“…Successfully building new theory usually involves introducing new, different assumptions in existing theorizing, typically because adequately addressing a hitherto unexplained phenomenon makes this necessary. Hence, it is not surprising that discussion and controversy in strategic management often concern what are good/bad, useful/less useful, realistic/unrealistic, etc., assumptions (see Bromiley, ; Camerer, ; Lam, ; Poole and van de Ven, ; Shugan, ; Tsang, , ). And yet, there does not seem to be clearly articulated and agreed‐upon principles that can be used to examine the assumptions that strategic management researchers make.…”