Practical Wisdom and Business Ethics

Practical wisdom has received scant attention in business ethics. Defined as a disposition toward cleverness in crafting morally excellent responses to, or in anticipation of challenging particularities, practical wisdom has four psychological components: knowledge, emotion, think ing, and motivation. People's experience, reflection, and inspiration are theorized to determine their capacity for practical wisdom-related performance. Enhanced by their abilities to engage in moral imagina tion, systems thinking, and ethical reframing, this capacity is realized in the form of wisdom-related performance. This can be manifested either in wise business decisions or through their performance as mentors, advice givers, or dispute handlers.

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