This paper aims to stress the importance of practical wisdom (phronesis) for the knowledge management field. It is a relevant intellectual and ethical resource for responding to recent changes in the business environment and for responsibly and sustainably aligning organizations for the future. Organizations must find ways to reconcile social, environmental and economic goals and meet different and conflicting stakeholder needs. To this end, the authors challenge knowledge management researchers to feature practical wisdom as an enabler for responsible knowledge management built on solid ethical foundations.
The authors introduce the concept of phronesis, reaching from Aristotle’s The Nicomachean Ethics to Nonaka and Takeuchi’s The Wise Company. Based on a systematic review of the literature, the authors performed a bibliometric analysis. Moreover, the authors discuss the findings and offer avenues for future research.
The results provide an overview of the research on phronesis in the knowledge management field. It points out the leading articles and journals (e.g. Journal of Business Ethics and Journal of Knowledge Management). Likewise, it identifies thematic areas, i.e. knowledge management field, knowledge dynamics, organizational wisdom, leadership and followership, corporate social responsibility and red flags.
In this essay, the authors advise practical wisdom as a promising candidate for advancing the field of knowledge management towards responsible knowledge management. To pursue this, the authors propose to address instability and continuous change through practical wisdom and outline a research agenda to guide further research.
