It totally does. Every approach briefing includes instructions on what they will do in the event of a missed or unstable approach. The procedure is generally full throttle, nose up, gear up, retract flaps, head in the direction briefed, and notify ATC. All automatic from memory.
When either pilot calls for a go-around, both are supposed to drop literally everything else, execute the go-around without delay or hesitation, and then pause to analyze the situation once ATC gives them a heading and altitude or holding pattern to regroup.
The only thing lost in a go-around is fuel and time.
Any sane airline will never punish a call to go-around if done so in good faith.
When either pilot calls for a go-around, both are supposed to drop literally everything else, execute the go-around without delay or hesitation, and then pause to analyze the situation once ATC gives them a heading and altitude or holding pattern to regroup.
The only thing lost in a go-around is fuel and time. Any sane airline will never punish a call to go-around if done so in good faith.