Three distinct frameworks have been advanced by scholars to analyze organizational aspirations: behavioral theory, Ansoff’s strategic management view, and strategic reference point theory. These frameworks, or views, are grounded in different assumptions and mechanisms. This article reviews and synthesizes the three views, also drawing on literatures in economics, performance measurement, and psychology, to present a comprehensive understanding of organizational aspirations. This review shows the literature consists primarily of studies using behavioral theory explanations, typically provides studies of the consequences of theoretically inferred aspiration levels, is impoverished in terms of field measurement of aspirations, and lacks comparative or integrative studies of the three views. Drawing on this critique, the article identifies theoretical and empirical gaps and provides guidance for future research.
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