The relationship between theory and practice has been the subject of extensive discussion in academic literature that encompasses all fields (Gay and Weaver, 2011; Lincoln and Lynham, 2011; Vogel, 2010). According to Henderikus (2010), the nature of a theory is to deliver descriptive and illuminating advantage on a problem, to offer a description of the advanced features of a phenomenon or to provide predictive value. These are similar to the explanation of Stam (2007), which states that there were three significant opinions of theory in the 20th century: reductionism, instrumentalism, and realism. Reductionism being the perspective that the characteristic of a theory is to be reduced to something that can be observed. The instrumentalism perspective was the characteristic of a theory that serves as an instrument to be able to do things. While the realism perspective was the characteristic of a theory that provides statements about a phenomenon that actually existed or still exists in the world (Stam, 2007).
There is no research that can be done without a theory. A majority of scholars would agree that, “theory is the currency of scholarly research” (Corley and Gioia, 2011, p. 12). A theory provides the framework for analysis of the collected data and enhances the knowledge base of any field; it is also needed in order to test the applicability of real world problems. According to Vogel (2010), theory generates ideas that empower research and practice. All theories have a practical capability because it produces ideas and explanations, as well as predictions about the relationships of variables, which can be seen in reality (Vogel, 2010).
According to Gay et al. (2011), the most popular declaration of Kurt Lewin i...
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...eholder theory and discovered notable issues with the characteristics of the stakeholders. The authors found out that there are theoretically problematic issues, mainly about the stakeholder concept itself. Future research is needed on how to identify the stakeholder’s group in practice. Furthermore, there is a need to present a universal criterion for ascribing specific characteristics belonging to one group or another. In practice or in application, it is necessary to address the conflicts of interest among the different stakeholders as well as the management difficulties when dealing with their numerous and various objectives. Mainardes, Alves, and Raposo (2011) also stated that there is a need to systematize the knowledge produced by academics and practitioners in order to achieve the theoretic convergence essential for the growth of stakeholder theory.
Stakeholder is anyone with an interest in a business; stakeholders are individual, groups or businesses. They are affected by the activity of the business. There are two types on stakeholders who are internal and external. Internal stakeholder involves employees, managers/directors and shareholders/owners. External stakeholder involves suppliers, customers, government, trade unions, pressure groups and local and national communities.
Theories are used as explanations of an experiment or study. A theory can be tested and then is used a predictor of something. People in criminal justice use criminological theories to explain why individuals commit crimes and based off of these theories, they can also see try to predict whether people will commit crimes and based off this try to prevent individuals from offending. In the criminal justice work field another set of theories are used called Management Theories. Similar to criminological theories, management theories can also help predict and explain people’s behavior. Management theories help explain behavior in the workplace. They are executed to aid in the expansion of employee output.
Mitchell, M. L. & Jolley, J. M. (2004). Advantages of using theory to generate ideas. Retrieved from http://psy1.clarion.edu/mm/StudyRDE/Web_Appendixes/Theory _Appendix/Using_Theory.htm
There are many definitions to theory. According to Akers (2009) “theories are tentative answers to the commonly asked questions about events and behavior” (Akers, (2009, p. 1). Theory is a set of interconnect statements that explain how two or more things are related in two casual fashions, based upon a confirmed hypotheses and established multiple times by disconnected groups of researchers.
The social world has provided us with multiple perspectives when it comes to various topics. A theory is a system of ideas intended to explain something based on general principles independent of the thing to be explained. All three views of crime were created by theorists as an attempt to explain the causes of human behaviors. Each theory offers a variety of explanations for the multiple perspectives the world has.
”Theories tell how and why things work; how and why one variable is related to another. Research findings that are theory based can be place in a framework that advances science further than findings that are unconnected to formal theory.” (O'Connell, 2009, p. 33).
