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Ontology and epistemology are two different ways of viewing a research philosophy. Ontology in business research can be defined as “the science or study of being” and it deals with the nature of reality. Ontology is a system of belief that reflects an interpretation by an individual about what constitutes a fact.
Both logic and ontology are important areas of philosophy covering large, diverse, and active research projects. These two areas overlap from time to time and problems or questions arise that concern both. This survey article is intended to discuss some of these areas of overlap.
Research philosophy is an important part of research methodology. Research philosophy is classified as ontology, epistemology and axiology. These philosophical approaches enable to decide which approach should be adopted by the researcher and why, which is derived from research questions (Saunders, Lewis, & Thornhill, ). Ontology is a part of metaphysics, a branch of philosophy that looks at the very nature of things, their being, cause, or identity. Metaphysics dates all the way back to the time of the Ancient Greek philosopher Aristotle, who lived from B.C.E.
Epistemology in a business research as a branch of philosophy deals with the sources of knowledge. Specifically, epistemology is concerned with possibilities, nature, sources and limitations of knowledge in . Research philosophy, refers to the development of knowledge adopted by the researchers in their research (Saunders, Lewis and Thornhill, ). In other words, it is the theory that used to direct the researcher for conducting the procedure of research design, research strategy, questionnaire design and sampling (Malhotra, ).