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Practical wisdom (PW; phronesis), as one of the human virtues, is experiencing a renewal in the contemporary management literature. The aim of this conceptual paper is first, to explore the core practices of managers and leaders in the literature and second, to demonstrate how PW can manifest itself in these practices.

The research follows the interpretivist research philosophy, inductive approach, qualitative method and the theory-building research strategy. The data collection method is a literature review. The practice ecosystem framework is applied to demonstrate the presence of PW in the core practices of managers and leaders.

The paper proposes a practice-based paradigm of management and leadership. From the literature study, envisioning, enabling, energizing, engaging and executing as five fundamental practices are identified.

The most significant literature was selected based on decisions of the author. Therefore, it might be that important sources were overlooked. The paper proposes future research questions, and it calls for an empirical validation of the proposed conceptual model in management and leadership practices context.

The practical implications for managers and leaders are in applying the framework developed in this paper as a tool or guidelines to cultivate PW in their practices. The paper offers implications for management education, traditional educational institutions and educational practitioners because they are the key influencers of wise thinking and actions of future managers and leaders.

The novelty of this paper is in making explicit how the eight features of PW can manifest themselves in the everyday actions of managers and leaders. Applying the practice ecosystem framework for this purpose is an original contribution.

There is a global concern about the effectiveness of vocational education and training (VET) programmes in developing job-related skills and competencies for real-world environments for disadvantaged and unemployed youths. Experiential learning (EL) is a major component of VET programmes. This article aims to examine the effects of facilitating VET through EL theory to promote youths' skills acquisition. The study looks at the effects of material resources on the use of experiential learning theory (ELT), the types of EL and the contribution of ELT to VET programmes.

The research design mainly entails a qualitative research design and research method to allow the researcher to view the reality as is experienced from the inside out by the trainees and training centre managers on important data for a thorough understanding. The study participants were 512 young trainees who completed different training courses from the VET programmes and 24 centre managers in the KwaZulu-Natal province of South Africa.

The findings reveal that the use of ELT in VET programmes helped the trainees to gain real-world skills, hence contributing to their empowerment in terms of work experience and competence for their future employment. Based on the findings, the study concludes that ELT is an effective instrument to promote VET programmes for disadvantaged and unemployed youths.

The practical and social implications of the findings are that, while disadvantaged youths cannot access and afford higher education, public and private sectors can remedy their situation by providing non-school-based technical and vocational training to help such youths enter the labour market. The findings will motivate the providers of skills development for unemployed youths to use ELT in designing course curricula, planning resources and directing teaching-learning approaches to help trainees to acquire skills and competencies to perform tasks close to real-work situations.

The socio-economic implication of the article is that skills development plays an important role in poverty reduction. Investing in the skills development of citizens is vital to raise the incomes of poor groups and to reduce poverty (ILO, 2018). Although the causes of unemployment have also to do with economic factors in a country, skills development is an essential ingredient in developing capacities for labour market entry and increased income generation of a vulnerable group of people.

The article is significant because the study provides new insights into the use of ELT in VET programmes to improve their effectiveness in developing job-related skills and competencies for real-world environments for disadvantaged and unemployed youths. The study contributes to the body of knowledge by establishing a solid base for the evidence-informed practice of the effects of facilitating the VET programme through ELT to promote skills acquisition for the employment of unemployed and disadvantaged youths.

This paper aims to investigate materiality judgement providing insights, critiques and future research paths in light of the open debate on the role of materiality in corporate financial disclosure, highlighting potential connections and implications with sustainability and intellectual capital (IC) reporting.

The research presents an overview of the analysis of financial materiality, including new stimuli from recent studies and regulatory requirements for financial and non-financial reporting. Accordingly, this study used a systematic literature review (SLR) based on a combination of content, text and bibliometric analysis of materiality in accounting research studies, collecting data from the Scopus database as one of the most relevant repositories.

The SLR identified four relevant research trends, concerning: (1) the relevance of materiality principles in corporate disclosure; (2) financial reporting practices and materiality; (3) theories and approaches in defining financial materiality and (4) the existence of quantitative and qualitative thresholds in the materiality judgement.

The results provide theoretical and practical implications when comprehending the development of the concept of financial materiality in financial statements and whether they can be appropriate in reporting IC as well. We identified future research paths.

