hypothesis

A hypothesis is a proposed explanation made on the basis of evidence from a phenomenon examined. It provides the starting point for further investigation. Decisions are made and actions taken to test the hypothesis. These tests will either reinforce the hypothesis, help to refine it, or call for it to be discarded altogether.

Management can take a lesson from the world of science regarding hypotheses. Science does not actually prove anything once and for all. Scientific knowledge is built upon a series of constantly updated working hypotheses. In the ever evolving world of business, the knowledge and hypotheses must evolve as well.