“…An integrated practically wise EDM framework Source . Adapted from Schwartz (), Reynolds () and Bachmann et al ()…”
Section: An Integrated Practically Wise Edm Frameworkmentioning
confidence: 99%
“…This latter capacity applies to issues in which it is relatively easy to identify that something is wrong (for example, when robbery or bribery is at stake). Instead, practical wisdom is related not only to the identification of what is unethical but also to the deliberation on the definitions of the common good, justice or human rights and how these values should be pursued (Bachmann et al, ). In this context, an issue such as the UNE‐Millicom merger proposal is a matter of practical wisdom.…”
Section: An Integrated Practically Wise Edm Frameworkmentioning
confidence: 99%
“…The need for normative and philosophical groundings of EDM is acknowledged in Bachmann et al’s () practical decision‐making theoretical proposal. They consider that decision makers should guide their decisions by aiming “to achieve a good life in general, both for oneself and for the community” (p. 133).…”
Section: Introductionmentioning
confidence: 99%
“…This paper offers a dialog between two theoretical frameworks that, as far as we know, had not previously been linked: Schwartz’s () integrated empirical approach to EDM and Bachmann et al’s () practically wise decision‐making normative proposal. These two frameworks contribute to EDM beyond the predominant rationalist and value‐free approaches.…”
Integrated approaches in the ethical decision‐making (EDM) and practically wise decision‐making literature are emerging as alternative perspectives to management theories that conceptualize decision‐making in a rationalist and value‐free manner. However, more dialogue between both perspectives and qualitative research that applies them is required. In addition, there is a need for empirical analysis on business engagement in the face of grand challenges in developing countries. This paper proposes an integrated practically wise EDM framework to study how Colombian councilors who, in 2013, voted for or against the merger between the Colombian state‐owned company UNE and the Swedish multinational Millicom interpret this decision and its public impact. Qualitative semi‐structured interviews were conducted with a voluntary sample of 18 of 21 councilors. Supporters of the UNE‐Millicom merger expressed open‐mindedness, seeing the merger as a means to achieve justice. On the contrary, the merger’s opponents expressed circumspection, doubting that Millicom’s intentions really leaned toward justice. We conclude that practical wisdom—embodied by both supporters and detractors—fosters an understanding of EDM beyond what leaders should not do. It also includes a democratic and balanced deliberation on what leaders think they should do to promote the common good.
“…An integrated practically wise EDM framework Source . Adapted from Schwartz (), Reynolds () and Bachmann et al ()…”
Section: An Integrated Practically Wise Edm Frameworkmentioning
confidence: 99%
“…This latter capacity applies to issues in which it is relatively easy to identify that something is wrong (for example, when robbery or bribery is at stake). Instead, practical wisdom is related not only to the identification of what is unethical but also to the deliberation on the definitions of the common good, justice or human rights and how these values should be pursued (Bachmann et al, ). In this context, an issue such as the UNE‐Millicom merger proposal is a matter of practical wisdom.…”
Section: An Integrated Practically Wise Edm Frameworkmentioning
confidence: 99%
“…The need for normative and philosophical groundings of EDM is acknowledged in Bachmann et al’s () practical decision‐making theoretical proposal. They consider that decision makers should guide their decisions by aiming “to achieve a good life in general, both for oneself and for the community” (p. 133).…”
Section: Introductionmentioning
confidence: 99%
“…This paper offers a dialog between two theoretical frameworks that, as far as we know, had not previously been linked: Schwartz’s () integrated empirical approach to EDM and Bachmann et al’s () practically wise decision‐making normative proposal. These two frameworks contribute to EDM beyond the predominant rationalist and value‐free approaches.…”
Integrated approaches in the ethical decision‐making (EDM) and practically wise decision‐making literature are emerging as alternative perspectives to management theories that conceptualize decision‐making in a rationalist and value‐free manner. However, more dialogue between both perspectives and qualitative research that applies them is required. In addition, there is a need for empirical analysis on business engagement in the face of grand challenges in developing countries. This paper proposes an integrated practically wise EDM framework to study how Colombian councilors who, in 2013, voted for or against the merger between the Colombian state‐owned company UNE and the Swedish multinational Millicom interpret this decision and its public impact. Qualitative semi‐structured interviews were conducted with a voluntary sample of 18 of 21 councilors. Supporters of the UNE‐Millicom merger expressed open‐mindedness, seeing the merger as a means to achieve justice. On the contrary, the merger’s opponents expressed circumspection, doubting that Millicom’s intentions really leaned toward justice. We conclude that practical wisdom—embodied by both supporters and detractors—fosters an understanding of EDM beyond what leaders should not do. It also includes a democratic and balanced deliberation on what leaders think they should do to promote the common good.
“…The notion of practical wisdom is often invoked as a key to wise management and better leadership. In their article Claudius Bachmann et al (2018) suggest that rather than technical and algorithmic decision making, practical wisdom is increasingly perceived as a necessary resource for excellence in judgment. They also point out that so far, little effort has been devoted to provide substantive guidance on how to apply practical wisdom into day-to-day managerial decision-making processes.…”
Systems are now extremely complex with the continuous involvement of multiple stakeholders and rapidly advancing technology, and a new way of viewing high‐performance system management and decision‐making is needed. This paper considers the use of practical wisdom as a promising way of revitalising system management to improve the success rate in making critical decisions. Practical wisdom has been investigated as a useful approach in many fields, including philosophy, psychology, health, education and organisation studies: however, its application to system management is sparse. Questionnaires were sent to 124 manager participants to assess their view of the importance of various practical wisdom attributes as these relate to system management success. Applying the exploratory factor analysis technique emerged the following factors: (1) practical mindset; (2) stakeholder mindset; (3) moral mindset; (4) win‐win mindset; and (5) holistic thinking mindset. Two of these factors, stakeholder mindset and win‐win mindset, have not previously emerged in practical wisdom research. The factors extracted were validated via both technical techniques and considered commentary by senior leadership practitioners. The results of this study can assist managers to develop greater insight into optimal management of increasingly complex systems via consideration of these practical wisdom factors and the interplay between them.
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