What is Practical Wisdom (Phronesis)

This chapter addresses the critical need for education for wisdom in business and management education. After a critical review of the outcomes of the traditional pedagogical tenet, an operational framework for practical wisdom education is proposed, suggesting three components of wisdom learning: wise knowing, wise feeling, and wise judging. The second part of the chapter discusses the challenges of implementing wisdom education in the business school context. First, the authors highlight the requisite paradigm shift from knowledge-driven learning toward wisdom-driven one and then present some initiatives for fostering practical wisdom in the business classroom. The chapter concludes by gesturing toward possible avenues for future research and empirical inquiry into wisdom teaching practices.