ABSTRACT
This chapter examines the concept of wisdom from a management perspective based in large part on the philosophical and psychological understandings of wisdom. Wisdom has been examined in many management-related fields, including leadership, and management education, as well as public administration, and policy making. R. Biloslavo and B. McKenna suggest a developmental model of wisdom that aims to identify human characteristics that indicate wisdom in individuals. A comprehensive theory of wisdom in management and organizational contexts is the theory of Social Practice Wisdom introduced by D. Rooney and McKenna. Providing multiple wisdom definitions, conceptions, and statements from diverse approaches in one place may facilitate an inter-disciplinary understanding as to the meaning and nature of wisdom, and the elements researchers have proposed as associated with wisdom. Wisdom in the business context is about achieving business goals, while making sure that the goals are good ends in terms of ethics and the impacts that the goals will have on various stakeholders.
