Behavioral Management under Different Business Environment Conditions

Abstract

Article aims to test how context of the business environment affects manager´s actions and counteractions. Study on the behavioral management conceptually reconciles the reality by looking at the original management theories while, at the same time, focusing on existing managerial specificities and practices. Research is based on in-depth empirical qualitative analysis, results offered an interpretation of managerial decision-making as a product of personal preferences and characteristics, limited rationality, risk perception, lack of information, mental shortcut, heuristics, satisfactory level, and imitation. The re-orientation towards recognition of managerial behavior is developed and illustrated. Regression analysis outcomes have proved managers´ exceptional flexibility in counteracting the shortcomings of environmental growth or decline context.