Grand theories are conceptual concept which using a more general and macro approach. It is a formal organization and arrangement of concept based on the understanding the social world. It does not narrow down to the concrete concerns of daily life and variety time and space.
Mid-range theories is more specific approach which means it create practice-research into ideas central to the discipline. It is also more predictive of behaviour and behavioural change at different stages. Midrange theories are lower in level of abstraction than grand theories; they offer a more direct application to research and practice.
I do agree that Grand Theories is not so practical manner in terms of being able to use the theory management operations. Grand theory provides a “complete picture reducing uncertainty and is less precise and involves more variables.” (Smith & Hitt, 2005, p.85). On the other hand, Midrange theory sits between the two “at the intersection of research and practice”. (Leihr, 2005) It is practical and applicable to management as it can be used by the manager. It is an “intermediate to general theories of social systems which are too remote ... to account for what is observed.” (Merton, 1949, p.448).
For example, an organization can manage their team and run the operation as what the normal industry practice. However, each organization might adopt different working cultural and employees behavior are different from one country to another. In such case, Midrange theories might be more effective as compare to Grand Theories.