Purpose – This paper aims to review the concept of mindfulness and to show how it can be extended from psychology into management. Also, it seeks to introduce a new model of the psyche which incorporates two types of mindfulness (“meta-mindfulness” and “supra-mindfulness”) which can be used by managers to increase their capacity to handle emotional reactivity and to reduce stress. Design/methodology/approach – It is proposed that the “meta-self” or Managing Ego plays a key role in emotions management and stress reduction by using meta-mindfulness to actively monitor one's sub-selves which react with the external world. The current approach also postulates that an individual's “supra-self” or inner-observer is crucial in reducing stress by passively exercising neutral observation of all psychic activity via the above-mind state of supra-mindfulness. Research limitations/implications – The paper indicates how the proposed models of the psyche and of the dynamics of mindfulness in emotions and stress management can be tested empirically in future management research. Practical implications – Mindfulness techniques are recommended for use by managers in practice to avoid emotional reactivity and to manage stress. Originality/value – The present approach builds on existing theory to provide new constructs and models that help to explain the dynamics of mindfulness in managing emotions and in reducing stress.