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This paper aims to stress the importance of practical wisdom (phronesis) for the knowledge management field. It is a relevant intellectual and ethical resource for responding to recent changes in the business environment and for responsibly and sustainably aligning organizations for the future. Organizations must find ways to reconcile social, environmental and economic goals and meet different and conflicting stakeholder needs. To this end, the authors challenge knowledge management researchers to feature practical wisdom as an enabler for responsible knowledge management built on solid ethical foundations.

The authors introduce the concept of phronesis, reaching from Aristotle’s The Nicomachean Ethics to Nonaka and Takeuchi’s The Wise Company. Based on a systematic review of the literature, the authors performed a bibliometric analysis. Moreover, the authors discuss the findings and offer avenues for future research.

The results provide an overview of the research on phronesis in the knowledge management field. It points out the leading articles and journals (e.g. Journal of Business Ethics and Journal of Knowledge Management). Likewise, it identifies thematic areas, i.e. knowledge management field, knowledge dynamics, organizational wisdom, leadership and followership, corporate social responsibility and red flags.

In this essay, the authors advise practical wisdom as a promising candidate for advancing the field of knowledge management towards responsible knowledge management. To pursue this, the authors propose to address instability and continuous change through practical wisdom and outline a research agenda to guide further research.

The aim of this paper is to explore how virtue ethics might inform our understanding about what constitutes “good” practice in forensic accounting. In particular, the paper explores the concept of phronesis (or practical wisdom) as a basis for guiding the application of professional judgement in forensic accounting practice.

The paper draws on a review of relevant literature.

Prior literature has identified a number of technical and personal characteristics and attributes that are desirable in forensic accounting practitioners. Although being ethical is identified as an important characteristic, the question of what constitutes a “good” forensic accountant has not hitherto been investigated. Because of the profession’s multi-disciplinary and highly technical nature, forensic accountants are significantly at risk of conflating ethics with compliance with the law. The paper suggests that an understanding of virtue ethics and especially the virtue of “phronesis” or practical wisdom will help forensic accountants maintain public confidence and quality in their services and provide practical guidance on the exercise of professional judgement.

The paper suggests that the primacy currently given in forensic accounting literature and practice to a commercial logic, technical competencies and legal compliance risks damaging the professional standing of forensic accountants and, over time, reduces the ability of forensic accountants to exercise professional judgement in complex unstructured situations. Virtue ethics can act as a useful counter point to these threats.

A recognition of the need for the forensic accounting profession to collectively develop phronesis would re-establish the primacy of the profession’s public interest logic and maintain public trust and quality in forensic accounting services.

There appears to be no prior literature in forensic accounting which explores the application of virtue ethics in this field. In addition, although virtue ethics has been the subject of some prior papers in accounting per se, the importance of phronesis as a basis for understanding the nature and application of professional judgement has not been addressed.

This chapter examines the common good orientation of (i) African indigenous wisdom about responsible management in the light of (ii) Aristotelian epistemic architecture of phronesis and (iii) Catholic Social Teaching. Looking at what the chapter contributors found in Ghana, Zimbabwe, Nigeria, South Africa, Lesotho, Uganda, Cameroon, and Egypt, the authors compare and contrast what common good means in these three great traditions that have done much to shape the world into what it is today and that can continue to help redirect humans into more responsible and sustainable domains of flourishing. The results show that the three traditions have much in common albeit with some nuances due to the disparity in their contexts and cultural settings. The expectation that the wise business leader should judge rightly and act ethically in pursuance of the common good is common to all three. The communitarian element of African indigenous wisdom stands out as the polis where wise leaders are taught and groomed for their responsibilities to the community. Where the person is disconnected from this reality of community, it could become more difficult for him or her to attain and maintain moral uprightness.

The purpose of this paper is to argue for a transformative education that acknowledges and values the capacities of mature students, where higher education institutions reflect on their own assumptions and practices in order to become more inclusive and open to difference.

