Introduction

This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book aims to provide an integral and practical framework for incorporating wisdom into business and management practices in both the private and public sectors. It focuses on significant traditions and approaches to wisdom to develop an interdisciplinary conceptual framework of wisdom and in relation to complex and wicked problem as encountered by organizations. The book provides a review of the fundamental concepts of wisdom and organizational problems. It explains philosophical discourses of wisdom and then moves to contemporary psychological studies of wisdom. The book also provides further discussions about multiple fundamental aspects related to management decision making. It argues that knowledge, being past-oriented, may not be sufficient in handling future circumstances. It discusses specific manifestations of wisdom in the organizational context.