ts-ims

behavioral theory of the firm

An organizational theory describing how firms actually make decisions. It posits that a firm is a coalition of stakeholders with conflicting goals, making decisions based on bounded rationality and "satisficing." This informs risk management frameworks like ISO 31000 by explaining the critical role of human and cultural factors.

Curated by Winners Consulting Services Co., Ltd.

Putting this into practice

Winners Consulting helps organizations turn this concept into workable policies, processes and audit readiness.

Need help with compliance implementation?

Request Free Assessment