The stories told by Eliza, a mature student, are analysed through narrative inquiry; this approach uses a narrative as a means of capturing and analysing experience. In this case, Eliza’s stories about transition and transformation were collected over three years. Eliza made the transition from her “Access to HE course” to a degree programme in textiles. She was crossing a boundary between further and higher education, a time which could impact positively or negatively on her future achievements. The conclusions drawn from this study are not easily turned into generalisations or “truths” as they are contingent on the contexts in which the narratives were produced. Narrative is a representation of experience which is mediated by the social and cultural positions of the narrators and their audiences.

This study found that Eliza was confronted by many difficulties and misunderstandings around time management, pedagogy and assessment. Ineffective communication between Eliza and her tutors led to a growing frustration resulting in her considering leaving the course. Eliza’s institution sometimes seemed inflexible and was unable to respond effectively to her needs as a part-time student.

The implications for educators are that they should think about strategies for adapting to a diverse student body.

The previous experiences and backgrounds of “newcomers” should be celebrated rather than being perceived as “issues” that need to be fixed. In other words, when “non-traditional” students move through the stages of their education, their learning contexts may also need to be transformed.

The purpose of this paper is to show that relationships between academics and professionals can gain in organizational studies by prioritizing practical wisdom, which also benefits teaching.

To explore practical corollaries of Flyvbjerg's claim that social scientists are better equipped than natural scientists to produce phronesis or practical wisdom.

Practical wisdom emerges when social scientists interact with professionals. In (relational) practice, Organizational Science scientists and practitioners develop local knowledge that cannot be taught a priori but which develops bottom up and emerges from practice. Scientists and practitioners converse, exchange interpretations and perspectives, in specific contexts. Interaction and communication with OS practitioners seems for OS professionals to be a necessary human condition to develop phronesis.

Explores implications of Flyvberg's method to critically study discourse among OS scientists and between them and OS practitioners. Examine how discourse changes on the basis of an example of phronesis.

To provide a practical contribution to the theory/practice debate.

This paper aims to explore the ethical dilemmas faced by records administrators concerning political impartiality by examining the case of the National Archives and Records Administration (NARA) in the USA, which has faced reputational challenges due to perceived political bias.

This paper proposes a phronetic approach to resolve the ethical dilemmas associated with political impartiality in records administration. This approach emphasizes practical wisdom and ethical decision-making, offering a unique and effective way to address the challenges faced by presidential record archivists.

The proposed phronetic approach provides a means to resolve the ethical challenges posed by political impartiality in records administration, with a particular focus on NARA. By taking a transparent and impartial approach, agencies can minimize criticism and ensure their continued ability to equitably serve the public.

The phronetic approach offers a framework for addressing ethical dilemmas related to political impartiality in records administration, with potential implications for other independent agencies facing similar challenges.

This paper offers a unique perspective on the ethical dilemmas of political impartiality in records administration and proposes a practical and effective approach to resolving these challenges. It contributes to the broader discussion on the intersection of ethics and public administration.

Although the notion of wisdom confronts the economic rationale of business organizations, this paper aims to argue that organizations are coming under increasing pressure not only to learn, change and adapt, but also to take actions that are ethically acceptable and respond to the expectations of multiple stakeholders, or in other words to act wisely. Accordingly this article seeks to progress the debate on the relationship between organizational learning, learning organizations and wisdom, in pursuit of a new version of the model of the learning organization, the practically wise organization.

First, the literature on the learning organization and organizational learning is reviewed with a view to the identification of useful models and concepts. The paucity of reference to wisdom in that literature is noted. The following sections develop the theme of practical wisdom and, the essence of the practically wise organization, respectively. Finally a model for the practically wise organization that is both a virtuous and a learning organization is proposed.

The paper finds that a practically wise organization is a learning organization whose learning architecture is based on the principles of practical wisdom. Such an organization manages the processes associated with the seven pillars of wisdom: understanding dynamic complexity; developing personal wisdom competency; deliberating towards ethical models; refreshing shared sustainable vision; group wisdom dynamics; deliberated praxis; and embodied learning.

