Abstract
This book identifies, illustrates and reflects over the role of practical wisdom in organizations for organizations' preparedness. As the need for preparedness stretches the limits of what is thinkable and possible for organizations, the importance of value judgements, i,e, ethics, becomes increasingly clear, which challenges conventional strategy practice. The ancient concept of practical wisdom provides a framework that can guide managers as they balance ethical demands with demands for practical effectiveness. Practical wisdom can be developed through 'playful' activities such as storytelling, reflective dialogue and aesthetic experience. By cultivating practical wisdom, the authors argue, people in organizations can develop the 'everyday strategic preparedness' needed to deal with a complex and uncertain world.