What is a theory what are its goals and why is it useful to

What is a theory, what are its goals, and why is it useful to business researchers?

Solution

A theory can be defined as a logical explanation of any specific event or events which includes predications of the correlation of one thing to another. There are two goals of a theory, which are understanding and prediction. And both the goals are quite useful and necessary to business researchers. Through various theories, business researchers gain an understanding about different things happening and do the prediction related to the research they are carrying.