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Research Paper (postgraduate) from the year 2014 in the subject Business economics - General, Northcentral University (School of Business and Technology Management), language: English, abstract: Why theory is important for scientific investigators and business professionals? Could theorists generate theory from trial and error approach, or a good theory must follow and go beyond specific virtues? Does theory necessarily require application? Eventually, do business professionals practice real business problems without theory? Theory's precise nature involves a vigorous debate among social...

Essay from the year 2014 in the subject Economics - Finance, language: English, abstract: The subject of the relationship between theory and practice has long been focused by psychologists as to what extent theories can be used as the principles that guide practice. A theory has a fundamental role in providing researchers with frameworks and in guiding practitioners to formulate a problem in actual practice settings. This paper is divided into four sections. The first section explores the literature review of the relationship between theory and practice. The second section illustrates the...