The Practical Wisdom behind the GRI

Laura Sasse-Werhahn ()
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Laura Sasse-Werhahn: Catholic University of Eichstätt-Ingolstadt

Humanistic Management Journal, 2019, vol. 4, issue 1, No 5, 84 pages

Abstract: Abstract In an effort to meet growing stakeholder demands for transparency, accountability, and responsibility, many large organizations globally have voluntarily adopted the Global Reporting Initiative (GRI) guidelines. Moreover, triggered by recent management transgressions, the ancient virtue of practical wisdom (phronesis) has gained increased attention from management scholars, who argue that the Aristotelian concept, with its interdisciplinary nature, has the capacity of turning management back into a holistic, contextual, and virtue-orientated practice. Especially the fact that practical wisdom is firmly based on normative values, coupled with the emphasis on experience and practice, makes it well suited as a leitmotif for sustainable and responsible management. This conceptual paper builds on the link between practical wisdom and sustainability. I argue that the GRI may be regarded as an example of procedural practical wisdom in the context of sustainability reporting, specifically in terms of its emphasis on the holistic and situational dimensions, articulated through the concepts of materiality analysis and stakeholder dialogue. Practical implications, limitations, and avenues for further research are discussed.

Keywords: Sustainability reporting; Corporate responsibility; Practical wisdom; GRI (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s41463-019-00054-w

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