Closing the Theory-Practice Gap: Socio-Economic Approach and Action Research in Management

Abstract

This conceptual paper explores the persistent gap between research, practice, and theory in management, hindering the practical applicability and relevance of academic research. It investigates the Socio-Economic Approach to Management (SEAM) as a participatory and collaborative model aimed at effectively bridging this gap. The paper examines the evolution of management theories and the emergence of SEAM as an innovative solution to align theory and practice, highlighting its potential to integrate theory, research, and practice in organizational management. The paper conducts a comprehensive literature review to demonstrate how action research, as incorporated in SEAM, facilitates transformative organizational development and fosters collaborative problem-solving. SEAM’s methodology offers a win-win collaboration for both managers and scholars, resulting in actionable knowledge with practical applications. Additionally, it includes a case study involving DBA executive education to illustrate SEAM’s practical application. Despite its strengths, SEAM faces criticisms and challenges, including concerns about subjectivity, rigor, contrasting approaches, validity, and generalizability. However, the paper emphasizes SEAM’s contributions to action research, offering a fresh perspective that transcends context-specificity and provides multidimensional modeling of outcomes. It emphasizes measurement and quantitative assessment of qualitative impacts, integrating qualitative, quantitative, and financial data to better understand organizational complexity. In conclusion, the paper underscores SEAM’s significance in promoting research relevance, enhancing management practices, and fostering better understanding between researchers and practitioners, particularly within the realm of DBA executive education. By advocating for SEAM as a bridge between theory and practice, the paper encourages a more collaborative and effective approach to meet the demands of a dynamic management landscape.