A model of management goal setting and its dissipative structure
This study applies a far from equilibrium approach to the behaviour and control of a firm setting its growth objectives. The function of the firm is expressed through nonlinear differential equations including a sinusoidal interaction term with environment. The firm's own goal setting is shown to be the source of fluctuations. The variety of solutions of the model with a particular set of parameters forms the structure of the system. Bifurcation situations will be studied by simulation and the structure is studied also analytically with the help of the Lyapunov's direct method.
scientific article; zbMATH DE number 3941261
scientific article