Introduction to Practical Wisdom and Sustainability

Abstract

Practical wisdom comes in many different forms. It can be gathered from ancient teachings, cultural heritage, community development, childhood experiences, a journey across the world or even a walk in the forest. In business, to support practical wisdom, is to allow employees the confidence to make decisions based on internal strengths such as moral reasoning, vision and intuition. Sustainability is about developing a long-term perspective and approach to all business matters. The concept is best developed by those who genuinely care about progressing towards a more stable future for the benefit of all. Couple unpredictable external factors, abstract approaches and differences of opinion related to sustainable development with the inherent goal of maintaining a successful business, and making appropriate decisions can become downright confusing. Therefore, it is more important than ever that organizational leaders realise that, while the concept of sustainable development in business has gained recent attention in public discourse, it is nothing new. There exists a wealth of knowledge from around the world hidden in religious teachings, aboriginal customs, community and individual values that can shed light on how to deal with today’s challenges in the most appropriate and sustainable way possible.