I am in need of some help with this question. I need a detailed overview of a particular theory used by managers to inform practice and review alternatives, or solutions. This is to be a specific theory and not a theory group.

Please include the definition of the theory, the major thought leaders/theorists who have contributed to the development of the theory, and areas of business and management where the theory is often applied.

With this information I will be creating a scenario for my own place of business!

Thanks for your help!