Critical Thinking in Business World

Critical thinking in Business World
Critical thinking is not a matter of accumulating information. A critical thinker is able to

deduce consequences from what he knows, and he knows how to make use of information
to solve problems, and to seek relevant sources of information to inform himself. Critical
thinking can help us acquire knowledge, improve our theories, and strengthen arguments.
We can use critical thinking to enhance work processes and improve social institutions.
Critical thinking is quite compatible with thinking "out-of-the-box", challenging consensus
and pursuing less popular approaches. If anything, critical thinking is an essential part of
creativity because we need critical thinking to evaluate and improve our creative ideas.
Critical thinkers are inquisitive and look to find the what and the why behind every
proposition.
Critical thinking is the ability to think clearly and rationally about what to do or what to believe. It includes
the ability to engage in reflective and independent thinking. Someone with critical thinking skills is able to
do the following:
1. understand the logical connections between ideas

2. identify, construct and evaluate arguments
3. detect inconsistencies and common mistakes in reasoning
4. solve problems systematically
5. identify the relevance and importance of ideas
6. reflect on the justification of one's own beliefs and values
We live in a knowledge based society, and the more critically we think the better our knowledge will be.
Critical Thinking will provide you with the skills necessary to analyse and evaluate the information so that
you are able to obtain the greatest volume of knowledge from it. It provides the best chance of making the
correct decision, and minimises damages if a mistake does occur.
Critical Thinking will lead to being a more rational and disciplined thinker. It will reduce your prejudice and
bias which will provide you with a better understanding of your environment.
Whenever any of us approach a problem, we bring biases to the table, often unintentionally.
Prior experiences, cultural influences, assumptions about knowledge on the subject, or
public opinion all play into our thought process, whether we're aware of it or not. The
challenge in critical thinking lies in first becoming aware of those biases, and then in
stepping outside of them to clearly reason your way through a problem. Successful critical
thinkers make better business decisions because the process allows them to gather more
information, collaborate with others and evaluate a business decision with objectivity.
Critical thinking has always been a prized attribute of leadership, With globalization and the increased
speed of business, employees at every level are facing an increasingly complex flow of information.
Work settings are changing rapidly, and employees are moving into new roles, often with limited
direction. Employees can no longer rely on others to make key decisions. They often must make them
on their own, and quickly. And the decisions have to be good ones. If they fall short, there may be no
time to recover.
Good decisions require focusing on the most relevant information, asking the right questions, and
separating reliable facts from false assumptions – all elements of critical thinking. And yet too few
employees possess these essential skills. critical thinking as the raw material of a number of key
workplace skills, such as problem solving, decision making, organizational planning, and risk
management.
HRM“
As Human Resources professionals it is their job, both internally and externally, to make the case to
executives that employees add value to the organization.
More and more, employees are hired, and paid, for the thinking they do rather than the labors they
perform.” The success of an organization is determined largely by the quality of the decisions made
within it.
know what to absorb, what to ignore  information must be gained actively and deliberately  there
are a lot more rocks than gems (all data are not information)  not all information is useful or relevant
With people being at the core of an organization’s greatness, it is extremely important for HR
professionals to pay attention to two things – that existing people are trained to think critically and The
primary function of the typical HR professional’s job involves facilitating discussion between employees
and employers. If a human resources manager can’t communicate clearly they will not be successful.
Both oral and written skill are required to effectively relay information.
One aspect of communication that gives people an edge is a strong ability for conflict resolution. Even in
the most agreeable workplaces, problems arise that need a diplomatic ear, an eye for assessment, and a
hand for getting the problem settled. This particular skill is invaluable when negotiating solutions and
keeping things on track.people are hired based on their ability to think critically. HR employees
make lots of decisions for a company, ranging from who to hire to how to resolve
a dispute between employees. Therefore, it is important that they are critical
thinkers that can weigh the pros and cons of an event and then make a decision.
Just like any other skill, critical thinking is only a matter of training and
exercise. That’s why you need to prepare and follow a plan to boost this skill
among your employees.”
1. Allow Them to Express Opinions
2. 2. Brainstorming
3. 3. Data-driven Analysis
4. 5. Invest in Employee Training
5. 4. Role-playing
CT AND SALES
Qualify the leads
The first step in effective sales is to identify the prospective clients that you want to pursue. Identify
your assumptions about the leads that you call (and those you don’t call). Have you ever decided to not
call a prospect because you heard that they were struggling financially or that they didn’t like your
products? These assumptions can hold you back in sales! Call the lead and test your assumptions. You
may be pleasantly surprised to learn that you were wrong and walk away with a big win.
Discover the needs:
Don’t assume that you know what the customer needs. Instead, ask them open-ended questions and
you will learn about what the customer needs and often can uncover more information about other
opportunities that you can sell to.
Be careful not to evaluate their needs to quickly. Sometimes in an effort to close a deal too quickly, we
may miss out on the larger opportunities available. Listen to all of the customers needs and then start
the process of evaluating how your products can meet their needs.
A successful sales representative is someone who leverages critical thinking in every aspect of the sales
cycle in order to win business.
Negotiate & close:
Remember that your customer enters into a negotiation with their own assumptions, arguments and
conclusions. Make it your goal to understand what those are by asking questions throughout the
process. Customers like to buy from people they trust. The key to building a trusting relationship is to
truly understand the needs of your customer and the RED model can help you to do this.

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Critical thinking in Business World

Critical thinking is not a matter of accumulating information. A critical thinker is able to

1. understand the logical connections between ideas

Qualify the leads

Discover the needs:

Negotiate & close:

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