What Is Critical Thinking: Application and Benefits?

What is Critical Thinking: Application and Benefits?

Critical Thinking is the ability to evaluate any decision without prejudice, through thorough reasoning and credible evidence and after appropriate clarifications. Any decision whether big or small may be broken down into smaller choices and alternatives, each of which when evaluated independently help to reach the set of best choices available. Each alternative provides us with a unique set of results which may be estimated beforehand by critical thinking. Then the results kept in mind before taking the final decision and then working to implement it.

I would like to run the critical thinking process through the starting and establishing of our Food Business.

Critical thinking can be seen as having two components:

1) A set of information and belief generating and processing skills, which in this case was the natural inclination in habit and network of my father in the Food and Beverage industry.

2) The habit, based on intellectual commitment, of using those skills to guide behaviour. This was earned on merit by me and my father by working in the daily affairs of the business until we moved through each goal was establishing the venture, running the operations daily and then successfully creating a profitable model for expansion.

It is thus to be contrasted with:

1) The mere acquisition and retention of information alone, because it involves a particular way in which information is sought and treated;

2) The mere possession of a set of skills, because it involves the continual use of them.

3) The mere use of those skills ("as an exercise") without acceptance of their results.

Fuelled by the spending power of the number of urban middle class families, India has witnessed the rise of the shopping mall culture, which has provided a major growth spurt to the food and beverage sector. We were lucky enough to see the opportunity in getting into the industry at the right moment and this is where I feel my father exhibited the essential principles of critical thinking in order to arrive at a well informed decision.

With the initial financial assistance available to us, he wanted to create a long lasting and profitable business. It is now that I understand his entire decision making process through the critical thinking cycle. With a natural inclination towards the F&B industry and the assessment of the future demand, my family began our new journey.

As step 1 of identifying our goal of establishing a business was completed, we proceeded to step 2 of defining our objectives and criteria. We established a basic business model to set up 3 outlets in prominent mall locations across the National Capital Region of India, along with our break even period estimated to be between 8-12 months. The objective was simple; provide a healthy and excellent culinary experience to the hungry shoppers growing in number