Practical Wisdom: Management's No Longer Forgotten Virtue

The ancient virtue of practical wisdom has lately been enjoying a remarkable renaissance in management literature. The purpose of this article is to add clarity and bring synergy to the interdisciplinary debate. In a review of the wide-ranging field of the existing literature from a philosophical, t...

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Published in:Journal of business ethics Vol. 153; no. 1; pp. 147 - 165
Main Authors: Bachmann, Claudius, Habisch, André, Dierksmeier, Claus
Format: Journal Article
Language:English
Published: Dordrecht Springer 01.11.2018
Springer Netherlands
Springer Nature B.V
Subjects:
Business and Management
Business Ethics
Education
Ethics
Interdisciplinary aspects
Justification
Literature
Literature reviews
Management
Morality
Original Paper
Philosophy
Quality of Life Research
Traditions
Virtue ethics
Wisdom
Prudence
Practical wisdom
Virtue ethics
Phronesis
Management
Business ethics
ISSN:0167-4544, 1573-0697
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Abstract The ancient virtue of practical wisdom has lately been enjoying a remarkable renaissance in management literature. The purpose of this article is to add clarity and bring synergy to the interdisciplinary debate. In a review of the wide-ranging field of the existing literature from a philosophical, theological, psychological, and managerial perspective, we show that, although different in terms of approach, methodologies, and justification, the distinct traditions of research on practical wisdom can indeed complement one another. We suggest a conciliatory conception of the various features of practical wisdom in management. This we take as a point of departure for a discussion of the significant implications of the subject for the theory and practice of management and for the direction of further research in the field.
AbstractList The ancient virtue of practical wisdom has lately been enjoying a remarkable renaissance in management literature. The purpose of this article is to add clarity and bring synergy to the interdisciplinary debate. In a review of the wide-ranging field of the existing literature from a philosophical, theological, psychological, and managerial perspective, we show that, although different in terms of approach, methodologies, and justification, the distinct traditions of research on practical wisdom can indeed complement one another. We suggest a conciliatory conception of the various features of practical wisdom in management. This we take as a point of departure for a discussion of the significant implications of the subject for the theory and practice of management and for the direction of further research in the field.
Author Bachmann, Claudius
Habisch, André
Dierksmeier, Claus
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  givenname: André
  surname: Habisch
  fullname: Habisch, André
– sequence: 3
  givenname: Claus
  surname: Dierksmeier
  fullname: Dierksmeier, Claus
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ContentType Journal Article
Copyright Springer Nature B.V. 2018
Springer Science+Business Media Dordrecht 2017
Journal of Business Ethics is a copyright of Springer, (2017). All Rights Reserved.
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ISSN 0167-4544
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Sat Nov 29 03:06:01 EST 2025
Tue Nov 18 22:53:27 EST 2025
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Issue 1
Keywords Prudence
Practical wisdom
Virtue ethics
Phronesis
Management
Business ethics
Language English
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  year: 2018
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PublicationPlace Dordrecht
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PublicationSubtitle JBE
PublicationTitle Journal of business ethics
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Springer Netherlands
Springer Nature B.V
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  doi: 10.1023/A:1006339112331
– volume: 55
  start-page: 122
  issue: 1
  year: 2000
  ident: 3417_CR16
  publication-title: American Psychologist
  doi: 10.1037/0003-066X.55.1.122
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  start-page: S67
  issue: S2
  year: 2015
  ident: 3417_CR19
  publication-title: Business Ethics: A European Review
  doi: 10.1111/beer.12098
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Snippet The ancient virtue of practical wisdom has lately been enjoying a remarkable renaissance in management literature. The purpose of this article is to add...
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SubjectTerms Business and Management
Business Ethics
Education
Ethics
Interdisciplinary aspects
Justification
Literature
Literature reviews
Management
Morality
Original Paper
Philosophy
Quality of Life Research
Traditions
Virtue ethics
Wisdom
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Title Practical Wisdom: Management's No Longer Forgotten Virtue
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