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Business
Jibran khan 10k3 page 1 Introduction If I were to open a business of my choice it would have to be a printer shop. The location of my shop would be in Stratford Center, the reason for this is because it gets a lot of business because it is a well known area and a lot of people go there to shop. It is also much better than places like East Ham High Street, where there will be a lot of competition e.g. Dixsons, Argos, etc. Stratford is also more populated than east ham high street and other shopping areas. I would name my shop khan essentials. Khan is my second name and essentials is that, people need what I would be selling. The reason I have chosen to sell printers is because there are not many shops in Stratford Center that specialise in printers, there is mostly cloths, shoes/trainers and places to eat. I properly would sell the latest printers and also fix broken printers for people and charge them a reasonable price depending on what is wrong with the printer. As an owner I would have to attract customers by advertising my business, I would do this by putting ads in newspapers, radio, Internet, etc. I would not put it on television because it would cost me thousands of pounds and I would have to make that money back within few weeks of opening because I'll have a lot of money to pay of e.g. rent, person or bank I loaned the money from etc. To find out what customers specifically what I will have to do a research. A research is when someone gathers information to find out what people like best, so they could either sell the product or improve it then sell it to make even more money. There are two main...
pages: 9 (words: 2283)
comments: 0
added: 02/11/2012
Executive summary This article focuses on shareholder wealth creating in companies. This is a very broad focus and is therefore reduced to several key terms with the example of Afgri in an agricultural environment. The business community is more and more focussing on profits. This tendency is been highlighted by Afgri's profits and growing share prices in contrast with Senwes where shareholders are irritable about their company. The King Report on corporate governance has highlighted several aspects in this regard and is it also covered in this article. This view has opened the debate about shareholder wealth creation and ownership in agri-businesses. The purpose of this article is to set a benchmark for the use of agri-businesses to stay current in an ever changing and highly competitive environment. 0TK (Afgri) was established in 1923 as an agricultural co-op and converted into a public company in 1996. With a strong balance sheet and large cash reserves Afgri was a sure target for a takeover. A new business vision was employed after Brait and Allen Gray gained majority control in 2001/02. The company was shedding no performing noncore assets, like its cotton, meat and egg businesses and also sold its debtors book. The cash freed by the restructuring was pumped into a special dividend of R2 a share. Key terms to be investigated include the following o Capital structure: This article raises the point that the changing capital structure of Afgri has lead to increasing profitability from an equity viewpoint. Although terms like WACC (weighted average cost of capital) has become common language in Afgri the board still seems not working enough towards a targeted capital structure that would result in further shareholder wealth creation. The current debt (long term debt)/equity ratio is 1.85% o AC133: The accounting standard AC133 is discussed under performance measurement, although it's a...
pages: 28 (words: 7667)
comments: 0
added: 01/16/2012
McDonald's has dominated the fast food industry for nearly three decades. With global sales of over $40 billion, its closest competitor, Burger King, would need over $27 billion in sales to take over the number one position in the industry. (Dailey, 2000, p. 8) The company has achieved prosperity through the application of highly successful marketing procedures first in the United States, and then globally. These procedures include (1) educating their consumers, and (2) brand consistency. When McDonald's first opened, they served people quickly and efficiently. That's one of the things that appealed to Ray Kroc when he opened his own franchise. (McDonald's History, 2001.) People learned to expect fast service and consistent food at each McDonald's as they opened across the country. When McDonald's spread globally, they had to reeducate their consumers. Many customers were not familiar with the American menu of burgers, fries and shakes, or the concept of quick service. (Editors, 1999, p. 1) Their first television ads in the United Kingdom showed the food, the restaurants, and stressed that McDonald's was "new and different." (Editors, 1999, p. 3) McDonald's continued this marketing strategy as they opened other worldwide restaurants, and tailored their marketing to the local population. For example, in I996 in India, fast food was already a well-known concept. McDonald's tailored its menu to non-beef items like the Fish Sandwich, the McChicken Sandwich, and the Vege Burger with cheese. Consumers were already aware of the fast food concept, so McDonald's concentrated on building traffic. Their strategy was simple. "Get them in. Trade them up. Get them back." (Shatrujeet, August 2000) Educating the consumer in India began with educating the fathers, who usually make the decision where to eat when the family eats out. Marketing studies showed that fathers thought of McDonald's as a "drag on the wallet." To educate...
