In the business ethics literature, many argue that managerial decision making ought to be improved by more robust ethical concerns. Some see the virtue of “practical wisdom” as the key for improved managerial decision making. However, because of the epistemic limitations confronting decision makers in the face of irreducible market complexity, there is a risk that practical wisdom, employed in the context of day‐to‐day managerial decision making, becomes an impractical concept. Nevertheless, if the attempt to incorporate virtue ethics (and its related concepts) into business practices is laudable, if indeed a virtuous life is worth pursuing and practical wisdom plays an essential role toward that end, it is important to attempt to salvage practical wisdom and uncover its appropriate usage. Thus, this article pursues two major ends. First, upon surveying some of the prominent and standard usages of the term, it articulates concerns, rooted in epistemic limitations, about the way that practical wisdom appears in business ethics literature. Second, it offers a new way forward for understanding “practical wisdom.” By contextualizing day‐to‐day, rule‐based managerial decision making within the ethical value of the market order, practical wisdom reappears as the higher‐order capacity to pursue vocations, as morally worthwhile projects, in business.

中文翻译：

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酒吧太高了吗？论实践智慧在商业道德中的运用

在商业道德文献中，许多人认为，应该通过更扎实的道德关注来改善管理决策。有些人将“实践智慧”的美德视为改进管理决策的关键。但是，由于面对不可简化的市场复杂性，决策者面临认知上的局限性，因此存在风险，即在日常管理决策过程中采用的实践智慧将变得不切实际。但是，如果将美德伦理（及其相关概念）纳入商业实践的尝试值得称赞，那么的确值得追求美德生活，而实践智慧在这方面起着至关重要的作用，那么重要的是设法挽救实践智慧和实践。了解其适当的用法。因此，本文追求两个主要目的。第一，在考察了该术语的一些显着和标准用法之后，它阐明了源自认知上的局限性的关注，即对实践智慧在商业道德文献中的出现方式的关注。其次，它为理解“实践智慧”提供了新的途径。通过在市场秩序的道德价值内将日常的，基于规则的管理决策进行情境化，实践智慧就可以作为从事职业的高阶能力（作为具有道德价值的项目）重新出现在企业中。