The purpose of this paper is to present three classical theories on organizational learning and conduct a comparative analysis that highlights their strengths, similarities, and differences. Two of the theories -- experiential learning theory and adaptive -- generative learning theory -- represent the thinking of the cognitive perspective, while the third theory --assimilation theory -- coincides with the behavioral school of thought on organizational learning. The three criteria to be used in the comparative analysis include: 1) the learning process, or how learning occurs in each theory; 2) the learning target, or who experiences the learning; and 3) the learning context, or the antecedents and conditions that promote a learning organization. Because theory building in this discipline has a history of approaches that fragment rather than assimilate new theory (Lahteenmaki, Toivonen, & Mattila, 2001, p. 113), a new prototype theory will be introduced that effectively integrates the important themes, principles, and practices of organizational learning into a more holistic model.