From a practical perspective, this study is useful for companies implementing financial materiality based on stakeholder engagement and improving their transparency in financial and non-financial reporting practices.

The research investigates if the process for assessing materiality is in line with the expectations of all stakeholders involved in financial and non-financial reporting.

This research is the first to investigate the scientific basis and applicability of the concept of financial materiality to sustainability and IC reporting.

The purpose of this research is to examine the dynamics of news coverage within Brazil, Russia, India, China and South Africa (BRICS) nations, aiming to uncover patterns and critical factors influencing political and economic development policies. By providing a comprehensive overview of macro-level and sector-level economic trends reported by member country newspapers, the study seeks to understand problem-driven analysis schemes and proposed solutions to challenges. Additionally, it aims to evaluate the economic implications of political decisions as portrayed in news coverage, scrutinize the promotion of meaningful dialog and assess the role of news in encouraging coherence among stakeholders for effective pursuit of economic development goals within the BRICS nations.

This qualitative research involves conducting a content analysis on 11 newspapers, each published by a BRICS member country, including established and recent members. The current study analyzes the national interests, economic implications of media frames, leaders’ statements and geopolitical contexts in light of the coverage of the newspapers under study and the BRICS' inclusion of new members from a political economy perspective.

All eleven newspapers emphasize the significance of the BRICS Summit and its role in shaping economic and geopolitical dynamics. They consistently highlight the cooperative and multilateral nature of BRICS, focusing on collaboration among member nations. All newspapers emphasize the importance of the BRICS Summit as a key event in global geopolitics. For instance, they discuss the 2023 BRICS Summit in South Africa as a focal point for member countries to discuss various global issues. Each newspaper discusses BRICS' role in advocating for equitable global governance and challenging Western dominance in international affairs. Economic aspects, such as trade, financial cooperation and economic growth within BRICS, are mentioned in the coverage of all eleven newspapers, underlining the economic dimension of the group. All eleven newspapers explore the expansion of BRICS and its implications, including differing member opinions and the introduction of new member countries. However, The Buenos Aires Times (Argentina) provides an in-depth focus on Argentina’s admission to BRICS and its significance, reflecting its unique perspective as a potential member. All newspapers recognize the media’s role in shaping awareness and discourse related to BRICS, but The Buenos Aires Times specifically focuses on Argentina’s perspective and how it informs its readers about global developments. Also, unlike other newspapers, The Buenos Aires Times mentions domestic political factors, including presidential elections in Argentina and opposition to Argentina’s BRICS membership, which impact the country’s stance. The newspapers' coverage of BRICS reflects their national interests, priorities and perspectives. While geopolitical and economic aspects are prominent, the depth of analysis, the emphasis on specific economic trends and the extent of problem-driven analysis vary. These diverse viewpoints provide readers with a comprehensive understanding of BRICS and its global impact. When comparing the 11 newspapers' coverage of BRICS-related topics, it’s evident that each publication brings its unique perspective and priorities to the forefront.

While this research provides valuable insights into news patterns and their influence on political and economic development in BRICS nations, certain limitations should be acknowledged. The study’s scope primarily relies on newspaper coverage, potentially omitting perspectives from other media sources.

The practical implications of this research are profound. Policymakers can leverage insights to craft informed strategies, and businesses and investors can gain a nuanced understanding of economic trends and media practitioners refine their coverage. The findings promote cross-cultural understanding within BRICS nations, encouraging cooperation. Global stakeholders can navigate the political-economic landscape more adeptly. Ultimately, the research provides actionable knowledge, facilitating effective decision-making, enhancing collaboration and contributing to the sustainable development and stability of the BRICS countries and the broader international community.

This research carries significant social implications by encouraging a deeper comprehension of the interplay between news media, politics and economics in BRICS nations. It promotes informed civic discourse, enabling citizens to critically engage with socio-political issues. By uncovering the media’s influence, the study contributes to media literacy, empowering the public to make informed decisions. Additionally, the research enhances cross-cultural understanding, potentially mitigating biases and stereotypes. Ultimately, it strengthens the social fabric by encouraging a more informed and engaged citizenry, capable of contributing positively to the political and economic development of their respective nations within the BRICS framework.

