Exploring Management Practices and Theories through Grounded Theory: A Review

Abstract

Management is a dynamic field of study that continually evolves in response to changing business environments and organizational needs. Given its inherent complexity, the exploration of management science necessitates a comprehensive understanding of various domains, including organizational behavior, strategic planning, human resources, and financial management. In light of this multifaceted nature, a qualitative research approach is particularly suitable for investigating management practices and theories. Grounded theory is a versatile, systematic, and comprehensive methodology that has found extensive application across various domains within management. Its adaptability allows researchers to explore complex issues in fields such as marketing, finance, human resources, strategic management, operations, and beyond. This methodological flexibility makes grounded theory particularly valuable for understanding the intricacies of management practices and organizational dynamics. In marketing, for example, grounded theory can be used to investigate consumer behavior, brand loyalty, and the effectiveness of marketing strategies, enabling marketers to derive insights that inform campaign development and customer engagement practices. In finance, it can help uncover the underlying factors influencing investment decisions or risk management strategies, contributing to a more nuanced understanding of financial markets. Moreover, in human resources, grounded theory can aid in exploring employee satisfaction, organizational culture, and talent management practices. Overall, grounded theory serves as a significant approach to developing a deeper understanding of management. By leveraging its systematic methodology, researchers can generate theories that are grounded in real-world data, leading to practical implications and informed strategies that enhance organizational effectiveness and performance. Its broad applicability across various fields within management underscores its importance as a valuable research tool.