ABSTRACT
Wisdom is concerned with fundamental matters of life, which in the management context may manifest in practices that lead the organization towards ‘success’ without compromising the well-being of those associated with the organization, including local and global communities. The wisdom aspects are: future thinking, perspective-taking, ethical consideration, cognitive mastery, emotional mastery, self-awareness, other-awareness, internal reflection, and external reflection. Good decisions are grounded in accepted values in management practices and are also congruent with organizational and social values. Wisdom as a cognitive process refers to “attempts at understanding the world in a disinterested way, seeking the ultimate consequences of events as well as ultimate causes while preserving the integration of knowledge”. Cognitive processes involve what humans perceive from the world and representing it either conceptually or practically, rationally or non-rationally. Self-awareness is a fundamentally important aspect of wisdom in management, where high levels of self-awareness are necessary. Self-awareness refers to the intimate understanding of one’s own qualities, characteristics, and abilities.
