The article, The Theory of Business, is about how businesses find their own theory of the business. What is theory of business? A theory of business has three parts. The first part of theory of business is the assumptions about the about the environment of the organization which are the society and the structure, the market, the customer and the technology. The second part is the assumptions about the specific mission of the organization. The third part is the assumptions about the core competencies needed to accomplish the organization’s mission. Also there are 4 specifications of valid theories of the business. The first is the assumptions about environment, mission, and core competencies must fit reality. Second the assumption in all there areas have to fit one another. Third the theory of business must be known and understood throughout the organization. Fourth the theory of business has to be tested constantly. Businesses have their own theories and depending on what it is determine if their business is going to last for a long time or not. Their theories depend on their customers. How are the customers going to respond to the business? I feel that customers make 90% of your business because if you don’t have any customers then you don’t have a business. If your theory of business doesn’t seem to work you can always change it for the better. But changing your theory is very hard work. Having a good theory of business is a good idea to try to have a successful business but it has to be good one that customers will relate to. Making things easier for the customers will make the customers happy. In other words, good theory equals a good business and a long lasting one at that. An example of businesses that had good theory and are very successful today is AT&T, General Motors, and IBM. One successful business theory I want to focus on is Windows. Let’s say I was a customer around the year 1994. Whe…
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