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Question: Practical Wisdom and Business Ethics: Presidential Address to the Society for Business Ethics Atlanta, August 2006 by Dennis J. Moberg

Answer: Practical wisdom has received scant attention in business ethics. Defined as a disposition toward cleverness in crafting morally excellent responses to, or in anticipation of, challenging particularities, practical wisdom has four psychological components: knowledge, emotion, thinking, and motivation. People's experience, reflection, and inspiration are theorized to determine their capacity for practical wisdom-related performance. Enhanced by their abilities to engage in moral imagination, systems thinking, and ethical reframing, this capacity is realized in the form of wisdom-related performance. This can be manifested either in wise business decisions or through their performance as mentors, advice givers, or dispute handlers.

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(Source: Pustaka Negeri Sarawak, 30 Mar 2020)

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