This paper addresses the question, how does wisdom contribute to management in circumstances of extreme unpredictability? We first discuss three key factors that fundamentally affect the conduct of business—human, knowledge, and the environment—as well as their characteristics and interactions. We then argue that managing the interaction between these factors to effectively deal with the complexity and unpredictability of a rapidly changing business world requires the appropriate application of wisdom, in particular ethics in the form of practical, moral, and epistemic virtues. (...) We propose that these three virtues are the link between the three factors and more effective decision-making and action taking in an unpredictable business world. A model is developed that conceptualizes the interconnection among the three factors and three virtues. This model has important academic and practical implications. For practice, the model points the way for both individuals and organizations to improve decision-making skills through the systematic expansion of perspectives gained through consideration of the three virtues. For academics, the model is an incremental, but important step in understanding the role of wisdom in management. (shrink)

With the excessive emphasis that modern PhD training places on the epistemological contribution of the thesis, a question that arises is: do PhD programmes help PhD students achieve philosophia – “love of wisdom”, or do the programmes just facilitate deepening and developing students’ knowledge? This paper challenges the modern approach to PhD training and by extension all academic research, and considers phronesiology, a wisdom-based approach to research design, to add value to traditional epistemic methodologies. In illustration, we use phronesiology and (...) social practice wisdom principles to reflect on the merits of a recently completed empirical study of wise managerial decision-making. Through a reflective analysis, this paper demonstrates that phronesiology not only allows for contributions to knowledge, but can, as a matter of principle and choice, also increase research practitioner wisdom. In doing so, this may enable researchers to implement better and more comprehensive intellectual and practical outcomes that deal effectively with the economic, social, political, and environmental complexities of the contemporary world. Further, we argue that such a wisdom approach is more “practical” than further instrumentalizing PhD training. The paper offers a series of phronetic reflective questions for PhD researchers in social sciences, especially in organizational and management fields, to consider when designing and carrying out research. (shrink)

The dramatic recent advances and emergent trends in technologies have brought to the fore many vital and challenging questions and dilemmas for leaders and organizations. These are issues that call for a critical, insightful examination of key questions such as: are modern technologies beneficial or problematic for the well-being of individuals, organizations, and societies at large; why do we seem to feel more disconnected in an age of technological connectivity; can organizations reduce technology-induced stresses and find ways to enable the (...) mindful use of technologies and how can organizations, governments and societies manage the use of technologies wisely? Such questions, when explored from various perspectives of wisdom, can yield significant insights, increase awareness of the issues, deepen the dialogue and help redesign an increasingly technology-driven future. However, there is little researched published material available on such questions and issues. Practical Wisdom in the Age of Technology: Insights, Issues and Questions for a New Millennium will provide a space to engage in thought-provoking dialogue and critical reflection on a variety of themes linking technology and practical wisdom. It will offer a foundation for exploration, inquiry, engagement, and discussion among organizational, political and social leaders, technology professionals, information systems academicians, wisdom researchers, managers, philosophers of technology, and other practitioners. (shrink)

This paper considers how a Shi’a Islamic perspective of wisdom can inform contemporary business ethics theory. Given the growing business ethics literature that adopts an Islamic orientation, it is vital that Islamic tenets in a business context are established. Thus, this paper thoroughly researches the tenets of Shi’a wisdom theory using a hermeneutic analysis, guided also by Iranian theological scholars of ancient Persian and Arabic foundational texts, to provide a comprehensive explanation of the foundations of Shi’a faith relevant to business (...) ethics. Having established the principles of Shi’a wisdom, we outline points of consonance and dissonance in comparison to the Western humanist, primarily Aristotelian, orientations to wisdom. Although identifying apparently irreconcilable differences, this analysis reveals important elements of Shi’a wisdom theory that can significantly invigorate and influence business ethics theory. (shrink)

The question we pose in this paper is: How can wisdom and its inherent drive for integration help information systems in the development of practices for responsibly and ethically managing and using big data, ubiquitous information and algorithmic knowledge and so make the world a better place? We use the recent financial crises to illustrate the perils of an overreliance on and misuse of data, information and predictive knowledge when global Information Systems are not wisely integrated. Our analysis shows that (...) the global financial crisis was in part caused by a serious lack of integration of information with the larger context of social, cultural, economic and political dynamics. Integration of all the variables in a global and information hungry industry is exceptionally difficult, and so “exceptionality” of some kind is needed to make sufficient integration happen. Wisdom, we suggest, is the exceptionality needed to lead successful integration. We expect that a wisdom-based shift can lead to more organizationally effective and socially responsible Information Systems. (shrink)

The question we pose in this paper is: How can wisdom and its inherent drive for integration help information systems in the development of practices for responsibly and ethically managing and using big data, ubiquitous information and algorithmic knowledge and so make the world a better place? We use the recent financial crises to illustrate the perils of an overreliance on and misuse of data, information and predictive knowledge when global Information Systems are not wisely integrated. Our analysis shows that (...) the global financial crisis was in part caused by a serious lack of integration of information with the larger context of social, cultural, economic and political dynamics. Integration of all the variables in a global and information hungry industry is exceptionally difficult, and so “exceptionality” of some kind is needed to make sufficient integration happen. Wisdom, we suggest, is the exceptionality needed to lead successful integration. We expect that a wisdom-based shift can lead to more organizationally effective and socially responsible Information Systems. (shrink)