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Full Description
The challenges faced by 21st-century businesses, organizations and governments are characterized as being fundamentally different in nature, scope and levels of impact from those of the past. As problems become increasingly complex and wicked, conventional reductive approaches and data-based solutions are limited. The authors argue that practical wisdom is required.
This book provides an integral and practical model for incorporating wisdom into management decision making. Based on a cross-disciplinary conceptualization of practical wisdom, the authors distinguish systematically between data, information, knowledge, and wisdom-based decision making. While they suggest that data, analytics, information and knowledge can assist decision-makers to better deal with complex and wicked problems, they argue that data-based systems cannot replace optimized human decision-making capabilities. These capabilities, the authors explain, include a range of qualities and characteristics inherent in philosophical, psychological and organizational conceptions of practical wisdom.
Accordingly, in this book, the authors introduce a model that identifies the specific qualities and processes involved in making wise decisions, especially in management. The model is based on the empirical fi ndings of the authors' studies in the areas of wisdom and management.
This book is a practical resource for professionals, practitioners, and consultants in both the private and public sectors. The theoretical discussions, critical arguments, and practical guidelines provided in the book will be extremely valuable to students at the undergraduate and postgraduate levels, as well as upper-level postdoctoral researchers looking at business management strategies.
Contents
Series Editor Introduction by Wendelin Küpers Foreword by David Rooney Introduction 1: Wisdom from Ancient Philosophy to Modern Psychology 2: Understanding Practical Wisdom in Business and Management: An Inter-disciplinary Perspective 3: Organizational Problems: Why Decision Situations Can be More Wicked than We Think 4: Trapped in the Past, Dealing with the Future: The Role of Knowledge in Dealing with Decision Situations 5: Big Data and Analytics: Is It a Game Changer for Decision Making? 6: Decision Making, the Core of What Managers Do 7: Wisdom Aspects in the Management Context 8: Wise Management Decision Making 9: The Path to Management Wisdom
