A recent study conducted by Dunn & Bradstreet found that 90% of all business failures can be traced to poor management resulting from lack of knowledge … the inability of management to critically think about their business.
Critical thinking isn’t an abstract, transferable skill…it’s “domain specific”. In other words, critical thinking is intimately tied to knowledge of the subject. First, you must possess information to think about it & the way you think about information in one field (like business) is almost entirely different from how you think about it in another field (like chemistry). To avoid these common traps and mistakes, it is absolutely imperative that you acquire business knowledge and apply it.
Critically thinking about your business requires knowledge in four key business areas: planning; accounting; marketing/sales; and Human Resources … I challenge you to take the quiz and let me know how you do!
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