In the practical world of business, a theory is useful to explain and to codify what is already happening; business theory rarely predicts anything.
Worse is a business theory that has not kept pace with reality, with what has changed.
What business theories (assumptions) do you hold dear, and what has changed in the business world that necessitates modifying, replacing, or abandoning your (pet) business theories?
Adapted from Peter Drucker, The New Realities.
