David Rooney

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide a balanced and integrated way of knowing, deciding and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business.

This article argues that abstract knowledge in the form of formally developed theory plays an increasingly important role in the economy and in financial innovation in particular.knowledge is easily reified, and this is an aspect of knowledge work that is insufficiently researched. In this article, we problematize reification of abstract knowledge in financial innovation from wisdom, ethics, and social network analysis perspectives. This article, therefore, considers the composition and structures of financial innovation networks that help avoid reification by building ethicality through social practice wisdom. Finally, we discuss future directions that empirical ethics research can take

This study focuses on mindfulness programs in the corporate world, which are receiving increasing attention from business practitioners and organizational scholars. The workplace mindfulness literature is rapidly evolving, but most studies are oriented toward demonstrating the positive impacts of mindfulness as a state of mind. This study adopts a critical perspective to evaluate workplace mindfulness practice as a developmental process, with a focus on its potential risks that have ethical implications and are currently neglected by both researchers and practitioners. We draw from a Buddhist perspective that understands mindfulness training as an ethics-based, longitudinal, and holistic path. To this end, we develop a four-stage model to illustrate a potential developmental process for participants in workplace mindfulness programs. This model comprises four stages of preliminary concentration, deep concentration, self-transcendence, and reengagement, each of which has its own underlying characteristics and impacts on individual participants and organizations.

Business scholars have recently proposed that the virtue of personal wisdom may predict leadership behaviors and the quality of leader–follower relationships. This study investigated relationships among leaders’ personal wisdom—defined as the integration of advanced cognitive, reflective, and affective personality characteristics (Ardelt, Hum Dev 47:257–285, 2004)—transformational leadership behaviors, and leader–member exchange (LMX) quality. It was hypothesized that leaders’ personal wisdom positively predicts LMX quality and that intellectual stimulation and individualized consideration, two dimensions of transformational leadership, mediate this relationship. Data came from 75 religious leaders and 1–3 employees of each leader (N = 158). Results showed that leaders’ personal wisdom had a positive indirect effect on follower ratings of LMX quality through individualized consideration, even after controlling for Big Five personality traits, emotional intelligence, and narcissism. In contrast, intellectual stimulation and the other two dimensions of transformational leadership (idealized influence and inspirational motivation) did not mediate the positive relationship between leaders’ personal wisdom and LMX quality. Implications for future research on personal wisdom and leadership are discussed, and some tentative suggestions for leadership development are outlined

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.

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making, and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide a balanced and integrated way of knowing, deciding, and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business

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.

This paper considers the problem of situating spirituality in the contemporary workplace that has little direct concern for contemplating the nature of the ultimate, immaterial reality, the greater good, or the inner life of employees’ souls. We argue that contemporary discourse has accommodated spirituality (in the workplace) primarily as either an opiate that dulls psychic pain or as an abstract formula that obfuscates our conditions of existence and actually reduces our capacity for transcendence or going beyond. Clearly this is meant to be a provocative paper, but our purpose is to use intellectual rigour to question the assumptions underlying workplace spirituality

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.

Leaders are faced with ethical and moral dilemmas daily, like those within the military who must span from large-scale combat operations to security cooperation and deterrence. For businesses, these dilemmas can include social and environmental impact such as those in mining; and for governments, the social and economic impact of their decision-making in their response to COVID-19. The move by Western defence forces to align their foundational principles, policies, and “soldier” dispositions with the changing values of the countries they serve are starkly illustrative of challenges faced by all leaders. While admirable, such changes face the apparent contradiction of enhancing individual moral agency within a hierarchical organization that maintain enforceable codes of conduct. Ethical leadership theory provides aspirational goals, but lacks empirically based guidance on how to implement policies that facilitate values-based behavior. Using a discourse theory analysis of a moral dilemma vignette with Royal Australian Air Force personnel, this research identifies important aspects of agency and subject position that must be addressed if such policies are to succeed. These findings show that the potential contradiction can be addressed by acknowledging the contrasting tendency to bureaucratic process by leaders at upper levels, while lower-level leaders address moral issues by incorporating their subjectivity and making a conscious deontological choice between humanity and comrade loyalty.

