�An idea or set of ideas that is intended to explain facts or events
An idea that is suggested or presented as possibly true but that is not known or proven to be true
The general principles or ideas that relate to a particular subject�
As an engineer, I use theories every day. For example, when fault finding on a piece of equipment or
system that does not operate as it should, I theorise what is causing the fault. The theories that I
exercise are based on knowledge and experience. In theorising, I am actively narrowing the field of
research. For example, if the �power on� indicator lamp is not on, then my knowledge and
experience tells me that:
Reply to student post
In this post, the student has correctly provided a definition of theory using the
definition of the term theory as given by Merriam Webster and citing appropriately. As per
REPLY TO STUDENT POST 2
the definition, a theory refers to an idea which is presented or proposed as potentially factual
that is not known or is not confirmed as factual. To add on this, a theory is typically
developed for the purpose of explaining, predicting, and/or understanding a given phenomena
(Lynham 2013). Additionally, theories are also developed with the goal of challenging or
extending existing knowledge within the limits of bounding suppositions (Weick 2014).
With regard to the theoretical framework, the student proposes to use the Stakeholder
Theory which, as the student pointed out, fosters an ethical, effective, and efficient way of
managing businesses in a very turbulent and complex environment. To add on this point
made by the student, the Stakeholder Theory is essentially a theory of business ethics and
organizational management which addresses values as well as morals in managing an
organization (Donaldson & Preston 2014). This theory holds that in the view of a company,
shareholders, owners, and other parties such as trade unions, political groups, clients, staffs,
governmental bodies, communities, financiers, suppliers and trade associations are all
important stakeholders to the organization (Freeman 1984).
The student intends to employ the Stakeholder Theory to investigate the research
problem. The student has clearly articulated in the post the way in which this theory is
applicable to his project as a theoretical framework. This is great and laudable. However, the
student has described only a single framework and how it applies to the project. Describing at
least two theoretical frameworks rather than just one would have been certainly better.
References
REPLY TO STUDENT POST 3
Donaldson, T., & Preston, LE 2014, The Stakeholder Theory of the Corporation: Concepts,
Evidence, and Implications. Academy of Management
Freeman, RE 1984, Strategic Management: A stakeholder approach. Boston: Pitman. ISBN 0-
273-01913-9 .
Lynham, SA 2013, The General Method of Theory-Building Research in Applied
Disciplines. Advances in Developing Human Resources, 4(87): 221-241
Weick, KE 2014, The Work of Theorizing. In Theorizing in Social Science: The Context of
Discovery. Richard Swedberg, editor. Stanford, CA: Stanford University Press.