pages: 5 (words: 1306)
comments: 0
added: 12/04/2011
For the past decade, Europe has been the world's number one maker of smart cards, the pocket plastic with an embedded chip that stores reams of financial and other information. In the meantime, American markets are trying to switch over to chip based cards but the consumers and merchants are not as enthusiastic. In this analysis, I will compare two different articles that have separate views about smart cards coming to the United States. In August 2000, Business Week published an article about the future of smart cards coming to the U.S. The article contained nothing but positive aspects of the new technology and its perks for consumers. It seemed the article was written simply to boost the idea of the smart card to holders of the cards. The article did not mention the business owners views or card issuers views. The article was also very statistical in the prospects of the smart card in the years to come. For example, the article says that companies and government agencies will have an annual sales growth of 100% if the smart cards take off in the U.S. Since smart cards have a chip it can verify the users passwords and even fingerprints thus bringing a whole new network security feature. The Business Week article also looks at how smart cards will bring annual sales growth of 24% for Pay TV users. Couch potatoes can now enter their credit card numbers directly from their comfort of their homes and order anything on television that interests the person. The problem with this estimate is that Pay TV has not been introduced in the United States yet so this option will not be available for a few years to come. The most prominent feature that smart cards can help consumers right now is the on-line shopping features. "Consider what happens when you buy online with your credit card. A secure server will probably encrypt your account number,...
pages: 4 (words: 987)
comments: 0
added: 01/05/2012
The word credit comes from Latin, meaning "trust". Credit has been around for ages and is a part of my everyday live. I suppose the reason I buy on credit varies, but without it most of us would probably never be able to purchase necessities such as a home or automobile. "The nation's economy depends on credit, the promise to pay later for goods and services used today." Along with consumer credit comes consumer debt. With the rise in telemarketing and commercializing here in Canada it is no wonder why I as consumer feel the impulse to buy now, pay later. I was given a credit card when I was 18 years old and wanted it to establish myself in order to have a credit history. I believe I have used my credit card to buy things that I couldn't afford at the time but felt I would be able to afford at a later date not far down the road. Should my parents not have been able to pay for my college tuition and books I too would have had to take out a loan of some sort to pay for those fees. In the future once I receive my full license and feel more secure at my par time job I plan to take out a loan and buy a used car. This explains why I would use credit and what I would use credit for. Generally in the future I will use credit even more to purchase a house and maybe even a new car. Does credit really prevent you from enjoying life in the future because of heavy indebtedness? Great question and the answer I believe lies in the person. Not realizing the extent of the consumers' debt is one of the most common types of credit problems. Denial...
pages: 3 (words: 613)
comments: 0
added: 01/07/2012
We focus on your business Clic.net knows more about the Internet than merely the Interface design and pretty graphics. In fact, even if we have experienced and talented graphic designers within our team, our real interest is ensuring that you truly benefit from the use of Internet technology We share knowledge Clic.net has been servicing hundreds of Canadian businesses and managing the back-end systems of more than 1000 Canadian E-commerce ventures. We have a vast amount of knowledge about what sells on the Internet and how to effectively promote products and services on the Web. We can take you to the next level Internet (IP) technology is much more than just Web sites and search engines. In fact, it may be the best way to increase profitability by helping optimize business processes and relationships with your partners. That's why Clic.net has its own R&D team, comprised of software architects and engineers that specialize in E-commerce and financial back-end systems. Expertise Professional E-commerce Web site design and hosting Custom B2B or B2C E-commerce Applications Development E-commerce web site security audit Custom System Development Platforms: Windows NT and 2000, Unix and Linux Languages: ASP, CGI, Javascript, Visual Basic, VBScript, C++, Assembler SQL Database Design HostQuote brings hosting companies and hosting customers together through highly qualified sales leads. By using HostQuote customers are cutting out having to visit numerous sites, navigate through those sites, which may or may not have what they require and then mail the company for more information. Also the customer can easily compare hosting prices and in turn save money. HostQuote.com is powered by Web Host Directory HostQuote is bought to you buy Web Host Directory. Established in 1997, Web Host Directory is now widely regarded as the Worlds foremost authority on the Web Hosting Industry. The comprehensive resources include, Detailed Company Profiles, Product Comparisons, Industry Awards and a unique online Community. Web Host Directory is...
pages: 2 (words: 521)
comments: 0
added: 11/22/2011
DEFINITION OF A CRIMINAL OFFENCE: A criminal offence is an act on omission, which is held to be wrong because of injuries to the welfare and interests of society in some way, and for which the offender can be prosecuted and punished. Sources of Criminal Law Queensland Criminal Law since the turn of the century has a statutory basis. The Queesnland Criminal Code Act 1899 came into effect in 1901. Code Act was rewritten in 1955 to bring it up to date and to make it reflective of community concerns. Also it was written in plain English, so that it could be easily understood. Nature of Criminal Law „Ï Onus of Proof - it is up to the prosecutor to prove the accused is guilty. Beyond reasonable doubt. Up to the prosecution to prove guilt and the defence to prove the client's innocence. „Ï An acquitted means that there was 'reasonable doubt' „Ï A person is not guilty of a crime unless they have a 'guilty mind' ¡V mensrea Children under the age of ten are presumed to be incapable of formulating guilty intentions and thus cannot be criminally responsible. A person of 15 years and over must accept full responsibility for all criminal acts. Anyone who is without control of his or her minds can not have a guilty one. „Ï If a person intends to commit one crime and actually commits another, the guilty mind element is still established. „Ï Ignorance is no excuse. You can be found guilty of a crime even if you did not know that it was against the law. Unlawful Killing Section 293 of the Criminal Code defines unlawful killing as when a person causes the death of another directly or indirectly. „Ï Directly ¡V when the person dies directly as a result of the person's actions. „Ï Indirectly ¡V when the person dies of a result of...
pages: 10 (words: 2643)
comments: 0
added: 02/16/2012
The word thinking can describe any number of mental activities. Much of our natural thinking, when left to itself, is biased, distorted, partial, uninformed, and prejudiced. Yet the quality of our lives depends precisely on the quality of our thought. Critical thinking is that mode of thinking ¡V about any given subject that improves the quality of his or her thinking by skillfully taking charge of its very structures and by imposing intellectual standards upon them. However, thinking involves consideration of the full range of possibilities to a problem, including emotional, cognitive, intellectual and psychological factors. Thus, critical thinking belongs to the category of higher-level thinking skills. Critical thinking is analytical and logical. It evaluates ideas and identifies reasonable ones. Critical thinking is clear, precise, accurate, relevant, consistent, and fair. In short, critical thinking is self-directed, self-disciplined, self-monitored, and self-corrective thinking that entails effective communication and abilities. While thinking in general is a natural activity of human beings, excellence in thinking must be cultivated and practiced. When looking at emotion versus logic, for virtually all of us, there are topics about which we ¡§just cannot be rational¡¨. Think, for example, of religion and politics. In these instances a commitment to a certain belief against another belief may keep us from weighing objectively the evidence for each side of the issue. We call for help or reason poorly because our emotions make it hard for us to reason rationally about them. Some people are unable to accept any significant criticism of a proposed economic system, regardless of the merit of the criticism. In this case, their emotions stand in the way of a fair and rational evaluation of the proposal. Clearly, not all emotions should be avoided as blocks to clear thinking and insight. There is nothing wrong with out enthusiasm for our political and...
pages: 3 (words: 778)
comments: 0
added: 12/08/2011
Darren W. Dahl, Rajesh V. Manchanda, Jennifer J. Argo, Dec 2001, ¡®Embarrassment in consumer purchase: the roles of social presence and purchase familiarity¡¯, Journal of Consumer Research, v28 i3 p473(9), viewed 25 August 2003, available from the Griffith University. According to Darren W. Dahl, Rajesh V. Manchanda, Jennifer J. Argo (2001), embarrassment is a familiar and widely occurring emotion that affects many facets of our social behavior. Although it¡¯s often occur in purchasing and has been used as an item in scale batteries measuring emotion in marketing context, there has been little or no research that explore why embarrassment happens in consumer behavior. So in this research, authors tried to reveal the ¡®potential for embarrassment in consumer¡¯ (Darren W. Dahl, Rajesh V. Manchanda, Jennifer J. Argo 2001). To begin with, the article defined embarrassment during purchase as ¡®an aversive and awkward emotional state following events that increase the threat of unwanted evaluation from a real or imagined social audience¡¯ (Darren W. Dahl, Rajesh V. Manchanda, Jennifer J. Argo 2001). And two elements, which could drive embarrassment, were identified. First, the concern for others¡¯ attitude (which refers the Social Presence) drives embarrassment. Second, a lack of experience with a situation leads to awkwardness and potentially creates feelings of embarrassment (Miller 1996). After that the article examined how social presence and purchase familiarity affect purchase embarrassment. And buy discussing in some psychology literature the authors expressed 2 hypotheses. H1: A consumer will experience a higher of embarrassment during an embarrassing product purchase when a real or imagined social presence exists (The Role of Social Presence). H2: A consumer who is familiar with the purchase of an embarrassing product will experience a lower level of embarrassment than a consumer who is not familiar with making such a purchase (The Importance of Familiarity). However, because familiarity leads to the development...
pages: 7 (words: 1795)
comments: 0
added: 02/06/2012
In the article entitled Human resources practices: survey results, a report done by Human Resources Development Canada and Statistics Canada is examined. The material within the article is relevant to organizational behaviour. There are many strengths and few weakness regarding the ideas presented that can be found. In my opinion, this article is very effective, even though there are some components included that are not as convincing as others. According to the results of this report, the best way to help employees adapt to environmental, organizational, and technological change is by introducing training, variable pay, and employee involvement. It claims that in order to facilitate environmental changes, employers must upgrade the employees' skills. It also states that adaptation and taking advantage of organizational and technological changes are done by linking pay to performance. The report also explains that by giving employees a better sense of how to make a difference at work, productivity gains will be reinforced for the employer. I agree with some of the points that are made, however, I also disagree with others. Moreover, I have alternate suggestions to help employees adapt to changes. This article is divided into three sections. Each section relates to the content of this course. The first section explains why employees need training when a change is introduced in the workplace. According to Human resources practices: survey results, training must be provided in the upgrading of employees skills when an environmental change is initiated to help with the adjustment of the new environment. Similarly, in the textbook Canadian Organizational Behaviour, it states that training is important when change is instigated because the employees need to be taught the new knowledge and skills that are required for the job (484). This being an event which occurs in the workplace proves that this particular section...
pages: 7 (words: 1915)
comments: 0
added: 02/04/2012
As defined in the book Critical Thinking is the awareness of a set of interrelated critical questions, ability to ask the appropriate questions at the right time, and the desire to actively use the critical questions. Critical thinking is the intelligent weighing of all the possibilities of a given situation. It takes a lot of practice and self discipline to achieve a status where one can rationally look at a problem and come up with the logical solution. A person must also look at the emotional state of the person that is presenting you with the problem. Was the person rational, tempered, rushed in their statement to you, this will give you additional information in making your decision? By being a Critical Thinker you have the ability to come up with the best possible decision. You have weighed out all the alternatives and come up with the best solution. By not having Critical Thinking, you use the first most logical solution and go with it. Not necessarily the best Decision. The business world and especially our individual workplaces are the backgrounds in which many ethical decisions are made on a daily basis. Many decisions made in these environments are backed up by personal, company, or industry ethical ground rules of some form. These decisions also bring ethical implications into the business environment. Each decision can have a number of ground rules that can help govern such a decision and aid in making the decision an ethically defensible one. Each ethical decision made by an individual in an organization, or the organization as a whole, can have many ethical implications that must be considered....
pages: 1 (words: 273)
comments: 0
added: 12/07/2011
The author, Rick Hilliwell, is analyzing the way managers are being hired by companies today. He thinks the recruiter should utilize more effectively on how he/she makes decisions in the interviewing process. The following are some elements he uses to describe his point of thought. In his article, Helliwell (2000) gives his thought on how to be a successful leader. "Without exception, leadership skills and critical decision making ability are arguably the two core competencies which distinguish the truly successful business leaders" (para. 2). My perception of what he is giving is that the modern day manager has to be able to make decisions faster and lead his staff in the right direction to be successful. This information is, in my opinion, very realistic. I have worked with managers that have no idea on how to make proper decisions, and their people skills are insufficient. On the other hand, I have worked with managers that seem to know how to handle the different situations that are thrown at them. The assumption I received from his article is if a manager makes an incorrect decision, the company will automatically suffer an assortment of down falls. For example, Helliwell (2000) stated, "the wrong decisions can lead to loss of productivity, customers, and staff motivations. Resulting in profit loss, falling shareholders returns, negative cultural factors, and very likely a loss of key executives to competitors" (para. 1). He makes you believe that all bad decisions managers make will cause the company to go under. I have to disagree with Mr. Helliwell on this one. Managers are people, and they do make mistakes, but the majority of companies go on. I do believe in the importance of managers having the skills to make quick decisions. Plus, the way he/she uses the thinking process to make the...
pages: 2 (words: 473)
comments: 0
added: 01/26/2012
Case: Odwalla The name "Odwalla" does not only represent for the high quality and healthy product, but it also reminds us about the value of the business ethics. Odwalla, Inc. faced an unforgettable crisis in 1996 from causing the death of a baby and the illness of several people. If this problem happens to other companies, they usually deny for the guilt and do not take any responsibility. Unlike typical business, Odwalla took full responsibility and tried their best to solve the problem. Its good intention paid off. At the end, the situation got better because people realized how hard the company tried to fix everything. This is a very good lesson for every business and for us. Odwalla executives and employees used many critical thinking skills to help the company got through the crisis. In chronological order, these are some examples about what they did. When Odwalla executives got a phone call from Washington State health reported about the illness causing by their juice, they decided to recall all apple juice and carrot juice-based product. They used Inference to conclude the situation. That call only told them the patients had consumed the juice. No one knew about the real reason of the incident. They also used Analysis to make a decision to recall because when they looked at their values: honesty, integrity, and respect, they realized what is the most important thing for them. The second action the executives, Greg and Stephen, took was doing the interviews as many as they could instead of using lawyer or spokesman to do that. The critical skills they used were Interpretation and Analysis. Greg and Stephen knew the people would feel better if they heard the information from Odwalla executives, and the interview was very important because it was the way not only to communicate, but also to express the feeling directly to the public. After the first two actions, the company tried so hard to find...
pages: 2 (words: 540)
comments: 0
added: 11/02/2011
I found the critical thinking inventory very interesting and informative. I will go into detail in the following paper as to why I came to this conclusion. I did take the survey and analyze all of my answers prior to writing this paper. I feel that doing so has given me a greater perspective on my thoughts and beliefs. Starting at he top I feel that my mother and father where by far the greatest influence in my life. They have accomplished this by always being good role models and setting high standards. They also always made sure that I received good support, both physical and mental, whenever I needed it. From them I think that I have learned sound interpretation skills and also good judgment skills. One of the things that I need improving on is my investigation skills. I need to learn to research more into statements or claims that individuals or companies make. I feel that my extent on truth has been reasonable until now given the limits of my education. I think that as I continue my education those truths will either be verified or they will be shown false. I have always made it a point to try and separate hearsay from fact. I also don't generally have any problems admitting when I don't know something. I am very consistent with making sure that the opinions I hold are informed. I try not to limit myself because I think that there is always better ways of doing things. I try and keep myself open to change. I think that without change life would become very unfulfilling and dissatisfying. I feel that the strongest of my urges tend to be the urge to meet my wife's expectations. This has made me a better person because it gives me...
pages: 2 (words: 521)
comments: 0
added: 11/28/2011
A successful business administrator needs to exercise critical thinking all the time in order to understand the points of view of others and see things from different perspectives, to make wise decisions, to discriminate between what is true and what appears to be true, and to avoid repeating the same mistakes. The importance of listening intently and of paying attention to details that may seem insignificant but could be the key to understanding a particular problem or situation. The advantages of teamwork as experienced through the support of the whole group and Team B. Especially this first week, it has been very comforting to know that I am not the only one feeling anxious and uncertain about this new beginning. In addition, the experiences in business and human resources administration shared by some members of the team provide me with insight that is essential to understanding the concepts that we discussed. I would encourage my management team to provide training on critical thinking to all managers and supervisors in order to assure that the proper analysis is carried out before making decisions that will have impact on the growth and productivity of the company. All other employees should also receive training on critical thinking and encouragement to develop skills in this area in order to improve their performance and their chances of advancement. In addition, supervisors and managers should receive training on how to listen actively in order to be more effective when dealing with difficult situations. I would also encourage my company to consider using more teamwork in order to take advantage of the knowledge, experiences, and diversity skills of each team member. I think that these concepts are based on common sense and most of us have some vague knowledge about them. Discussing them this past week helped me to recognize them...
pages: 2 (words: 448)
comments: 0
added: 07/29/2011
Critical Thinking and Decision Making Some believe that critical thinking skills and the ability to use intellectual decision-making skills, are the two main reasons that decide the successful business leader. Even though some people might think this is not true, others are beginning to find out that it is true. The fact that businesses are moving at speeds faster than ever proves this to be true. Being able to use and recognize critical thinking skills and intellectual decision-making, gives you the ability to know if your decision will be right today as well as tomorrow. In order to examine this, you have to look at the understanding of critical thinking and decision-making. Critical thinking as defined in the dictionary is a type of critical analysis: disciplined intellectual criticism that combines research, knowledge of historical context, and balanced judgment (MSN Encarta Plus). Critical thinking as defined in the University of Phoenix: Readings In Critical Thinking is the "reacting with systematic evaluation to what you have heard and read. It also requires a set of skills and attitudes. These skills and attitudes are built around a series of critical questions. […] 1) The awareness of a set of interrelated critical questions. 2) The ability to ask and answer critical questions at appropriate times, and 3) the desire to actively use the critical questions" (3). The material for this course defines critical thinking in many different ways, yet it all points to the same thing. We must have the skills to take one's thinking apart thoroughly, to analyze each part, assess it for quality and then improve it. In order to do this you must first understand the parts of thinking or basics of reasoning. These elements include purpose, question, information, inference, assumptions, point of view, concepts, and implications (Elder and Paul 34). We must take command...
pages: 6 (words: 1471)
comments: 0
added: 12/04/2011
Abstract Critical thinking and decision-making go hand in hand to enable us to evaluate a situation, process the information and determine a course of action. The focus of this paper is to put both critical thinking and decision-making under the microscope for closer inspection to see how one compliments the other and how they are used in our professional and personal lives. In addition, the benefits of critical thinking are examined and whether or not these two elements are present in the company I work for, ACN Communications. Lastly, the nominal group technique will be explored as a means for problem solving. Critical Thinking and Decision Making Critical Thinking As human beings, we are faced with many opportunities to critically think about the world around us. From the commercials we see on television, the articles we read in newspapers and even comments from co-workers about the companies we work for, we have the opportunity to question the world and people around us to determine what we think about it and how we are going to respond. The evaluation and questioning of information and situations around us is called critical thinking. Critical thinking, as defined in the Grolier Encyclopedia, is "the general term given to a wide range of cognitive skills and intellectual dispositions an individual needs to evaluate claims and arguments in everyday situations, to discover and overcome personal prejudices and biases, to assess the reliability of information according to established intellectual standards, and to make decisions about what to believe and what to do." (2002) In my opinion, critical thinking then is our ability to question whether to believe or disbelieve what is in front of us and to decide how we are going to respond to it. How we respond is determined by the decisions that we make. Decision making is a key component...
pages: 6 (words: 1562)
comments: 0
added: 12/14/2011
Critical thinking and quality decision making are intimately related. Making good decisions involves using critical thinking skills to examine the available options thoroughly and picking the best possible course of action. However, there may not be only one "right" answer. Critical thinking skills allow us to "develop the best and most reasonable answer, given the nature of the problem and the available information." (Browne, M. N., Keeley, S. M., McCall, M. W., & Kaplan, R. E., 2001, 15) To further examine the relationship of critical thinking and decision-making, we will attempt to define both using materials from the course and my own opinion, describe how they relate to each other, and explain the benefits of critical thinking in my work environment. Critical thinking can be described as "an awareness of a set of interrelated critical thinking questions, plus the ability and willingness to ask and answer them at appropriate times." (Browne et al., 2001, 5) The set of questions used are designed to actively define and analyze assumptions about the topic. Instead of passively reading or listening to ideas, critical thinkers ask questions to examine the point of view of the author and his or her assumptions and beliefs. One version of critical thinking labeled "strong-sense" critical thinking is defined as "the use of the same skills to evaluate all claims and beliefs, especially your own." (Browne et al., 2001, 22) By becoming aware of our own assumptions and beliefs as well as others, we are able to make sound decisions. Becoming aware of our assumptions and beliefs is critical to sound decisions making. "Decision makers are inseparable from the transactional context in which they are embedded." (Christensen, S., 2000, May) It is impossible to completely separate Critical Thinking and Decision Making 3 oneself from the circumstances involved with making a decision. However, critical...
pages: 3 (words: 603)
comments: 0
added: 01/08/2012
Critical thinking is the process of actively listening and carefully questioning the facts, opinions, and views expressed by others. As a result, the critical thinker is able to come to an educated, defensible conclusion or decision. To make a decision is to take action on a problem or to arrive at a conclusion based on facts learned by, not given to, the critical thinker. A decision can also become a belief by discovering your own personal truths through careful consideration and thought. The authors Browne, Keeley, McCall, and Kaplan (2001) of our e-text Critical Thinking: Strategies in Decision Making describe critical thinking as the mastery of two learned skills. The first skill deals with the way we take information in, specifically the way we listen and read. The second skill is the art of asking penetrating questions that help identify fallacies and fuzzy logic. The authors define a decision as, "…your best and most reasonable answer, given the nature of the problem and the available information" (p.15). Critical thinking and decision-making go hand in hand. A decision made without critical thinking is essentially a random guess or an unsubstantiated opinion and is of little value to anyone. Critical thinking without arriving at a decision or an answer only results in migraine headaches. The benefits of becoming a skilled critical thinker are; an elevated sense of confidence and self worth, as well as the ability to lead within a community, organization or profession. Leaders have to be extremely gifted and well versed critical thinkers. The ability to think critically provides a strong foundation for ones beliefs and values and enables the thinker to more effectively communicate their ideas and opinions. As a technical consultant at MCI I am constantly challenged to uncover opportunities, overcome objections, and gain my clients acceptance of new ideas and products. While...
pages: 2 (words: 415)
comments: 0
added: 12/10/2011
Introduction Everything we do in life is determined by the quality of your thinking and the decision that it leads to. However, there exists a lack of awareness how one should think and make decisions. Absence of clear thinking will lead to failure both in personal and professional life. Decisions resulting from unclear thinking will lead to frustration, ineffectiveness, and financial loss and ultimately to failure. Critical Thinking is about becoming a better thinker in every aspect of life. It will lead to perform more effectively both in personal and professional life by empowering oneself. It will ultimately lead to avoiding disastrous mistakes, and gaining clarity, and discovering new opportunities. Critical Thinking Critical thinking is a reasoning process in which individuals are expected to analyze their own thoughts, actions and decisions as well as those of others. The critical thinker is also expected to consider alternatives and makes an informed decision by applying reasoning and logic. It involves knowledge, acquisition of related information, application / analysis and evaluation of the collected information. Before making the final decision, one is expected to thoroughly execute these steps and compare, contrast, examine the data before reaching the decisions. It encourages new and innovative ways of approaching situations in one's personal and professional life. Decision Making All of us are constantly faced with the need to make decisions. Some people put off making decisions because they're afraid that their choices may not be the right ones, while others make snap decisions that are not based upon thoughtful consideration. We are always challenged to make good decisions— most of the time with limited information under serious time constraints. Decision-making is central to human activity. Every human being is a decision-maker. We all make decisions, big or small, in day-to-day life. However, good decision-making will result only when critical-thinking is applied. Decision-making...
pages: 5 (words: 1115)
comments: 0
added: 01/02/2012
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