A Behavioral Theory of the Firm: a critical analysis

Abstract

The book A Behavioral Theory of the Firm is one of the most influential management tools of all times, first published in 1963 and written by Richard M. Cyert and James G. March (1992), who developed theoretical constructs that became a base of studies for organizational research in management, economics, political science and sociology. In this current study, we approach the theoretical constructions of the book, through a critical review that sought to review the nine chapters that compose the production, discussing implications of this theory on organizational studies. This work provides theoretical concepts and perspectives in organizational studies, highlighting advances in theories such as: institutional theory, population ecology and organizational economics. We also point out possible studies that can contribute to enrich the discussion about the new perspectives on decision making.