Critical Thinking Analysis Paper

905 words - 4 pages

Critical thinking is generally a term given to a wide range of cognitive skills and intellectual dispositions needed to effectively identify, analyze, and evaluate arguments and truth claims. To discover and overcome personal prejudices and biases, to make and give logical opinions, and to make smart decisions are all examples of critical thinking. The author of this paper has used critical thinking in her organization on many occasions. The purpose of this paper is to identify all the steps the author has chosen for her organization and describe how critical thinking affected her decision.Critical Thinking in Consumer PurchaseIn the May 15, 2006 issue of Fortune magazine, the article entitled "Real Estate Survival Guide" demonstrates the steps in critical thinking to assess the value of real estate in today's economy. The author stated "All of us have at one time or another made decisions about consumer purchases, relationships, personal behavior, and the like that we later realized were seriously mistaken or irrational" ( Schmidt, 2006, p. 97). This has been true of the real estate market in the last five years. People have been caught up in a frenzy rushing to outbid and overpay for homes and condominiums. They have been ignoring the facts that prices cannot go up forever, interest rates are rising, and the increasing prices are making it impossible for a large percentage of the population to buy a home. This displays the mistakes that occur when critical thinking does gather all the facts before making a decision. Many of these mistakes are listed by the author'slack of relevant background information, conformism, wishful thinking, overpowering emotions, and resistance to change. When purchasing or selling a home, criticalthinking is an important part of the process because both the good and bad repercussions of the transaction must be weighed.Critical Thinking In Author's OrganizationThe author's company had to go through the steps of critical thinking when considering to invest in a large amount of money in business management software. The sizable cost of the software was at first overwhelming and an immediate deterrent to purchasing it. However, when the benefits of the software to the growth of the company were measured against it, critical thinking concluded that the investment should be made. There were many costs to implement this software. For example, a secretary to run the computer and assist in phone calls, an assistant to input data from the messages to the computer, and the financial planner to deliver the appointments to the assistant and secretary. The future of the company will benefit from the software and the managers use of critical thinking.Another example of using the steps of critical thinking is written about by Aleksandra Todorova in an...

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