Ontology is concerned with nature of reality. This raises questions of the assumptions researchers have about the way the world operates and the commitment held to particular views. The two aspects of ontology we describe here will both have their devotees among business and management researchers. In addition, both are likely to be accepted as producing valid knowledge by many researchers. The first aspect of ontology we discuss is objectivism . This portrays the position that social entities exist in reality external to social actors concerned with their existence. The second aspect, subjectivism , holds that social phenomena are created from the perceptions and consequent actions of those social actors concerned with their existence.