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Scholars point out a fundamental difference between research in disciplines of management and natural sciences. Using stakeholder framework, in this paper, the authors first define domain of management research from practitioners' perspective. Then, they highlight contextual nature of management and argue that practitioners and researchers differ in terms of extent of generalisation they are interested in. The authors present a framework which links management research to practice and identify conceptual issue related to reliability and validity. Statistical techniques generally try to decipher a pattern. But innovation by definition amounts to breaking free from the pattern. A formula which led to success of one organisation at one point of time can be intentionally disrupted by managers in competing organisations. This is possible because human beings are endowed with three unique characteristics of cognition, judgment and intention. This explains limitations of management research in predicting future on the basis of valid explanations of today. That is why even if managers try to search for a common reality in a replicable fashion, managerial practice may not necessarily benefit.

Since independence in 1947, India has witnessed several changes in economic policies of governments. Economic reforms were started in India in 1984 and were accelerated later in 1991. It is believed that Bharatiya Janata Party won the 2014 parliamentary elections on the promise of economic development and growth. In this article, an attempt has been made to investigate the link between economic and electoral performances in Indian elections. The data for 1951–2014 period has been analysed by establishing regression equations using vote percentage received by a ruling party as dependent variable and sectoral economic growth during the ruling tenure as independent variables. Comparisons have been made between the pre- and post-1984 eras. An important contribution of this article is that it highlights the fact that electoral performances can be better explained using sectoral growth data as compared to overall GDP growth rates. The article also highlights a significant role played by volatility in growth rates.