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INTBUS 7501 Contemporary Issues In Business And Marketing

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INTBUS 7501 Contemporary Issues In Business And Marketing

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INTBUS 7501 Contemporary Issues In Business And Marketing

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Course Code: INTBUS7501
University: The University Of Adelaide

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Country: Australia

Question: 
Conduct credible academic research and in a essay, explain the role of critical thinking in business.What is the process involved in formulating a business problem?How does critical thinking differ from creative thinking?What role do personalities play in critical thinking?Instructions:
Answer: 

The aim of this essay is to discuss the importance of critical thinking in the successful business process. The essay discusses the processes which are involved in formulating a business problem, the factors based on which the critical thinking differ from creative thinking and the role of personalities in critical thinking process.
In this competitive business market, the organisations operating in both the domestic as well as international markets face various types of problems in their operations. The scholars like (Goldberg et al. 2015) have identified that these problems can be both internal as well as external. This is the reason why; the management need to follow some steps which will help them to formulate these problems quite easily. In order to solve a problem both internal as well as external, the management needs to follow only three simple steps that are involved in the process of formulating business problems. The first step is to identify the issue for which the organisations are facing disturbance in successful operation, the second step is to identify their immediate or direct causes along with the consequences of those problems and the third step is to define the problem based on proper information and experience along with critical thinking so that the solution of these problems can be identified quite effortlessly.
The authors like (Kane, 2017) have identified some factor that differentiate critical thinking from the creative thinking. These factors are- innovation, analysis, divergence, assurance and dependence on the accepted principles. The creative thinking process id much more supportive of trying something new, one the other hand, critical thinking assesses the validity of something that is already present in the understanding. Creative thinking process is generative but critical thinking process is analytical. The creative thinking process focuses on the possibilities but critical thinking focusses on probabilities (Howard, Tang & Austin, 2015). Creative thinking process shows divergent opines but the critical thinking procedures are convergent. Finally, creative thinking process is accomplished with the process of disregarding the accepted principles but critical thinking applies accepted principles.
Personality is the high order thinking which directly relates with the critical thinking. It plays big role as every individual have different set of thinking and understanding. Which alters with personality development. The persons who think differently and logically can easily be a critical thinker (Gambrill, & Gibbs, 2017). The personality as an amalgamation of crystal thinking and creative thinking, will be affective in making decisions. The people with high personality level, can train third thinking logically and they are capable to make effective decisions to solve any kind of problem in the companies. This is the reason why the HR department employee people with good personality as they are capable of handling their thinking in support of the organisational growth.
Therefore. It can be concluded that the critical thinking process as well as creative thinking is important in making decision in the business in one hand and they also help the management to identify problems and in solving them as soon as possible.
References:
Gambrill, E., & Gibbs, L. (2017). Critical thinking for helping professionals: A skills-based workbook. Oxford University Press.
Goldberg, I., Kingsbury, J., Bowell, T., & Howard, D. (2015). Measuring critical thinking about deeply held beliefs: Can the California Critical Thinking Dispositions Inventory help?. Inquiry: Critical Thinking Across the Disciplines, 30(1), 40-50.
Howard, L. W., Tang, T. L. P., & Austin, M. J. (2015). Teaching critical thinking skills: Ability, motivation, intervention, and the Pygmalion effect. Journal of Business Ethics, 128(1), 133-147.
Kane, S. (2017). The Minute Business Challenge: Connecting Undergraduates and the Community Through Critical Thinking. Purdue Journal of Service-Learning and International Engagement, 4(1), 3.

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