In management literature, practical wisdom is increasingly perceived as a necessary resource for excellence in judgment. However, so far, little effort has been devoted to provide substantive guidance on how to apply practical wisdom into day-today managerial decision-making processes. In order to close this gap, we develop an itembased guideline for self-guided decision-making, which explores the specific aspects a practically wise decision-making process inherently entails. To do so, we introduce the concept of practical wisdom, highlight its recent adaptions in management, and draw a link to self-guided decision-making. Then, we explain our methodological framework and procedure. Based on these initial considerations, we develop the particular items by transdisciplinary unfolding and synthesizing the main dimensions and features of practical wisdom. Finally, we discuss suggestions of application, theoretical implications, limitations, and propose avenues for further research.

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Multiple strains of research are currently claiming to bring back normative perspectives into business analysis. In line with a series of publications from different disciplines we refer to the traditional concept of Practical Wisdom for that purpose but link it substantially with narrations from religious and spiritual traditions. Aware of potential resistance against such a project we discuss some basic objections, which might be provoked inside of the business education community. Critics question religious and spiritual traditions as such but also their relevance for modern business practice. Referring to to Paul Ricoeur's concept of metaphorical language we critically sketch a practical wisdom-based approach that employs religious and spiritual traditions as point of reference for responsible management practices but avoids the trap of fundamentalism or normative reductionism. Finally, we will conclude by suggesting the scope of possible applications and the direction of further research.

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