This research contributes originality and value by offering a nuanced exploration of news patterns in BRICS nations, going beyond surface-level analysis. By focusing on macro- and sector-level economic trends, the study provides a unique perspective on the interplay between media narratives and economic development. The examination of problem-driven analysis and proposed solutions adds depth, offering insights into policy implications. Evaluating the economic implications of political decisions through news coverage enhances understanding. Furthermore, the research’s emphasis on promoting meaningful dialog and assessing the role of news in stakeholder coherence contributes distinctive insights, enhancing the broader understanding of the interconnections between media, politics and economic development in the BRICS context.

This paper investigates and reports on the study abroad experiences of 22 teacher candidates from the Southeast region of the USA (n=22). The purpose of this paper is to examine the teacher candidates’ development of social and emotional learning through their international teaching experiences.

The study is framed by Critical Cosmopolitan Theory, which is a theoretical lens for a critical understanding of the development of global competencies for critical consciousness. The paper uses a case study research design (Yin, 2008), which included data collected via artifact analysis, participant interviews and participant observation through field notes.

The study found how the study abroad and international teaching experiences were instrumental in aiding in the teacher candidates’ social and emotional learning. This included the adoption of culturally responsive teaching practices, development of reading the world and enactment of taking action to rewrite the world.

One of the limitations is the relatively small sample size. This is due, in part, to the high cost associated with study abroad. The high cost of study abroad can be a barrier for students to access the cross-cultural experiences afforded by study abroad. The hefty price tag of study abroad often limits the number of teacher candidates at public institutions who can go on study abroad (Malewski and Phillion, 2009). A future research agenda is needed about ways to help off-set the costs in order to make study abroad more affordable and equitable.

The practical implications of this paper are that it provides an instructive lens for how to integrate social and emotional learning within a study abroad experience. At the same time, the paper connects socio-emotional learning (SEL) with the development of global competencies and global citizenship.

The social implications relate to the practical implications in that the paper illustrates how SEL is connected to the development of global citizenship development. The study weds the critical cosmopolitan framework with SEL to show how learners develop empathy through reading and rewriting the world.

The case study presented in this paper highlights the possibilities of study abroad in tandem with international teaching experiences to help prepare teachers with SEL features like fostering empathy, developing culturally responsive practices, and becoming critically conscious and cosmopolitan. The study fills a gap in the literature regarding the development of SEL among elementary education teacher candidates through study abroad and international teaching experiences.

The purposes of this study were (1) to explore empirical challenges in dimensioning safety buffers and their implications and (2) to organise those challenges into a framework.

In a multiple-case study following an exploratory, qualitative and empirical approach, 20 semi-structured interviews were conducted in six cases. Representatives of all cases subsequently participated in an interactive workshop, after which a questionnaire was used to assess the impact and presence of each challenge. A cross-case analysis was performed to situate empirical findings within the literature.

Ten challenges were identified in four areas of dimensioning safety buffers: decision management, responsibilities, methods for dimensioning safety buffers and input data. All challenges had both direct and indirect negative implications for dimensioning safety buffers and were synthesised into a framework.

This study complements the literature on dimensioning safety buffers with qualitative insights into challenges in dimensioning safety buffers and implications in practice.

Practitioners can use the framework to understand and overcome challenges in dimensioning safety buffers and their negative implications.

This study responds to the scarcity of qualitative and empirical studies on dimensioning safety buffers and the absence of any overview of the challenges therein.

This study aims to investigate how art events can enrich novice visitors by transforming their practices.

This research uses an interpretive case study of the art exhibition “1/1/1/1/1” in the Oppenheim gallery in Wroclaw. It draws on multiple sources of evidence, namely, novice visitors’ interviews, observation including photo studies and content analysis of art-makers’ mediation sources. This study is an example of contextual theorizing from case studies and participatory action research with researchers as change agents.

The evidence highlights that aesthetic values and experiences are contextual to practices and are transformable into other values. The findings illustrate the role of practice theory in studying how art-makers inspire the transformation of practices, including values driving the latter.

The findings provide implications for transformations of co-creating contextual values in contemporary visual art consumption and customer experience management.

Practical implications to arts organizations are also provided regarding cultural mediation conducted by art-makers. Exhibition makers should explain the meanings of the particularly visible artefacts to allow visitors to develop a congruent understanding of the meanings. The explanations should not provide ready answers or solutions to the problem art-makers suggest to rethink.

