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Market Entry Strategies, 2nd Edition by Mario Glowik

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1How to Combine Theory and Business Practice?

1.1About Theory

‘There is nothing more practical than a good theory,’ wrote Lewin (1952: 169). In other words, theorists should develop new ideas for understanding and conceptualizing a challenging research issue, ideas that may suggest potentially fruitful and practical avenues for dealing with the issue in the real world (Vansteenkiste & Sheldon, 2006: 63).

Wacker (2008: 7) describes a theory as a set of conceptual relationships that mainly comprises four properties: definitions, domain, relationships, and predictions. The first property, ‘definitions’, refers to a clear terminology and description of the target subject. ‘Domain’ means that a good theory provides generalizations and abstractions ...

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