University Report: Critical Thinking and Decision Making Analysis

This report delves into the concepts of critical thinking and decision-making within a business environment. It examines the significance of critical thinking, the steps involved in the process, and its impact on managerial decisions. The report explores various tools and theories, including the DISC assessment and the prospects theory, to understand how personality types and cognitive biases influence decision-making. It emphasizes the importance of self-reflection, skill improvement, and the application of these concepts in future career paths. The analysis highlights the strengths and weaknesses identified through the DISC assessment and discusses strategies for enhancing communication skills and managing workplace stress. The report concludes by summarizing the learning outcomes and their relevance to future professional endeavors.

Running head: CRITICAL THINKING AND DECISION MAKING
Critical thinking and decision making
Name of the student
University name
Author’s note

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CRITICAL THINKING AND DECISION MAKING
Table of Contents
Introduction................................................................................................................................2
Concepts related to critical thinking and managerial decision making......................................2
Significance of concepts............................................................................................................4
Self reflection using DISC tools................................................................................................6
Skill improvement......................................................................................................................7
Conclusion..................................................................................................................................8
Bibliography...............................................................................................................................9

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CRITICAL THINKING AND DECISION MAKING
Introduction
The current assignment focuses on the concept of critical thinking and decision
making in business. A business environment is surrounded by a huge array of diverse issues
and problems. In order to solve some of the problems, theories and concepts of critical
thinking could be applied. It is based on reflecting upon the present cues to think and analyse
strategically. Thus, using the concepts of critical thinking the productivity of the organozation
could be enhanced. Additionally, the strategically planned goals can give the organization a
competitive advantage over some of its similar market players.
The assignment discusses the different aspects of critical thinking in more details. It
also helps in understanding the effect of critical thinking on managerial decision making.
Additionally, some of the tools of decision making such as DISC has been discussed over
here in order to get a comprehensive idea regarding the influence of personality types on
decision making.
Concepts related to critical thinking and managerial decision making
In order to understand the critical thinking process, one needs to develop a clear
vision regarding automatic thinking first. In automatic thinking, one is more so guided by
instincts where the stimulus of the external environment is used to create an immediate
response within the minds of people. In automatic thinking less time is spent upon getting the
concepts clear1. On the other hand, in critical thinking more time is devoted to reaching to
1 Helfat, Constance E., and Margaret A. Peteraf, "Managerial cognitive capabilities and the
microfoundations of dynamic capabilities," Strategic Management Journa, vol. 3, no.6 ,
2015, pp. 831-850.

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CRITICAL THINKING AND DECISION MAKING
clarity before arriving at particular decision. In critical thinking, the perspectives of others are
also taken into consideration while arriving at an important decision. The clarity in decision
making is reached in ten important steps, which had been further discussed over here. Some
of these are emptying of the thought bucket, collecting information pertaining to the present
situation, understanding the need for bringing about a certain change, anticipatory thinking,
using the ingredient diagram etc. As per emptying the bucket objective, the manager in
charge of the organizational decision making needs to take into consideration the past
experiences as well as the outcomes of the past actions before deciding upon the present
course of action2. This is followed by the inspection stages which focuses on a WHY to get a
better understandings of the problem situation first as well as rule out the ambiguity, which
may plague the decision making. One of the most crucial stage is asking of the questions –
“so what?” and “what is the need?”.
It is at this stage that the ingredient diagram is drawn, which helps in calculating the
difference between clarity and conclusions. It is based identification of the problem situation,
the weight of the exact problems situation and the organizational resources and tactics, which
could be used for strategically deciding upon a situation3. One of the most important roles
2 Goetsch, David L., and Stanley B. Davis, ‘Quality management for organizational
excellence’, Upper Saddle River, NJ: pearson, 2014, pp.55-65
3 Eggers, Fabian, Kathi J. Lovelace, and Frederik Kraft, ‘Fostering creativity through critical
thinking: The case of business start‐up simulations’,Creativity and Innovation Management,
vol. 26, no. 3, 2017, pp 266-276.

