Conceptual Model : A Framework for Institutionalizing the Vigor in Business Research

A conceptual model is a framework that is initially used in research to outline the possible courses of action or to present an idea or thought. When a conceptual model is developed in a logical manner, it will provide a rigor to the research process. This paper examines the process of building a conceptual model for business research. Conceptual models, being an intermediate theory, a suitable theory building process can be adopted for its development. The basic definitions of a theory, its elements and characteristics of a good theory are first understood and the different theory-building processes are evaluated. The various concepts are then synthesized and the process of conceptual model development is explained systematically with an illustration. This paper guides the researchers to develop a conceptual model with a good level of abstraction that establishes vigor in business research process