Abstract Good management is a vital and dynamic member of the organization that causes the participation of employees in organizational policy-making and defines the goal of the company's activity to provide services to the community and prioritize the company's profits. The purpose of this research is to design a conceptual model of good management in manufacturing-commercial companies with a qualitative approach using grounded theory. The statistical population of the study includes 21 members including scientific experts and executives who were selected for the interview purposefully through the snowball method. By analyzing the data during three stages of open, axial, and selective coding, 527 initial codes were classified into 95 concepts, 26 subcategories, and 6 factors, and the final conceptual model was developed. The interview process was performed to collect data in a semi-structured manner until theoretical saturation was achieved. Findings showed that the process of achieving a good management model is a multifaceted issue that requires simultaneous attention to the categories of causal conditions (university-in-service training, leadership-management behavioral balance, governance regulations, developed structure, and environmental demand), contextual conditions (industry-university relationship, strategic human resource management, organizational flexibility), interventionist conditions (public-private sector laws, unplanned evaluation and implementation of successful models) and finally strategies (organizational change management, corporate responsibility, and development of ethical charter of managers). Achieving sustainable growth, increasing the company's social acceptance, humanizing the work environment, corporate accountability, and developing the ethical habits of managers were also identified as the consequences of implementing a good management model