The Role of Realism in Establishing Truth in Business Research

This essay examines the concept of 'truth' in business and management research, focusing on how it is established through the theory of realism. It delves into the ontological, epistemological, and axiological dimensions of realism, highlighting their importance in ensuring trust and transparency within business activities. The essay argues that a commitment to truth, grounded in ethical considerations and validated information, is crucial for fostering confidence among stakeholders and achieving reliable, applicable research outcomes in the business world. The paper concludes that truth serves as the backbone for conducting any business and management research.

Running head: TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
Truth in business and management research
Name of the Student
Name of the University
Author Note

1TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
Table of Contents
Introduction......................................................................................................................................2
Theory of realism and its relationship with establishing ‘truth’ in business and management
research............................................................................................................................................2
Ontology of realism and ‘truth’ in business and management research......................................3
Epistemology of realism and ‘truth’ in business and management research...............................4
Axiology of realism and ‘truth’ in business and management research......................................5
Importance of ‘truth’ within business research...........................................................................5
Conclusion.......................................................................................................................................6
References:......................................................................................................................................7

2TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
Introduction
The field of business and management research is often considered to be practical field
where all the logical and rational decisions are needed to be taken (Morales, Amir & Lee, 2017).
There is the assumption that during the conduction of any business activity, there is a slight
overlook of the various philosophies which guide the other forms of human interaction in the
society (Armstrong, 2019). In this context, there is a necessity to understand that the aspect of
ethics is very much present within the field of business and management research. The primary
objective of all business individual is to establish a transparent form of communication with its
employees and customer partners so as to ensure that they are able to form a trust within the
concerned business (McGhee & Grant, 2017). The purpose of this paper is to examine the issue
of ‘truth’ and understand how it is established within the business and management research. In
this context, the theory of realism has been taken in to consideration.
Theory of realism and its relationship with establishing ‘truth’ in business and
management research
The aspect of truth is considered to have a robust constructive perspective attached to it
whereas the field of business and management research is considered to be a sphere of strong
positivism (McAvoy & Butler, 2018). There is a need to establish a middle ground. Many
scholars are of the opinion that the knowledge and information base in the social sciences are
concerned with entities which are ontologically subjective (Hu, 2018). For instance, this includes
certain business activities in the form of profits which are earned through monetary resources
(Morales, Amir & Lee, 2017). However, the social science field maintains that such subjectivity
of ontology does not imply that it is abandoning the aspect of truth and neither that it has adopted

3TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
the epistemic subjectivity of the issue of postmodernism and that of relativism (Morales, Amir &
Lee, 2017). Thus, the field of business and management research makes the claim that the
expression of epistemic objectivity in the form of facts is correct while making the
acknowledgement that the realm of ontological subjectivity in organizational science is also true
(Wang, 2019).
Ontology of realism and ‘truth’ in business and management research
In order to understand the aspect of Ontology of realism and how it helps in establishing
‘truth’ in business and management research, there is first the need to examine the meaning of
ontology itself. Ontology is a social science concept which basically means ‘the study of the
being’ (Ryan, G2017). Thus, it is primarily concerned with the kind of world which is
surrounding us, its nature and the nature of human beings and the structure of reality itself
(Morales, Amir & Lee, 2017).
The issue of realistic ontology can be applied in the case of Ontology of realism and
‘truth’ in business and management research. It is based on the physical world and the
researchers are of the opinion that the entire world is restructured on the framework of cause and
effect (Teehankee, 2018). In the world of business, for instance, when a businessman undertakes
the decision to go along with a particular course of action, then it invariable has a particular
effect on the manner that the business is performing. Thus, it can be observed that the ontological
reality also acts as an opportunity cost within the realm of business and management research
(Morales, Amir & Lee, 2017). The businessman has decided to go along with a particular plan,
ensuring that a specific effect takes place (Ramoglou & Tsang, 2016). This means that he or she
is forgoing all the other effects which would have taken place in the event that some other plan
was in place.

4TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
In the field of business and management research, the ontology is required for the
establishment of truth since it would lead to understanding of the main purpose of the business
activity (Morales, Amir & Lee, 2017). In order to develop trust with regards to a business
activity, there is first the need to have faith in the vision of the firm and the person who is
responsible for furthering such long term objective (Rees & Smith, 2017).
Epistemology of realism and ‘truth’ in business and management research
The aspect of epistemology refers to the way of understanding a particular event or
explains the process of acquiring of information that is imbibed within the human society
(Morales, Amir & Lee, 2017). Thus, the factor of epistemology ensures that it provides a
philosophical ground for examining the relevance of knowledge and their reliability and validity
(Sharpe, 2018). Within the field of business and management research, such validation of
information is required since business activities are based on practical work experience. In the
event that the businessman is given the wrong information which is neither validated nor
reliable, then there is a likelihood that the business decisions would not be favorable for the
primary objective of the firm (Rouse & Kitching, 2017). Thus, the epistemic angle is essential in
the field of business and management research.
Looking at the importance of the establishment of truth within the business and
management research, it can be observed that truth can be formulated when the information
provided is genuine in nature (Tsang, 2016). All the stakeholders to a particular business activity
needs to be kept updated at all points of time about the manner in which the business is being
conducted. Such information needs to be true in nature and also reliable. This, in turn, would
help to generate the aspect of transparency within the functioning of the business. Furthermore,
the customers and the concerned employees would be able to trust the activities of the business if

5TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
they see that the knowledge which is passed on to them is reliable in nature and also validated
(Morales, Amir & Lee, 2017).
Axiology of realism and ‘truth’ in business and management research
The aspect of axiology refers to the important role of the ethics and values which is
required in the process of research (Morales, Amir & Lee, 2017). This question revolves around
the issue of how the researchers are able to harmonize their own values with the values and
ethical standards of the research participants. In the field of business and management research,
it can be seen that most of the researchers are practical in nature. They necessarily include the
participants who need to be observed and their responses need to be incorporated within the
entire research process (Morales, Amir & Lee, 2017). Thus, there is a significant need to
establish the importance of the values and the ethical standards of the participants. The
researcher is required to assume a neutral stand in this context and not let their values challenge
the main purpose of the research.
In the field business and management research, it can be seen that axiology acquires a
significant place in the process of research (Morales, Amir & Lee, 2017). All researches include
a spirit of ethical standard which needs to be maintained so as to impart a sense of validity to the
research study under investigation. The businessman reading the research needs to be assured
that no value of the participant has been compromised in the course of the work.
Importance of ‘truth’ within business research
The analysis of the issues of ontology, epistemology and axiology within the field of
business and management research shows that the research works follow the philosophy of
reality while being executed. The main purpose of the business and management research is to

6TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
provide a reliable and validated research work which can be utilized by the individuals involved
in the business world so as to further their own aims and objectives. In the event that they come
across a research work which adheres to all the standards set out by the field of scientific
research, then they would be assured that the findings of this research can be properly
implemented within their own business course (Morales, Amir & Lee, 2017). Thus, the end
result of every business and management research is to ensure that the work undertaken is
reliable and validated in nature and can be applied to the real world so that it can prove to be
advantageous for the businesses operating in the society.
Conclusion
In conclusion, it can be observed that the issue of ‘truth’ forms the back bone of the
conduction of any business and management research. The business owners try to ensure that
they are able to generate trust and confidence among its customers and employees so that they
make significant contributions to the continuance of the business. In this context, the paper has
looked in to the theory of truth and how it is established within such business and management
research. The ontological, epistemological and axiological dimensions of the philosophy of
realism with regards to the paradigm of truth has been examined in the course of this paper. It
has been established that truth, as a form of business ethics and paradigm, is important for the
conduction of any business activities.

7TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
References:
Armstrong, R. (2019). Critical realism and performance measurement and
management. Management Research Review.
Hu, X. (2018). Methodological implications of critical realism for entrepreneurship
research. Journal of Critical Realism, 17(2), 118-139.
McAvoy, J., & Butler, T. (2018). A critical realist method for applied business research. Journal
of Critical Realism, 17(2), 160-175.
McGhee, P., & Grant, P. (2017). Applying critical realism in spirituality at work
research. Management Research Review.
Morales, A. C., Amir, O., & Lee, L. (2017). Keeping it real in experimental research—
Understanding when, where, and how to enhance realism and measure consumer
behavior. Journal of Consumer Research, 44(2), 465-476.
Ramoglou, S., & Tsang, E. W. (2016). A realist perspective of entrepreneurship: Opportunities
as propensities. Academy of Management Review, 41(3), 410-434.
Rees, C., & Smith, C. (2017). Applying critical realism to the MNC: Exploring new realities in
staffing and expatriation. Multinational corporations and organization theory: Post
millennium perspectives, 49, 265-293.
Rouse, J., & Kitching, J. (2017). Entrepreneurial practice in pregnancy: a framework and
research agenda. In Academy of Management Proceedings (Vol. 2017, No. 1, p. 14021).
Briarcliff Manor, NY 10510: Academy of Management.

8TRUTH IN BUSINESS AND MANAGEMENT RESEARCH
Ryan, G. S. (2017). Critical realist ethnography: from philosophy to the practice of research
analysis.
Sharpe, D. R. (2018). Researching the multinational corporation: contributions of critical realist
ethnography. critical perspectives on international business.
Teehankee, B. (2018). Critical realist action research and humanistic management
education. Humanistic Management Journal, 3(1), 71-90.
Tsang, E. W. (2016). The philosophy of management research. Taylor & Francis.
Wang, Y. Y. (2019, June). The Possibility of the Third Approach to Marketing Research: Critical
Realism. In 18th European Conference on Research Methodology for Business and
Management Studies (p. 349).