Theory Building

Theory: Theory Building

There is nothing so practical as a good theory.
~ Kurt Lewin

Theories are nets cast to catch what we call "the world": to explain, and to master it. We endeavor to make the mesh ever finer and finer. - Karl R. Popper, The Logic of Scientific Discovery

Read: The Role of Business Research

A set of assumptions, propositions, or accepted facts that attempts to provide a plausible or rational explanation of cause-and-effect (causal) relationships among a group of observed phenomenon. The word's origin (from the Greek thorós, a spectator), stresses the fact that all theories are mental models of the perceived reality. - Business Dictionary

Reality:

Reality is merely an illusion, albeit a very persistent one. - Albert Einstein

N.B: If facts conflict with a theory, either the theory must be changed or the facts. - Benedict Spinoza

Every genuine test of a theory is an attempt to falsify it, or to refute it.
~ Karl Popper