Hence, the stakeholders which are described as those who are affected by the organisation performance ,actions and duties and those actions includes employees, clients, local community and investors as well. The theory of stakeholders also suggests that it is the responsibility of firm to make sure no rights of stakeholders are dishonoured and make decisions in the interest of stakeholders which is also the purpose of stakeholder theory to make more profit and balancing it while considering its stakeholders (Freeman 2008 pp. 162-165). In the other words organisation must also operates in a more socially accountable approach by carrying out corporate social responsibility as (CSR) activities.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Evan, W. M., & Freeman, R. E. (1988). A stakeholder theory of the modern corporation: Kantian
Stakeholders’ analysis is the analysis which tells that how the company is dealing with the people which are directly or indirectly related with the company’s operations. These are called stakeholder and they include the employee, society, suppliers, buyers, shareholders, got and other tax related companies.
While it is possible to generate formal theory directly from data (Glaser and Strauss 1967; Strauss 1987), it is better to start with a substantive grounded theory of which a formal theory can be developed (Glaser and Strauss 1967). Both the substantive and formal theory can inform each other on the development of a formal theory. On moving substantive grounded theory to formal theory, Glaser and Strauss (1967) suggests using someone else’s formal theory as an important starting strategy. Through discussion of substantive theory with formal theory, findings from other substantive areas are constantly compared in a generation of a grounded formal theory. A substantive grounded theory is a one area theory developed for a substantive/empirical area while a grounded formal theory is a ‘multi-area’ theory developed for a formal/conceptual area (Glaser and Strauss 1967; Strauss 1987). A formal theory cannot fit or work well when written from only one area (Glaser and Strauss 1967). Therefore, a discussion of substantive grounded theory with a formal theory incorporates other substantive areas to make a formal theory adequate. The best building materials for grounded formal theory are the findings of other substantive theories (Glaser and Strauss 1967). Moreover, avoidance of prevalent mode of formal theory will be achieved as Strauss (1987) noted:
Stakeholders are individuals, groups, and organisations with the power to influence the delivery of an organisation’s strategy and thus the organisation’s performance and/or a significant interest in an organisation’s strategy and thus the organisation’s performance (Wisniewski, 2001; Ackermann & Eden, 2011). In the context of the draft BSC to be developed, however, the analysis shall focus on relatively aggregated stakeholder groups. Firstly, the aim of this stakeholder analysis is not to pinpoint individual persons as stakeholders who may then be managed more easily than large organisations, but to identify rather broad stakeholder groups interested in Zara’s performance. Secondly, addressing
We all use theories in our everyday life. We make assumptions about certain things, that in turn allow us to form a kind of theory or thought. We gather these assumptions very early on in life, by what we have been taught or have learned. Exactly what is a theory and how is it different form a hypothesis? A theory is a set of statements or principles that explain how two or more events are related to each other. A hypothesis is an explanation for an observation, or natural phenomenon that can be tested and retested for further investigation. Theories can be concrete or either abstract. Knowing that when you turn the knob on the fault water will come out or knowing that it might rain if you see clouds in the sky. These theories are relatively simple or concrete. Abstract theories are very difficult to apply to our reality. It is very difficult in testing the concept that the faster you travel the slower time gets. Theories on crime rates in a particular community and the different effects that it has on the different social structures are abstract. When you are conducting your research, there are two methods that you can use Quantitative and Qualita...
There are various approaches, which can be valuable for researchers to utilize when deciding an effective research problem. The failure of a researcher to be precise in the description of the problem statement can have damaging outcomes in the understanding of the research. A theoretical framework refers to a set of interrelated ideas or themes, such as a concept, but not fundamentally worked out. Determining on what comprises a theoretical framework of the study begins with recognizing and creating a good researchable problem.
The word theory emanated from the Greek word meaning “contemplate” It has been viewed by scholars in different ways. Theory can be defined literally as an explanation of phenomena and its associations with variables that it is attempting to predict. There are no general agreed definitions of theory because scholar’s views of what constitute theory differ based on the purpose, nature and what make up of a good theory (Gelso, 2006; Harlow, 2009; Stam, 2007, 2010; and Wacker 1998). For instance, Wacker, (1998), pointed out that a theory must have four basic criteria such as conceptual definitions, domain limitations, relationship-building, and predictions. He, also, opined that for any theory to be regarded as a good theory, it must have qualities for `good ' theory, such as “uniqueness, parsimony, conservation, generalizability, fecundity, internal consistency, empirical riskiness, and abstraction, which apply to all research methods” (p.364). Stam (2010) interpreted theory as ...