Abstract
The contributions in this volume in multiple ways represent an innovative approach towards a more integrated concept of business education. ‘Practical Wisdom’—basically reflected by the Greek philosopher Aristotle (2004)—served as the crucial point of reference of Western medieval and early modern moral educational philosophy. For centuries not only in the West but in cultural traditions all over the World, the personal character of leaders has been formed in the context of spiritual and religious traditions (Bay et al. 2010; Dyck 2012; Tracey 2012; Tracey et al. 2014; Weaver and Agle 2002; Zinbarg 2001). Thus, spiritual traditions served as cultural capital for handing over basic normative orientations throughout history. The goal of chasing Practical Wisdom connected knowledge acquisition with personal fulfillment (Naughton et al. 2010; Lenssen et al. 2012). Only with the advent of Enlightenment philosophy had Practical Wisdom lost its role as an integrating educational concept and was gradually replaced by Human reason (Bachmann et al. 2014). During this process, Practical Wisdom saw itself reduced to a term describing merely technical skills. Ultimately towards the modern age, spiritual contents are gradually suppressed from Leadership education (King 2008; Roca 2008).
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Reports of misconduct regularly fill the media already for years. One recent example: According to the Wall Street Journal (24.–26.4. 2015, p. 22) Deutsche Bank, the largest privately owned financial institute in Germany, payed no less than $2.5 billion for having systematically manipulated the LIBOR interbank interest rate. According to regulators, Deutsche Bank didn’t set up a policy to prevent similar misconduct until mid 2013, long after authorities had started filing criminal charges against banks and individuals. Unlike other banks, Deutsche Bank was also criticized for failing to cooperate fully with the Authorities. More investigations are on the way following allegations that Deutsche Bank was involved in efforts to manipulate foreign-exchange markets as well.
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Habisch, A. (2016). Closing Remarks: Practical Wisdom as a Global Research Project in the Twenty-First Century. In: Habisch, A., Schmidpeter, R. (eds) Cultural Roots of Sustainable Management. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-28287-9_15
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