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CRITICAL THINKING AND DECISION MAKING
which could be undertaken by the manager over here is playing the role of a thinking coach
and helps others think more effectively and deeply upon the problem situation4.
One of the theories which could be highlighted over here is the prospects theory,
which is a behavioural economics theory and helps individual to choose between alternative
options and could minimise the risks involved in the implementation of a new idea5 . As per
the theory losses are weighted upon more seriously than gains. It is the fear of the losses
which often prevent individual and organizations from adopting a particular decision making
pathway.
Significance of concepts
The concepts of critical thinking and decision making are important in understanding
the different personality types and the manner in which the thought process of the different
projected by the different people involved within an organizational setup can influence the
success rates of the business.
In this respect, the view put across by different psychologists has been taken into
consideration over here. For example, as quoted and explained through the science of
personality man is a social animal and from the primitive times have been dwelling in groups.
4 Todorovic, Milan, ‘Business modelling and interactive contexts Commercialization of share
cultures: promotional role of’ , Rethinking Strategy for Creative Industries. Abingdon:
Routledge, 2016, pp.141-173.
5 Graham, John R., Campbell R. Harvey, and Manju Puri, ‘Capital allocation and delegation
of decision-making authority within firms’, Journal of Financial Economics, vol.115,
no.3,2015, pp. 449-470.

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CRITICAL THINKING AND DECISION MAKING
The groups certainly have a hierarchy and the third people need to have a sense of meaning6.
The meaning is guided by their interpersonal social and cultural beliefs, which further affects
the amount of participation shown by people in social group7. Within a group, the discussion
regraidng the impending losses are highly prevalent, which can affect individual willingness
towards certain actions or activities8. This view has been further supported through the
prospects theory.
This view could be further supported through Daniel kahneman’s work on thinking
fast and thinking slow. The theory suggested by the behavioural economist’s states that the
fog in the thinking process is created by the errors present within the cognitive thinking
machinery9. The economists further explained the individual and organizational decision
making using two alternate systems which are system 1 and system 2. The system 1 states
that the decision making done by an individual in rather intuitive and influenced by outside
6 van Beek, Vincent, et al., ‘Self-expressive management of business-critical workloads in
virtualized datacenters’, Computer, vol. 48, no. 7, 2015, pp. 46-54.
7 Vahlne, Jan-Erik, and Jan Johanson, ‘The internationalization process of the firm—a model
of knowledge development and increasing foreign market commitments’, International
Business, Abingdon: Routledge, 2017, pp-145-154.
8 Klikauer, Thomas, ‘What is managerialism?’ , Critical Sociology, vol. 41, no. 7-8, 2015),
pp.1103-1119.
9 Uher, Jana, ‘Basic definitions in personality psychology: Challenges for conceptual
integrations’ , European Journal of Personality, vol. 31, no. 5 ,2017, pp. 572-573.

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CRITICAL THINKING AND DECISION MAKING
stimulus which generates a less pondered upon much faster reaction. On the other hand the
system 2 follows the system 1 which aims at a much slow and deliberate thought process of
finding out a solution to a problem10. This view further supports the prospects theory where
the fear of losses takes the centre stage in decision making. Hence, establishing studying the
theories and concepts in more details will help an individual to strike an effective balance
between spontaneous decision making and a slow and well thought out process of decision
making.
Self reflection using DISC tools
Additionally, using tools such as the DISC helps in understanding individual
personality. It also helps in understanding the effect the personality of an individual on their
decision making aspects. One of the frameworks which could be explained over here is the
DISC framework where the acronym stands for; D- dominant, I-inspiring, S-supportive and
C-cautious. In order to evaluate the personality type which t is first necessary to analyse the
different personality types. The D-type refers to people with dominating personalities who
are goal –oriented, strong willed, likes control and power. They are more concerned about
loosing control and power that helping through individual growth within the organization.
The I type refers to optimistic, people-oriented, spontaneous individuals who are bit
unorganised under pressure are dependent much upon social support for decision making.
The S type refers to calm, composed, trustworthy individuals who are good at handling and
management of situations under pressure. The C type refers to cautious individuals who are
precise, logical and analytical in their judgement where more emphasis is given upon the data
10 Vohra, P. S., and Mr BR Biradar, ‘Review of Daniel Kahnemana’s Thinking, Fast and
Slow’, Global Journal of Management And Business Research, 2017, pp.154-213.

