Can Practical Wisdom be Taught in Business Schools? An Inquiry-Based Learning Approach for Management Education

Abstract

Abstract Dealing with the issue of “Can practical wisdom be taught in business schools?,” in this chapter, I argue for an inquiry-based learning approach as a way of improving today’s management education. Following along these lines, I initially focus on the current criticism of today’s management education in business schools. Then, I provide an introduction into the recent interest in the topic of practical wisdom by management scholars that emerged as part of an effort to overcome these failures of business schools. These attempts, however, remain on a rather vague or theoretical level and are lacking helpful guidance on how universities might implement this concept into their educational offerings. In order to remedy these shortcomings, I introduce a competency-based three-pillar model of practical wisdom and combine it with an inquiry-based learning approach. A comprehensive scheme highlights how the particular competencies of practical wisdom can be fostered over the successive stages of the inquiry process. Most importantly, by describing a MA-thesis program as a successful example of these ideas in application, I provide concrete suggestions of how to facilitate the growth of practically wise competencies by means of an inquiry-based learning approach.

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