This paper proposes a systemic narrative that contributes to understanding the current state of management studies. It argues that a lock-in situation is occurring due to the convergent impact of cognitive, functional, and political constraints. Cognitive lock-ins originate from a dominant epistemology. Functional lock-ins relate to the oligopolistic structure of the industry. Political lock-ins derive from the cooperative behavior of power structures. The paper suggests that a lock-in situation is inherently resilient, but signs of a possible change are increasingly visible.