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CRITICAL THINKING AND DECISION MAKING
analytics. However, the over cautious individual become extremely critical of their work
environment and work situations under pressure11.
Therefore, using the DISC tool I understood that I belong to the C category where as a
fresher I am more apprehensive about my work or work environment under pressure. Thus,
under situations I have often felt that I am not able to handle the pressure and had been de-
motivated easily. Hence, I think sufficient support from the supervisor could have helped me
in dealing with the situation.
Skill improvement
The study helped in highlighted some of my core strengths as well as weaknesses. In
order to arrive at a cumulative decision team negotiations skills are very important. The team
negotiation skills are further dependent upon various aspects of communication. Therefore,
working as part of a team I have realized that my communication skills are strong, which
helps me understand as well as deliver my messages clearly and concisely. However, I have
often felt that working as part of a multicultural organization I often have to communicate
with diverse groups of people who come from different geographical territories. Therefore,
communicating with them in English often becomes a problem. Therefore, I could focus
more upon using friendly gestures for communicating with my colleagues as it also helps in
making the team binding stronger.
One of the self weaknesses which I have come across during the study is that I often
become conscious and sceptical at moments of pressure. Therefore, I need to develop a
stronger mental immunity for coping up with workplace stress.
11 Gallinucci, Enrico, Matteo Golfarelli, and Stefano Rizzi, ‘Advanced topic modeling for
social business intelligence’, Information Systems, vol. 53, 2015, pp. 87-106.

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CRITICAL THINKING AND DECISION MAKING
Conclusion
Use of present learning in future course of career
The present learning has helped me a lot in shaping my future course of action. The
different theories and concepts related to critical thinking and decision making has helped me
in understanding the different layers of thought process which goes into making a decision.
Additionally, the different tools and approaches adopted over here have helped me in
understanding the different personality types. The identification of own personality along
with the strengths and weakness associated can help an individual in improving at their place
of work.
The assignment also explains the dilemmas which go into decision making. Hence,
addressing those concerns can help in improving the prospects of an individual and an
organization.

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CRITICAL THINKING AND DECISION MAKING
Bibliography
Eggers, Fabian, Kathi J. Lovelace, and Frederik Kraft, ‘Fostering creativity through critical
thinking: The case of business start‐up simulations’,Creativity and Innovation Management,
vol. 26, no. 3, 2017, pp 266-276.
Gallinucci, Enrico, Matteo Golfarelli, and Stefano Rizzi, ‘Advanced topic modeling for social
business intelligence’, Information Systems, vol. 53, 2015, pp. 87-106.
Goetsch, David L., and Stanley B. Davis, ‘Quality management for organizational
excellence’, Upper Saddle River, NJ: pearson, 2014, pp.55-65
Graham, John R., Campbell R. Harvey, and Manju Puri, ‘Capital allocation and delegation of
decision-making authority within firms’, Journal of Financial Economics, vol.115,
no.3,2015, pp. 449-470.
Helfat, Constance E., and Margaret A. Peteraf, "Managerial cognitive capabilities and the
microfoundations of dynamic capabilities," Strategic Management Journa, vol. 3, no.6 ,
2015, pp. 831-850.
Klikauer, Thomas, ‘What is managerialism?’ , Critical Sociology, vol. 41, no. 7-8, 2015),
pp.1103-1119.
Todorovic, Milan, ‘Business modelling and interactive contexts Commercialization of share
cultures: promotional role of’ , Rethinking Strategy for Creative Industries. Abingdon:
Routledge, 2016, pp.141-173.
Trieu, Van-Hau, ‘Getting value from Business Intelligence systems: A review and research
agenda’ , Decision Support Systems, vol. 93, 2017, pp.111-124.

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CRITICAL THINKING AND DECISION MAKING
Uher, Jana, ‘Basic definitions in personality psychology: Challenges for conceptual
integrations’ , European Journal of Personality, vol. 31, no. 5 ,2017, pp. 572-573.
Vahlne, Jan-Erik, and Jan Johanson, ‘The internationalization process of the firm—a model
of knowledge development and increasing foreign market commitments’, International
Business, Abingdon: Routledge, 2017, pp-145-154.
van Beek, Vincent, et al., ‘Self-expressive management of business-critical workloads in
virtualized datacenters’, Computer, vol. 48, no. 7, 2015, pp. 46-54.
Vohra, P. S., and Mr BR Biradar, ‘Review of Daniel Kahnemana’s Thinking, Fast and Slow’,
Global Journal of Management And Business Research, 2017, pp.154-213.