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Practical Wisdom: Management’s No Longer Forgotten Virtue

Author

Listed:
  • Claudius Bachmann

    (Catholic University of Eichstätt-Ingolstadt)

  • André Habisch

    (Catholic University of Eichstätt-Ingolstadt)

  • Claus Dierksmeier

    (University of Tübingen)

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.

Suggested Citation

  • Claudius Bachmann & André Habisch & Claus Dierksmeier, 2018. "Practical Wisdom: Management’s No Longer Forgotten Virtue," Journal of Business Ethics, Springer, vol. 153(1), pages 147-165, November.
  • Handle: RePEc:kap:jbuset:v:153:y:2018:i:1:d:10.1007_s10551-016-3417-y
    DOI: 10.1007/s10551-016-3417-y
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    References listed on IDEAS

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    Cited by:

    1. Laura Sasse-Werhahn, 2019. "The Practical Wisdom behind the GRI," Humanistic Management Journal, Springer, vol. 4(1), pages 71-84, July.
    2. Natàlia Cugueró-Escofet & Josep M. Rosanas, 2020. "The Relative Role of the Intellectual and Moral Virtues in Sustainable Management Decisions: The Case of Practical Wisdom and Justice," Sustainability, MDPI, vol. 12(3), pages 1-21, February.
    3. Mahdavi Akramsadat & Ardabili Farzad Sattari & Kheirandish Mohammad & Ebrahimpour Habib & Daryani Shahram Mirzaei, 2020. "Presenting a Model of Managerial practical wisdom in Hospitals," Management, Sciendo, vol. 24(2), pages 20-48, December.
    4. Sylvia D’souza & Lucas D. Introna, 2024. "Recovering Aristotle’s Practice-Based Ontology: Practical Wisdom as Embodied Ethical Intuition," Journal of Business Ethics, Springer, vol. 189(2), pages 287-300, January.
    5. Sandrine Frémeaux & Thibaut Bardon & Clara Letierce, 2020. "How To Be a ‘Wise’ Researcher: Learning from the Aristotelian Approach to Practical Wisdom," Post-Print hal-03232780, HAL.
    6. Sandrine Frémeaux & Thibaut Bardon & Clara Letierce, 2021. "How To Be a ‘Wise’ Researcher: Learning from the Aristotelian Approach to Practical Wisdom," Journal of Business Ethics, Springer, vol. 171(4), pages 667-681, July.
    7. Lu Bostanli & Andre Habisch, 2023. "Narratives as a Tool for Practically Wise Leadership," Humanistic Management Journal, Springer, vol. 8(1), pages 113-142, April.
    8. Ricardo Zózimo & Miguel Pina e Cunha & Arménio Rego, 2023. "Becoming a Fraternal Organization: Insights from the Encyclical Fratelli Tutti," Journal of Business Ethics, Springer, vol. 183(2), pages 383-399, March.
    9. Natàlia Cugueró-Escofet & Josep M. Rosanas, 2020. "Practical Wisdom for Sustainable Management and Knowledge Sharing," Sustainability, MDPI, vol. 12(10), pages 1-17, May.
    10. Mark R. Ryan, 2021. "Business Ethics as a Form of Practical Reasoning: What Philosophers Can Learn from Patagonia," Humanistic Management Journal, Springer, vol. 6(1), pages 103-116, April.
    11. Markus F. Peschl & Alexander Kaiser & Birgit Fordinal, 2023. "Enabling the Phronetically Enacted Self: A Path toward Spiritual Knowledge Management," Sustainability, MDPI, vol. 15(18), pages 1-19, September.

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