Theory Vs. Practical

Now a days ‘theory’ is considered to be synonymous of ‘impractical’, ‘unrealistic’, and even ‘speculation’.Due to which Students take important lessons for granted.They are really unaware of the fact that how much theory is important for an actual practical experience.The other factor is businessmen have an affinity towards advice from well known CEO s and high-ranking individuals because these are based on practical experience and thus are more reliable than textbooks.But it's only one face of a coin.Second face is those CEO s and high-ranking individuals had already go through theory-practical phase.And they have such great practical experience only because of great theory.

Why we need theory?
A theory is an explanation of reality.eg- “If we do A, then B will happen”
Do you know PLC (product life cycle)-There are four phases in PLC-Introduction,Growth,Maturity and Decline
Similarly theory also have a life cycle-
1. Descriptive. This is the stage where a theory describes a certain phenomenon but is not developed enough to identify why it occurs and what circumstances contribute to its occurrence.
2. Categorization. In this stage, the theory may differentiate between “editions” of a certain phenomenon. This stage is critical since these “editions” may have different causes and require different circumstances before it can occur.
3. Predictive. This is the stage when researchers have verified a set of hypotheses that state the causes of a phenomenon and the circumstances that must exist for the phenomenon to occur.

Practical means -involving experience or actual use rather than theory OR
There is statistical significance, an arbitrary limit whereby an observed difference could reasonably be assumed to be due to some factor other than pure chance. Then there is practical significance, an arbitrary limit whereby an observed difference is of some practical use in the real world.
Practical experience is not the opposite of theory. Rather, practical experience leads to the development of theories!

It's not practically possible to compare theory and practical.We can come out with conclusion that
Personal Theory= Formal theory+Practical experience