Management wisdom in perspective: are you virtuous enough to succeed in volatile times?

Intezari, Ali and Pauleen, David J. (2013) Management wisdom in perspective: are you virtuous enough to succeed in volatile times?. Journal of Business Ethics, 120 3: 393-404. doi:10.1007/s10551-013-1666-6


Author Intezari, Ali
Pauleen, David J.
Title Management wisdom in perspective: are you virtuous enough to succeed in volatile times?
Journal name Journal of Business Ethics   Check publisher's open access policy
ISSN 1573-0697
0167-4544
Publication date 2013-03
Year available 2013
Sub-type Critical review of research, literature review, critical commentary
DOI 10.1007/s10551-013-1666-6
Open Access Status Not Open Access
Volume 120
Issue 3
Start page 393
End page 404
Total pages 12
Place of publication Dordrecht, Netherlands
Publisher Springer Netherlands
Language eng
Formatted abstract
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.
Keyword Wisdom
Unpredictability
Knowledge
The limitations of knowledge
Sustainability
Ethics
Virtue
Innovation
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Critical review of research, literature review, critical commentary
Collection: UQ Business School Publications
 
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Created: Fri, 08 Apr 2016, 11:20:38 EST by Ali Intezari Harsini on behalf of UQ Business School