isbasedonKahneman, D. (2003). Maps of Bounded Rationality: Psychology for Behavioral Economics. American Economic Review, 93(5), 1449-1475. https://dx.doi.org/10.1257/000282803322655392.
dc.relation.isbasedonKameda, T., & Diasuke, N. (2002). Cost–benefit Analysis of Social/Cultural Learning in a Nonstationary Uncertain Environment: An Evolutionary Simulation and an Experiment with Human Subjects. Evolution and Human Behavior, 23(5), 373-393. https://dx.doi.org/10.1016/S1090-5138(02)00101-0.
dc.relation.isbasedonKao, R. W. Y. (2013). Entrepreneurial Decision making Behaviour Compared with Corporate Managers in Business Management. Journal of Small Business & Entrepreneurship, 4(3), 12-21. doi.org/10.1080/08276331.1987.10600266.
dc.relation.isbasedonKeynes, J. M. (1936). The General Theory of Employment, Interest and Money. London: Palgrave Macmillan.
dc.relation.isbasedonKirkley, W. W. (2016). Entrepreneurial behaviour: the role of values. International Journal of Entrepreneurial Behavior & Research, 22(3), 290-328. https://dx.doi.org/10.1108/IJEBR-02-2015-0042.
dc.relation.isbasedonKirzner, I. M. (1997). Entrepreneurial Discovery and the Competitive Market Process: an Austrian Approach. Journal of Economic Literature, 35(1), 60-85.
dc.relation.isbasedonKoráb, V., & Bumberová, V. (2013). Empirical development taxanomy of micro, small and medium-sized enterprises in South Moravian Region. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 61(7), 2021-2031. https://dx.doi.org/10.11118/actaun201361072021.
dc.relation.isbasedonKrueger, N. F. (2007). What lies beneath? The experimental essence of entrepreneurial thinking. Entrepreneurship Theory and Practice, 31(2), 123-139. https://dx.doi.org/10.1111/j.1540-6520.2007.00166.x.
dc.relation.isbasedonKutner, M. H., Nachtsheim, C., Neter, J., & Li, W. (2005). Applied Linear Statistical Models. Boston: McGraw-Hill Irwin.
dc.relation.isbasedonLawrence, P. R., & Lorsch, J. W. (1967). Organization and environment. Boston: Graduate School of Busines Administration, Harvard University.
dc.relation.isbasedonLucas, R. E. (1987). Models of Business cycles. Oxford: Blackwell.
dc.relation.isbasedonMarch, J. G., & Simon, H. A. (1958). Organizations. New York: Wiley.
dc.relation.isbasedonMcDermott, P., & Taylor, M. (1982). Industrial Organisation and Location. Cambridge: Cambridge University Press.
dc.relation.isbasedonMorgan, G. (1988). Riding the waves of change: developing managerial competence for a turbulent world. San Francisco: Jossey-Bass Publishers.
dc.relation.isbasedonMorgan, G. (1992). Proactive management. In D. Mercerer (Ed.), Managing the external environment: a strategic perspective. London: Sage.
dc.relation.isbasedonNeter, J., Wasserman, W., & Kutner, M. H. (1985). Applied linear statistical models: regression, analysis of variance, and experimental designs. Illinois: Homewood Press.
dc.relation.isbasedonPred, A. R. (1967). Behavior and location: foundations for a geographic and dynamic location theory. Lund: The Royal University of Lund.
dc.relation.isbasedonRao, C. R. (1973). Criteria and Methods of Estimation. In Linear Statistical Inference and its Applications: Second Edition. Hoboken, NJ: John Wiley & Sons. https://dx.doi.org/10.1002/9780470316436.ch5.
dc.relation.isbasedonSantoro, M. D., Bierly, P. E., Daly, P. S., & Gopalakrishnan, S. (2007). Sources of external organisational learning in small manufacturing firms. International Journal of Technology Management, 38(1-2), 45-68. https://dx.doi.org/10.1504/IJTM.2007.012429.
