The term theory is used with surprising frequency in everyday language. It is often used in everyday language to mean a guess, hunch, supposition or speculation.
A theory is referred to as a set of statements or principles devised to explain a group of facts or phenomena, especially one that has been repeatedly tested or is widely accepted and can be used to make predictions about natural phenomena. Theories are used for answering certain questions in our lives.
A theory is built upon one or more hypotheses, and backed up by evidence. A theory presents a concept or idea that is testable and has passed more than one test. In science, a theory is a fact based framework for describing phenomena. In psychology, theories are used to provide a model for understanding of human thoughts, emotions and behaviors.
In theory there is no difference between theory and practice; in practice there is. In theory the difference between practice and theory is due to practical considerations that theorists find it impractical to fit into their theories.
In practice, theory uses the practice of theorizing about practical matters, while not noticing that the theoretical method practically distorts the theory beyond application to practice.
Levels of Generality
Grand theories are universal or widely accepted. They integrate all communication knowledge into one framework. E.g. The theorem of Pythagoras.
Middle range theory was developed by Robert K. Merton, is an approach to sociological theorizing aimed at integrating theory and empirical research. It is currently the de-facto dominant approach to sociological theory construction, especially in the United States
Narrow theory explains very little and limited aspect of phenomena. E.g. An intrapersonal theory about life.
Source: www.answers.com/topic/theory &
www.psychology.about.com/index/f/theory.html
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