Practical wisdom in corporate governance

Galsim, Alejo José Sison; Hühn, Matthias P.

doi:10.4324/9781315277851-8

Cited by 14 publications

(25 citation statements)

References 1 publication

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“…Staying committed to IPS-based virtuous growth, and avoiding more convenient, autonomous realization, means being a certain kind of person and living a certain kind of life with a telos (Sison & Hühn, 2018). Of course, this depends upon practically wise choices involving the self, others, and relational systems in a complicated, dynamic process, but it is never up to oneself to direct and master This moral psychology further entails the notion of circularity, that is, an ongoing process that involves the practical, personal-relational aspects of growth.…”

Section: An Appropriate Mor Al Psychology For Pr Ac Tic Al Wis Dom:mentioning

confidence: 99%

In search of a fitting moral psychology for practical wisdom: Exploring a missing link in virtuous management

Akrivou

Scalzo

2020

Business Ethics: A Eur. Rev.

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While business as a social activity has involved communities of persons embedded in dense relational networks and practices for thousands of years, the modern legal, theoretical psychological, and moral foundations of business have progressively narrowed our understanding of practical wisdom. Although practical wisdom has recently regained ground in business ethics and management studies, thanks mainly to Anscombe's recovery of virtue ethics, Anscombe herself once observed that it lacks, and has even neglected, a moral psychology that genuinely complements the nuanced philosophical perspective of a virtue-centered moral philosophy. Herein, we offer one way to fill this gap by suggesting two opposing psychological paradigms, namely the inter-processual self and the autonomous self, which are classified according to the assumptions they make about the self, human agency and action more broadly, as well as how they relate to practical wisdom. Upon presenting these moral psychologies, we will bring this proposal into conversation with business ethics to show how the IPS paradigm can enable and support virtuous management.

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Section: An Appropriate Mor Al Psychology For Pr Ac Tic Al Wis Dom:mentioning

confidence: 99%

In search of a fitting moral psychology for practical wisdom: Exploring a missing link in virtuous management

Akrivou

Scalzo

2020

Business Ethics: A Eur. Rev.

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“…But what are the distinctive features of practical wisdom that make us associate it with the ideal of independence in corporate governance? We follow through Sison and Hühn (2018) to highlight the main characteristic of practical wisdom for corporate governance.…”

Section: The Second Generation: a Positive Approach To Independencementioning

confidence: 99%

Understanding Independence: Board of Directors and CSR

2020

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On August Business Roundtable (2019), the Business Roundtable redefined the purpose and social responsibility of the corporation. Yet, this statement must be followed by substantial changes in the business models of corporations for it to avoid becoming empty rhetoric. We believe that the figure of the independent director may be one of the catalysts needed for this change of paradigm for corporations. In spite of the positive correlation between Corporate Social Responsibility (CSR) and board independence, the development of the independence of boards during the last decade has not lead to the expected CSR results. Academics and regulators point to a weak definition and the non-standardized measurement of both independence and board independence (BI) as one possible explanation, and agree that a broader definition is needed. This paper aims to contribute to this debate. We develop a second-generation definition of independence based on a positive approximation to the concept by integrating an Aristotelian perspective of virtue ethics with the best practices of corporate governance. Thus, we define independence as a virtue guided by practical wisdom, that implies autonomy and autarky and which enables a person to act with integrity, fairness and truthfulness. In the context of corporate governance, independence is associated with an honest disposition to serve. Our proposal has political implications for supervisors that make decisions relating to the suitability of board members.

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“…3-4). In this sense, practical wisdom means the alignment among right thinking and perception, right desire, and right action (Sison and Hühn 2018).…”

Section: The Complex Nature Of Practical Wisdom Aristotle's Virtues Amentioning

confidence: 99%

Measuring Practical Wisdom

Meyer¹,

Rego²

2020

International Handbooks in Business Ethics

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Interest in the virtues is now growing in business and management, both among scholars and practitioners. Interestingly, one virtue that should stand out but has been somewhat neglected is phronesis, or practical wisdom. Described by Aristotle as the "mother" of all other virtues, phronesis is key for management scholars for, at least, two reasons: (1) its importance as to individual and leadership development and effectiveness and (2) its complexity that makes it hardly conducive to be measured. Thus, this chapter's aim is twofold. First, it depicts phronesis as an up and coming core element in management and leadership.

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Practical wisdom in corporate governance

Cited by 14 publications

References 1 publication

In search of a fitting moral psychology for practical wisdom: Exploring a missing link in virtuous management

In search of a fitting moral psychology for practical wisdom: Exploring a missing link in virtuous management

Understanding Independence: Board of Directors and CSR

Measuring Practical Wisdom

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