The nature of business and management research - Theory
3 important questions on The nature of business and management research - Theory
What is the difference between a theory and a hypothesis?
Theories tend to be complex, abstract and involve multiple varialbes. Hypotheses tend to be simple, limited-variable propositions involving concrete instances.
What is the difference between a model and theory?
Model is representation, theory is explanation.
What type of models exist?
Descriptive models: describe behavior or elements in a system where theory is inadequate or non-existent
explicative models: extend application of well-developed theories or imporve our understanding of their key concepts
simulation models: clarify structural relationships of concepts and attemt to reveail process relationship amongst them.
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