In this article, we respond to recent critiques about the state of organization theory that have characterized it as being anachronistic, overly theoretical, or lacking the right kind of theory. We argue that organization theory is extremely vibrant and highlight several areas where there are flourishing and generative developments—institutional logics, categorization, networks, performance feedback, and strategy‐as‐practice. We also note the growing internationalization of organization theory as exemplified in the shifting demography of the OMT division at the Academy of Management as well as at EGOS. As engaged organization theory supporters and scholars, we additionally argue for a more balanced appreciation of not only the weaknesses in the field, but also its strengths, and urge a re‐engagement in more productive conversations about the important role of theory and theorizing.