This article presents the new concept of phronesis 2.0. The latter is defined by the academic social responsibility of business schools and what they have to deliver in terms of learning outcomes and when readying the next generation of graduates. Simultaneously, phronesis 2.0 deviates starkly as today's business environments differ significantly from what the ancient Greeks faced. The time span available cannot cover a lifetime, more is not always better as knowledge gets outdated, the source of inspirations and locus of control over the process of phronesizing diverges as well. Finally, the integration of modern ethical considerations and humanism in business is a prerequisite in today's world of ongoing moral crises, signs of unsustainability, and more diverse cultural norms colliding. This article presents conceptual progress made over time and discusses implications for business schools. [For the complete proceedings, see ED672804.]