Decision-making ostensibly requires the exercise of Power. But that use of Power must be counterbalanced with Responsibility in order to make good decisions. Infusing Wisdom into the decision-making process necessarily incorporates an ethical component and involves both the identification and evaluation of relationships. Wise decision-making, therefore, requires the application of Wisdom which transcends simple, short-lived factual proficiency. It is this careful weighing of Wisdom, Power, Knowledge, and Responsibility which must guide our business leaders and be taught to our business students.
"Power, Responsibility & Wisdom: Exploring the Issues at the Core of Ethical Decision-Making and Leadership,"
The Journal of Values-Based Leadership: Vol. 2
, Article 6.
Available at: http://scholar.valpo.edu/jvbl/vol2/iss2/6