• Studying philosophy helps business leaders understand how they engage with new ideas
• Teaching philosophy can be integrated into business programmes by including topics such as business ethics
• Reading the works of philosophers throughout history can provide insights for leaders and managers today

You have no choice in the matter – you need a philosophy. That is, according to American writer and philosopher Ayn Rand.

In her own words, “Your only choice is about whether you define your philosophy by a conscious, rational, disciplined process of thought and scrupulously logical deliberation – or let your subconscious accumulate a junk heap of unwarranted conclusions.”

Studying philosophy, then, is the science and art of understanding how you engage with ideas.

It stands to reason, then, that many of the institutions for shaping the minds and enhancing the capabilities of aspiring leaders, managers, and entrepreneurs have weaved the teaching of philosophy into their curriculums. Being able to digest complex arguments and create a vision of progress in line with personal and organisational values is as integral to success as a business leader as sound training in finance and business strategy.

Many leaders across sectors have a background in philosophy. Famous philosophy majors include George Soros (hedge fund manager), Carly Fiorina (former CEO of Hewlett-Packard), Reid Hoffman (LinkedIn co-founder), and Harrison Ford (actor).

Though their careers have charted paths through different industries, these individuals share a common trait. Each could be described as a leader in their own way, from being the first woman to run a Fortune Top-20 company to being a Hollywood leading man at the centre of several movie franchises worth billions.

Whether it’s launching a new business venture, developing a conceptual framework to generate money, or constructing a movie character, these individuals’ successes demonstrate the vast business potential of refining the way you think.

Introducing philosophy in business programmes

For this reason alone teaching philosophy been integrated into the International Masters Program for Managers (IMPM) since its inception more than 25 years ago. The programme centres its modules around five different mindsets, each designed to prompt introspection and  philosophic debate as well as develop management capabilities. Each mindset is explored at one of the IMPM’s five global partner institutions, giving participants not only fresh perspective and reasoning, but a new stimulating environment in which to do it.

“Philosophy encourages rigorous reasoning and critical thinking, which are skills all leaders need. It teaches leaders to analyse assumptions, evaluate arguments, and think through complex problems systematically, which is crucial for strategic decision-making in business,” says Ron Duerksen, Global Executive Director for the IMPM.

“Philosophy encourages rigorous reasoning and critical thinking, which are skills all leaders need.”

– Ron Duerksen, Global Executive Director for the International Masters Program for Managers (IMPM).

During the ‘Reflective Mindset’ module, Duerksen says the class visits the cottage home of British philosopher John Ruskin in Cumbria.

“Ruskin’s philosophy underlines the importance of observation, reflection, and the consideration of the broader impact of one’s actions on society. This aligns closely with the Reflective mindset of the IMPM programme,” he explains.

In his view, one way to incorporate philosophy into business education is by introducing ethics as a core component of programmes.

Exploring topics like the ethical implications of business decisions on society and the environment allows professors to build links to philosophical theories related to leadership. This could include concepts such as virtue ethics, servant leadership, and existentialism, helping leaders and entrepreneurs understand the deeper implications of their leadership styles.

“When we are in Japan for the Collaborative mindset, we learn from various Japanese philosophers. For instance, the concept of ‘Kaizen’, a Japanese term meaning ‘change for better’ or ‘continuous improvement’, is a philosophy that focuses on continuous improvement of processes in manufacturing, engineering, business management, and other fields,” Duerksen says.

The goal is for the programme’s participants to learn from this experience, taking such concepts back with them into professional life, wherever that may be. IMPM’s alumni are perhaps among some of the most professionally diverse you’ll find in the global business education community, spanning the global corporate sector as well as heading up charities, leading humanitarian collectives such as Medicines Sans Frontieres, working in government and launching their own enterprises.

Decision-making in innovative situations

To keep improving, the key is to challenge the status quo and to avoid making managerial decisions based on the practices and actions of those who came before. ESSEC Business School offers a range of courses with a strong philosophy element, designed to impart a long-term perspective and the ability to ask the right questions to future business leaders.

These courses focus on topics such as the history of political philosophy, making decisions in complex and innovative situations, and more. Theory is grounded by getting students to work on concrete case studies. Not only is this teaching available to undergrads, it’s also delivered at the executive education level.

“We need to teach students the tools for providing business solutions, and the art of asking key questions and identifying real problems.”

– Laurent Bibard, Professor of Philosophy and Management at ESSEC Business School.

 “The business world tends to have a short-term focus, oriented towards ensuring subsistence or profit. This short-term mindset drives a necessity to provide answers that are immediate and address all our needs at once. However, a world that is only about providing answers and solutions, without digging deeper into the real problems and the right questions to ask, would be a world where we are unable to prioritise what is most important,” says Laurent Bibard, Professor of Philosophy and Management at ESSEC.

In his view, philosophy is the art of asking the right questions, a skill that complements management and leadership roles, which are about providing answers.

“We need to teach students the tools for providing business solutions, and the art of asking key questions and identifying real problems,” he says.

Ancient wisdom that applies today

Only in identifying the real problems a company or industry faces, can effective efforts be made to provide a solution. And in attempting to find a solution, a good leader can recognise when they might need to expand their own understandings and capabilities – or defer to the superior skillsets of others.

In his book, Philosophy Inc.: Applying Wisdom to Everyday Management, Santiago Iñiguez, President of IE University, draws on voices from Ancient Greece to Hapsburg Spain.

“You have to be open to many different sources of learning. Unless you keep an open mind, you are not going to achieve success in your profession. True managers are humble and keep learning throughout their careers,” he told Forbes.

To highlight the importance of humility, he draws on the wisdom of Socrates, to whom Plato attributes the saying, “I only know that I know nothing.”

Duerksen also draws on the prudence of Antiquity. He believes the words of Roman Emperor Marcus Aurelius carry an important message for business leaders today.

“The impediment to action advances action. What stands in the way becomes the way,” the Stoic wrote in his Meditations.

“In a business context, this can be interpreted as encouraging resilience and adaptability. When faced with challenges, instead of being deterred, leaders and businesses should use these challenges as stepping stones to innovate and progress,” Duerksen says. To do so requires both the solid practical acumen that a business education provides and the attitude to explore and embrace new ideas that philosophy brings. To merge the two is to create the most impactful of leaders.

Leaping forward in time, Bibard suggests two sources of inspiration. History of Political Philosophy, co-authored by Leo Strauss and Joseph Cropsey, “has a profound understanding of the long-term and is very useful to understand and act in our complex times,” Bibard says.

He also points to the work of French poet and member of the French Resistance René Char, who wrote, “Take your chance, hold your happiness close, and go toward your risks.”

As Char’s words illustrate, far from being an opportunity to drown in futile theory, training in philosophy pushes leaders to act in ways that are considered and consistent with their values.

You would not seek to become an accountant without a good understanding of how economics works. Nor would you seek to become a politician without knowing the ins and outs of political institutions. By the same logic, you would not seek out roles that require constant, and often swift, decision-making without first understanding how you think.

Philosophy was a cornerstone in the education of Ancient Roman emperors. It will serve today’s entrepreneurs and CEOs just as well.  

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