This study examines the circulation processes of management knowledge in the globalizing management field within the framework of new institutional theory. In this study, where new institutional theory is examined, early theoretical contributions regarding the diffusion of institutionalized or rationalized management ideas are criticized for ignoring elements such as context and agency, although they provide an important basis for explaining the global circulation of management knowledge. In this context, alternative explanations encompassing the context and agency dimensions of the diffusion of management knowledge are evaluated by examining newer approaches such as the institutional logics approach and the institutional work perspective. In the study, it is argued that the institutionalization of management knowledge is a dynamic process that is shaped by how actors interpret local and global contexts. As a result, it is suggested that understanding the diffusion of global management knowledge requires analyzing the social construction and institutionalization of this knowledge.