Towards a Humanistic Model of Decision-Making in an Organizational Context

38 Pages Posted: 5 Nov 2008 Last revised: 1 Dec 2008

See all articles by Josep M. Rosanas

Josep M. Rosanas

University of Navarra - IESE Business School

Abstract

This paper attempts to take steps towards the formulation of a more human approach to the theory of the firm from the starting point of the conventional economics-based models. Bounded rationality and self-interest are shown to be crucial assumptions of conventional economic theory, together with competitive markets and X-efficiency. Then, I put forward the essential assumptions of such an approach. Finally, I will show the implications for management decision-making of such assumptions, emphasizing that at least three criteria have to be considered in any non-trivial decision in an organizational context.

Keywords: Theory of the firm, bounded rationality, self-interest, distinctive competence, mission, identification

Suggested Citation

Rosanas, Josep M., Towards a Humanistic Model of Decision-Making in an Organizational Context. 1st IESE Conference, "Humanizing the Firm & Management Profession", Barcelona, IESE Business School, June 30-July 2, 2008, Available at SSRN: https://ssrn.com/abstract=1295321 or http://dx.doi.org/10.2139/ssrn.1295321

Josep M. Rosanas (Contact Author)

University of Navarra - IESE Business School ( email )

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