The article is a first step towards extending the theory and practice associated with the learning organization and organizational learning to embrace the multi‐stakeholder, ethically and morally informed perspectives embedded in the notion of practical wisdom.

This chapter explores practical wisdom’s role in managing the application and use of soft skills. The authors explore how practical wisdom can connect technical and soft skills by developing moral skill and moral will to enhance ethical decision-making. Given practical wisdom’s importance, the authors further examine its role in the experiential learning process and how experiential learning activities like the Giving Voice to Values (GVV) curricular offering can bring practical wisdom and soft skills into the classroom with modest effort and investment. Through the application of the GVV methodology to a case study, the authors demonstrate how practical wisdom can be used in accounting education to support and advance accounting students’ moral and skill development, and accounting educators looking to do so can use this chapter as a starting point.

This paper aims to explore the implications of applying a Bourdieusian meta-framework to business interaction and relationship building within networks. The motive is to advocate the use of Bourdieu’s work in its entirety rather than sub-optimal use of selected concepts in isolation.

The aim of this conceptual paper is to explore how a Bourdieusian framework benefits understanding of structure/agency relations as a mutually constituted duality within business networks. The concept of duality regard relationships as emergent from synergies between structure and agency made possible by the translational capacity of “habitus”. Habitus is, therefore, the main intersection, catalyst or chiasmus between structure and agency facilitating enacted, emergent properties of business relationships.

The Bourdieusian framework suggests that structures and practices are related by multiple dualities brokered by multiple knowledge forms. The main contribution that this triadic framework brings to debates on structure-agency relationships is mostly contained in the concept of “habitus”, which is identified as a translation vehicle provides critical brokerage between actors’ resource structures and activities. It is a key concept that helps us understand how structures and agentic behaviours are equally important and mutually constituting influences upon emergent properties of business interaction. For business marketing, this means that the habitus of actors’ schemas are both embodied and cognitive. Habitus acts as the main catalyst for emergent and diverse capital resources and a plural set of skills essential for effective practical activities.

The research focus of a Bourdieusian framework is upon investigating a triadic understanding of concepts of habitus, field and practice as elements of a “pan-relational” or mutually constituted amalgam facilitated by a corresponding triadic relationship between three types of knowledge; namely, “illusio”, “phrónesis” and “poíesis”.

By adopting a Bourdieusian framework, this paper can regard the practical development of durable business relationships as involving interactions that adequately co-ordinate the different habitus, sub-fields and practices of parties as shared. The implication is that the practitioner needs to be equally competent in their use of “illusio”, “phrónesis” and “poíesis” as different knowledge forms whose sum is greater than its parts.

The approach reveals that habitus emphasizes that structures are never entirely conscious and calculated schemas as they contain unconscious, embodied habits fuelled by tacit, cultural knowledge infused with symbolism, mythologies and rituals, which are communicated mostly indirectly through analogical reasoning, narrative, heuristics and embodied gestures.

The purpose of this chapter is to describe an accounting ethics course whose purpose, in part, is to short circuit the process that leads to foolish ethical decisions by professional accountants. In addressing how to make ethical decisions, the course deliberately includes processes intended to develop wisdom and to impede reflexive decisions that reflect the five fallacies of thinking. The approach described represents an active, engaging approach to increasing dialogical and dialectical reasoning in students’ pursuit of wisdom through individual selection of outside reading, engaging speakers, and the use of ethics accountability groups. The course is adaptable to large and small class settings where the professor desires extensive interaction among students, and it creates an environment designed to help students develop self-chosen principles to guide their professional lives. Students take responsibility for developing self-determined principles to guide their professional lives. Clearly identifying these principles provides students a basis for resisting ethical compromises in their careers. The course focuses students on developing wisdom and recognizing the weaknesses in a purely calculation-based moral reasoning.