In an effort to meet growing stakeholder demands for transparency, accountability, and responsibility, many large organizations globally have voluntarily adopted the Global Reporting Initiative guidelines. Moreover, triggered by recent management transgressions, the ancient virtue of practical wisdom has gained increased attention from management scholars, who argue that the Aristotelian concept, with its interdisciplinary nature, has the capacity of turning management back into a holistic, contextual, and virtue-orientated practice. Especially the fact that practical wisdom is firmly based on normative values, coupled (...) with the emphasis on experience and practice, makes it well suited as a leitmotif for sustainable and responsible management. This conceptual paper builds on the link between practical wisdom and sustainability. I argue that the GRI may be regarded as an example of procedural practical wisdom in the context of sustainability reporting, specifically in terms of its emphasis on the holistic and situational dimensions, articulated through the concepts of materiality analysis and stakeholder dialogue. Practical implications, limitations, and avenues for further research are discussed. (shrink)

As with other fields of applied ethics, philosophers engaged in business ethics struggle to carry out substantive philosophical reflection in a way that mirrors the practical reasoning that goes on within business management itself. One manifestation of the philosopher’s struggle is the field’s division into approaches that emphasize moral philosophy and those grounded in the methods of social science. I claim here that the task for those who come to business ethics with philosophical training is to avoid unintentionally widening the (...) gap between philosophical theory and business management by emphasizing the centrality of practical wisdom to both good managment and to the moral life. Distinguishing my own approach from recent emphases on phronesis in management literature, I draw on the concepts of social practice and of narrative to tie practical reasoning to a company’s unique story. Practical reason, social practices and narrative are employed together to give an account of the art of management at Patagonia. The essay hopes to both provide a way for philosophers engaged with business ethics to see family resemblances between their practices and those of business management and to offer a pedagogical example useful for those in any discipline interested in viewing businesses ethically. (shrink)