dc.relation.isbasedonSchimmer, M., & Brauer, M. (2012). Firm performance and aspiration levels as determinants of a firm’s strategic repositioning within strategic group structures. Strategic organization, 10(4), 406-435. https://dx.doi.org/10.1177/1476127012457983.
dc.relation.isbasedonSchminke, M., Cropanzano, R., & Rupp, D. E. (2002). Organization structure and fairness perceptions: The moderating effects of organizational level. Organizational Behavior and Human Decision Processes, 89(1), 881-905. https://dx.doi.org/10.1016/S0749-5978(02)00034-1.
dc.relation.isbasedonSchumpeter, J. (1934). The Theory of Economic Development. Cambridge: Harvard University Press.
dc.relation.isbasedonŠebestová, J. (2015). Regional Business Environment and Business Behaviour of SME's in Moravian-Silesian Region. In A. Kocourek (Ed.), Proceedings of the 12th International Conference Liberec Economic Forum (pp. 182-191). Liberec: Technical University of Liberec.
dc.relation.isbasedonSener, I. (2012). Strategic Responses of Top Managers to Environmental Uncertainty. Procedia Social and Behavioral Sciences, 58, 169-177. https://dx.doi.org/10.1016/j.sbspro.2012.09.990.
dc.relation.isbasedonSimon, H. A. (1947). Administrative behavior. New York: Theatre Press. https://dx.doi.org/10.1111/j.1467-6486.1967.tb00569.x.
dc.relation.isbasedonSimon, H. A. (1957). A Behavioral Model of Rational Choice. Quarterly Journal of Economics, 69(1), 99-118. https://dx.doi.org/10.2307/1884852.
dc.relation.isbasedonSoofi, E. S., Retzer, J. J., & Yasai-Ardekani, M. A. (2000). Framework for measuring the importance of variables with applications to management research and decision models. Decision Sciences, 31(3), 595-625. https://dx.doi.org/10.1111/j.1540-5915.2000.tb00936.
dc.relation.isbasedonStam, E. (2007). Why Butterflies Don't Leave: Locational Behavior of Entrepreneurial Firms. Economic Geography, 83(1), 27-50. https://dx.doi.org/10.1111/j.1944-8287.2007.tb00332.x.
dc.relation.isbasedonThaler, R. H. (2017). Misbehaving: The Making of Behavioral Economics. New York: W. W. Norton & Company.
dc.relation.isbasedonVaessen, P., & Wever, E. (1993). Spatial responsiveness of small firms. Journal of Economic and Social Geography, 84(2), 119-131. https://dx.doi.org/10.1111/j.1467-9663.1993.tb00640.x.
dc.relation.isbasedonWilliamson, O. E. (1963). Managerial Discretion and Business Behavior. American Economic Review, 53(5), 1032-1057.
dc.relation.isbasedonWitt, U. (2007). Firms as Realizations of Entrepreneurial Visions. Journal of Management Studies, 44(7), 1125-1140. https://dx.doi.org/10.1111/j.1467-6486.2007.00731.x.
dc.relation.isbasedonYasai-Ardekani, M. A. (1989). Effects of Environmental Scarcity and Munificence on the Relationship of Context to Organizational Structure. The Academy of Management Journal, 32(1), 131-156. https://dx.doi.org/10.2307/256423.
dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectbehavioral theory of the firmen
dc.subjectentrepreneur; decision makingen
dc.subjectCzech business environment specificsen
dc.subject.classificationD21
dc.subject.classificationD22
dc.titleA behavioral theory of the firm: specifics of Czech entrepreneurial behavioren
dc.typeArticleen
local.accessopen
local.citation.epage100
local.citation.spage85
local.facultyFaculty of Economics
local.filenameEM_1_2018_06
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue1
local.relation.volume21
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
EM_1_2018_06.pdf
Size:
1012.8 KB
Format:
Adobe Portable Document Format
Description:
Článek
Download
Collections
Číslo 1