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Adaptive Aspirations: Performance Consequences of Risk Preferences at Extremes and Alternative Reference Groups
Goals or aspirations and their relationships to risk taking and performance are important issues in both psychology and strategic management. The concept of adaptive aspirations, as discussed in Cyert and March's Behavioral Theory of the Firm, has long been a topic of interest in both fields. Moreover, many studies in strategy have focused on risk and/or extreme performance. In the current paper, we build on earlier models of adaptive aspirations. We introduce into the models a new risk preference function that incorporates changes in risk preference at extremes of performance. Based on empirical studies and the managerial literature, we also introduce alternative strategies for setting reference groups. Simulations of the resulting models suggest important differences in outcomes from earlier studies and this invites further empirical investigation. These simulations also have significant implications for managerial goal setting.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| SMJ3213 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | USA: Strategic Management Society 2011 |
|---|---|
| Edisi | Vol. 32 Issue 13, Dec 2011 |
| Subjek | Strategic management Organizational behavior Risk assessment studies Goal setting |
| ISBN/ISSN | 10970266 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 1523 p. |
| Info Detail Spesifik | Strategic Management Journal |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |