Abstract:
At the present, the business and economy are more complex so that the standalone concept of both business and economy may be not sufficient to understand the behavior or action of various group in the economy. Hence, the knowledges of related fields have important role to explain or understand the factors affecting various economic decisions. One of the outstanding methods that utilized to understand business decision or behavior consists of “the Theory of Planned Behavior and Theory of Reason Action”, which are psychology and behavioral science-based theories proposed by Icek Ajzen and Martin Fishbein. These behavioral theories have been used as a tool for researching business decision-making behavior in three major areas, namely 1) behavior of stakeholders outside the company, such as customer behavior which will be useful for marketing planning or promoting the purchasing of products or services, 2) behavior of personnel within the company such as executives or employees which can be used for planning the company’s human resources development, and 3) the overall behavior of the company or organization which will be beneficial to the public sectors for promoting or encouraging companies to follow their desired behavior. This article aims to introduce the theories and present relevant research examples in each related field, so that interested parties in both the business and public sectors can apply these analytical tools to better understand the business insight.