A social license to operate (SLO) is said to result from a complex and sometimes difficult set of negotiations between communities and organizations (NGOs, government, and industry). Each stakeholder group will hold different views about what is important, what is true, and who can or cannot be trusted. This article reviews the contributions made in this special issue on SLO. It also sketches the benefits of applying phronesis, or a practical wisdom-based theorization, of how SLOs can be co-produced

Innovation ecosystems are formed by interconnected firms that coalesce in interdependent networks to jointly create value. Such ecosystems rely on the norm of reciprocity—the give-and-take ethos of sharing knowledge-based resources. It is well established that an ecosystem firm can increase its competitive advantage by increasing interconnectedness with partners. However, much research has focused heavily on the positive role of inbound openness or ‘taking’ resources from ecosystem partners. The positive role of outbound openness or ‘giving’ resources to ecosystem partners remained less explored and often misunderstood as eroding competitive advantage. We address this gap by first developing a conceptual model about the mediating role of inbound openness and outbound openness in the relationship between a firm’s ecosystem interconnectedness and competitive advantage. We then test this model on a large sample (_n_ = 794 managers) from Silicon Valley (USA) and Macquarie Business Park (Australia). Results indicate that outbound openness is a more important mediator than inbound openness for ecosystem firms seeking competitive advantage. Our findings suggest that the effect of outbound openness goes beyond merely generating tit-for-tat reciprocity to generating strategic benefits in their own right. The study adds to knowledge about the ethics of innovation ecosystems by showing that outbound openness to partners improves competitive advantage. Ecosystem firms, thus, do well by doing good when they increase their outbound openness.

This article brings together mindfulness and habitus theory in relation to developing wise leaders. In particular, we present new insights about the intersection of time, subjective and intersubjective experience, and mindfulness that are relevant to developing embodied wisdom in leaders. We show that temporal competence is essential for shaping habitus and developing embodied wisdom. Further, and to extend theoretical understandings of mindfulness in leadership, we argue that temporal capabilities developed through mindfulness can foster embodied wisdom by creating a specific ‘wisdom habitus’ that includes values and ethics. The system of dispositions that comprise one’s habitus is, however, largely unconscious and implicit and we discuss how mindfulness renders habitus, including ethical conation accessible to development for the bodily ability to act wisely. This article then establishes a framework that leadership development programs in business schools can adopt for understanding habitus and mindfulness to enable embodied wisdom to develop in leaders. Finally, we show that a mindfulness perspective offers valuable contributions to research on leadership.

This paper considers why wisdom is important in knowledge-intensive service sector organisations. The paper argues that although wisdom necessarily has links to knowledge, knowledge does not necessarily have links to wisdom. The paper also argues that a distinguishing feature of knowledge economies is the extent to which abstract forms of knowledge, particularly theory, are used for commercial purposes in the service sector. The commercial application of abstract knowledge presents particular challenges for managerial and organisational wisdom. An analysis of Enron’s failure as an abstract knowledge and innovation intensive organisation that lacked wisdom is provided to illustrate this point. Finally, the paper considers particular organisational communication processes that facilitate wise organisational behaviour that will enable better use of abstract knowledge.

We trace the genealogy of wisdom to show that its status in epistemological and management discourse has gradually declined since the Scientific Revolution. As the status of wisdom has declined, so the status of rational science has grown. We argue that the effects on the practice of management of the decline of wisdom may impede management practice by clouding judgment, degrading decision making, and compromising ethical standards. We show that wisdom combines transcendent intellection and rational process with ethics to provide a balanced and integrated way of knowing, deciding, and acting for managers in a complex and uncertain business environment. Finally, we discuss the role and value of wisdom across a range of business functions including knowledge management, strategic management, leadership and international business.

Discourse about knowledge-based economies rarely moves beyond the commercialization of science and engineering, and is locked in the discursive limits of functionalism. We argue that these discourses limit the scope of what knowledge-based economies might achieve because they are uninformed by an adequate conception of knowledge. In particular, knowledge management and knowledge-based economy discourse has not included the axiological dimension of knowledge that leads to wisdom. Taking an axiological perspective, we can discuss policy frameworks aimed at producing the social structures needed to bring fully formed and fully functioning knowledge societies into being. We argue that while the dominant discourse of industrial modernity remains rationalist, functionalist, utilitarian and technocratic, knowledge-based economies will resemble a savant rather than a sage. A wisdom-based renaissance of humanistic epistemology is needed to avoid increasing social dysfunction and a lack of wisdom in complex technological societies.