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. (shrink)

The premise of this paper is that the fear of foolishness is essential to wisdom. Unfortunately, leaders are often conditioned to suppress fear in favor of confidence. However, wise leaders fear foolishness while foolish leaders are fearless. Leaders fall into traps and hit walls that result in fallacies. It is the recognition of these fallacies and the fear of their consequences that compel leaders to seek wisdom. This paper relies on protection motivation theory, the balance theory of wisdom, the imbalance (...) theory of foolishness, and the WICS model of leadership to caution leaders of foolishness so that wisdom can be developed. Specifically, the fear of foolishness is proposed as the motivating factor for the pursuit of wisdom. In doing so, the literatures of wisdom and fear are reviewed and the appraisal process of the fear of foolishness and the coping mechanisms to address foolishness are elaborated on. The protection motivation of the fear of foolishness can fundamentally change leader behaviors and attitudes for the sake of wisdom and individual, organizational, and societal well-being. (shrink)

Previous research has underlined the significance of practical wisdom pertaining to corporate sustainability. Recent studies, however, have identified managing opposing but interlocked tensions related to environmental, social, and economic aspects as one of the most crucial future challenges in CS. Therefore, we apply the established link between wisdom and sustainability to the pressing topic of managing tensions in CS. We commence with a literature overview of tensions in sustainability management, which manifests our basic work assumption concerning the need for practical (...) wisdom in CS. We then discuss the threefold, mutual interconnectedness between practical wisdom and tension management in CS, which we illustrate in a conceptual model. Thereafter, we develop a set of propositions on how a practical wisdom approach influences CS in practice and how it differs from a business-case approach. In recognition of the conceptual character of our paper, we conclude by outlining potential practical applications and theoretical implications of the model and of the propositions. Limitations and avenues for further research are discussed. (shrink)