The social implication of our findings is that stakeholders in artistic ventures may undertake adequate, qualified and convergent actions to maintain or transform the defined interactive practices between them in co-creating contextual aesthetic values.

The study provides new insights into co-creating values in practices in the domain of contemporary art exhibitions by bringing the practice theory together with an audience enrichment category, thus illustrating how novice visitors get enriched by transforming their practices led by contextual values of “liking” and “understanding”.

Digital markets are increasingly constructed by an interplay between (non)human market actors, i.e. through algorithms, but, simultaneously, fragmented through platformization. This study aims to explore how interactional dynamics between (non)human market actors co-codify markets through expressive and networked content across social media platforms.

This study applies digital methods as cross-platform analysis to analyze two data sets retrieved from YouTube and Instagram using the keywords “sustainable fashion” and #sustainablefashion, respectively.

The study shows how interactional dynamics between (non)human market actors, co-codify markets across two social media platforms, i.e. YouTube and Instagram. The authors introduce the notion of sticky market webs of connection, illustrating how these dynamics foster cross-platform market codification through relations of exteriority.

Research implications highlight the necessity to account for all involved entities, including digital infrastructure in digital markets and the methodological potential of cross-platform analyses.

Practical implications highlight considerations managers should take into account when designing market communication for digital markets composed of (non)human market actors.

Social implications highlight the possible effects of (non)human market co-codification on markets and consumer culture, and corresponding countermeasures.

This study contributes to an increased understanding of digital market dynamics by illuminating interdependent market co-codification dynamics between (non)human market actors, and how these dynamics (de)territorialize digital market assemblages through relations of exteriority across platforms.

The purpose of this study is to address a critical gap in enterprise resource planning (ERP) implementation process for small and medium-sized enterprises (SMEs) by acknowledging and countering cognitive biases through a cognitive bias awareness matrix model. Cognitive biases such as temporal discounting and optimism bias often skew decision-making, leading SMEs to prioritize short-term benefits over long-term sustainability or underestimate the challenges involved in ERP implementation. These biases can result in costly missteps, underutilizing ERP systems and project failure. This study enhances decision-making processes in ERP adoption by introducing a matrix that allows SMEs to self-assess their level of awareness and proactivity when addressing cognitive biases in decision-making.

The design and methodology of this research involves a structured approach using the problem-intervention-comparison-outcome-context (PICOC) framework to systematically explore the influence of cognitive biases on ERP decision-making in SMEs. The study integrates a comprehensive literature review, empirical data analysis and case studies to develop the Cognitive Bias Awareness Matrix. This matrix enables SMEs to self-assess their susceptibility to biases like temporal discounting and optimism bias, promoting proactive strategies for more informed ERP decision-making. The approach is designed to enhance SMEs’ awareness and management of cognitive biases, aiming to improve ERP implementation success rates and operational efficiency.

The findings underscore the profound impact of cognitive biases and information asymmetry on ERP system selection and implementation in SMEs. Temporal discounting often leads decision-makers to favor immediate cost-saving solutions, potentially resulting in higher long-term expenses due to the lack of scalability. Optimism bias tends to cause underestimating risks and overestimating benefits, leading to insufficient planning and resource allocation. Furthermore, information asymmetry between ERP vendors and SME decision-makers exacerbates these biases, steering choices toward options that may not fully align with the SME’s long-term interests.

The study’s primary limitation is its concentrated focus on temporal discounting and optimism bias, potentially overlooking other cognitive biases that could impact ERP decision-making in SMEs. The PICOC framework, while structuring the research effectively, may restrict the exploration of broader organizational and technological factors influencing ERP success. Future research should expand the range of cognitive biases and explore additional variables within the ERP implementation process. Incorporating a broader array of behavioral economic principles and conducting longitudinal studies could provide a more comprehensive understanding of the challenges and dynamics in ERP adoption and utilization in SMEs.

The practical implications of this study are significant for SMEs implementing ERP systems. By adopting the Cognitive Bias Awareness Matrix, SMEs can identify and mitigate cognitive biases like temporal discounting and optimism bias, leading to more rational and effective decision-making. This tool enables SMEs to shift focus from short-term gains to long-term strategic benefits, improving ERP system selection, implementation and utilization. Regular use of the matrix can help prevent costly implementation errors and enhance operational efficiency. Additionally, training programs designed around the matrix can equip SME personnel with the skills to recognize and address biases, fostering a culture of informed decision-making.

