Management theory is a diverse field where multiple theoretical perspectives coexist and coevolve, leading to conceptual pluralism. While conceptual pluralism is useful for grasping different aspects of the complex reality we live in, it may limit the further development of knowledge on elemental concepts. In this article, we focus on knowledge on the natural environment (NE) in management theory. We argue that management scholars and practitioners often rely on theoretical lenses that tend to reify the NE, thereby limiting the conceptualization of some of the essential properties of the NE. Drawing on the example of the conceptual development of the ecosystem services (ES) at the intersection of economics and biology, we identify the advantages and the limits of interdisciplinary theory-building and testing. Finally, we discuss how tools from the philosophy of science can be useful for proposing a way forward for integrating reliable knowledge on the natural environment in management theory.