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The wise leader.

Ikujiro Nonaka1, Hirotaka Takeuchi

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Wise leadership, or practical wisdom (phronesis), is crucial for navigating modern business challenges. Leaders must develop six key abilities to make ethical decisions and foster organizational success in a complex world.

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Area of Science:

  • Business Management
  • Organizational Behavior
  • Ethics

Background:

  • Modern business environments face increasing discontinuity due to rapid technological advancements, demographic shifts, and evolving consumption patterns.
  • Leaders struggle to adapt corporations, build global organizations, and ensure ethical conduct among employees.
  • The concept of practical wisdom (phronesis) is presented as essential for effective leadership.

Purpose of the Study:

  • To define and elucidate the concept of practical wisdom (phronesis) in leadership.
  • To identify and describe the key abilities of wise leaders.
  • To provide a framework for cultivating practical wisdom in organizational settings.

Main Methods:

  • The study draws upon philosophical concepts, particularly Aristotle's notion of phronesis.
  • It synthesizes insights from organizational behavior and leadership studies.
  • The authors identify six core abilities demonstrated by wise leaders.

Main Results:

  • Wise leaders make decisions prioritizing organizational and societal good.
  • They possess a deep understanding of situations, people, and events.
  • They foster environments for collaborative meaning-making and knowledge transfer through storytelling and mentoring.
  • Effective political influence and ethical judgment are key components.

Conclusions:

  • Acquiring practical wisdom (phronesis) is imperative for contemporary leaders.
  • Wise leadership involves ethical decision-making, contextual understanding, and fostering a conducive organizational culture.
  • Developing practical wisdom through mentorship and experience is vital for organizational resilience and success.