The study underscores significant social implications by enhancing decision-making within SMEs through cognitive bias awareness. By mitigating biases like temporal discounting and optimism bias, SMEs can make more socially responsible decisions, aligning their business practices with long-term sustainability and ethical standards. This shift improves operational outcomes and promotes a culture of accountability and transparency. The widespread adoption of the Cognitive Bias Awareness Matrix can lead to a more ethical business environment, where decisions are made with a deeper understanding of their long-term impacts on employees, customers and the broader community, fostering trust and sustainability in the business ecosystem.

This research introduces the original concept of the Cognitive Bias Awareness Matrix, a novel tool designed specifically for SMEs to evaluate and mitigate cognitive biases in ERP decision-making. This matrix fills a critical gap in the existing literature by providing a structured, actionable framework that effectively empowers SMEs to recognize and address biases such as temporal discounting and optimism bias. Its practical application promises to enhance decision-making processes and increase the success rates of ERP implementations. This contribution is valuable to behavioral economics and information systems, offering a unique approach to integrating cognitive insights into business technology strategies.

This project inquires whether transitioning to adopting sustainable practices involves emphasizing the significance of education and skill development that aligns with employees' knowledge. Additionally, this project explores whether soft skills can act as a means for effective communication, collaboration and ethical decision-making when addressing the intricate and socially interconnected nature of sustainability challenges. Thus, this research explores employee sustainability knowledge and soft skills to gain a more nuanced understanding to provide evidence-based recommendations to enhance organizational sustainability initiatives.

This study used a form of chain-referral sampling with two populations. A two-step cluster analysis with a log-likelihood distance measure and Schwarz’s Bayesian criterion was employed to identify communities of employees with different levels of sustainable practices and soft skills knowledge. A corresponding analysis was conducted to better understand different communities in terms of industry and managerial experience. A confirmatory factor analysis was conducted using a covariance-based measurement model to establish measurement validity and reliability and to impute latent variables (i.e. constructs) scores.

Aligning human resource (HR) strategies with these identified knowledge communities enables organizations to strategically enhance comprehensive training programs promoting sustainable practices and soft skills. Tailored training and workforce development programs for each community are recommended, with the proposal of active training methods like Lego Serious Play to dynamically engage employees. As organizations increasingly invest in training, this research offers valuable insights for educators and industry professionals to better cultivate and apply soft skills to develop employee sustainability practices and enhance employee development.

Although this study’s findings are not generalizable to the population, they are useful when considering critical sustainability knowledge and soft skills necessary for employees in the hospitality industry. The convenience sample of this study could have been more robust, with participants with greater tenure in the industry or a better understanding of sustainable practices and soft skill competencies. This research used a Qualtrics survey to gather subject responses. This may have caused biases in responding to the survey, such as a central tendency, immediacy, the rater’s knowledge about each criterion or boredom with the survey length.

The practical implications drawn from this study’s findings offer actionable insights for organizations seeking to enhance sustainability practices within their workforce. As one navigates the diverse landscape of employee categories, including sustainable champions, emerging learners and skillful initiators, it becomes evident that a one-size-fits-all approach to training and workforce education is not conducive to cultivating a sustainable culture. In this section, some possible practical strategies tailored to each employee category are suggested, ensuring that organizations can effectively harness the unique strengths and development needs within their workforce.

Using a social cognitive theoretical lens (Bandura, 1977), sustainable catalysts' elevated knowledge levels make them influential contributors to the organization’s sustainability goals, while their adeptness in soft skills positions them as effective communicators, collaborators and leaders in fostering a culture of sustainability. Figure 1b displays this idea. As such, sustainable catalysts were present four times in the effectiveness of the top five soft skills, meaning these sustainable catalysts should be the area of primary focus as they can assist organizations by educating other employees due to their enhanced soft skills and level of sustainability knowledge.

Rooted in social cognitive theory, this study investigated how HR practices can effectively shape sustainability-related workforce development in the workplace. The results identified distinct knowledge communities – sustainable catalysts, skillful initiators, emerging learners and sustainable champions – aligned with quadrants of sustainable practice effectiveness. Aligning HR strategies with these identified knowledge communities enables organizations to strategically enhance comprehensive training programs promoting sustainable practices and soft skills.