(European Journal of Business and Management, 2018) Omoyele, Samuel Olufemi
The Paper is essentially a discourse on Management Theory and Management Practice, and the interconnection
between them. The paper argues that management practice is the continuous process of taking actions that enable
organizations to achieve its set goals. It views management practice as the practical application of management
theory and therefore the effectiveness of management practice largely depends on the validity of the theory
applied. The paper presents three models to illustrate the process of the development of a valid theory; the
tripartite interactive relationship between management theory, management practice and the managerial
environment; and the interactive relationship between management theory, management practice, management model and the managerial environment