Critical Thinking and Decision Making Biases, Summaries of Creative Thinking

An in-depth analysis of critical thinking, its components, and the barriers that hinder it. It also explores various decision-making biases and their impacts on decision-making processes. A valuable resource for students studying psychology, cognitive sciences, or business management, offering insights into the art of thinking and decision-making.

Typology: Summaries

2023/2024

Uploaded on 04/13/2024

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Critical midterm Examen
Chap1
Explain the second of the Critical thinking:
Is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing and
evaluating information gathered from or generated by observation experience reflection, reasoning or communication
as a guide to belief and action.
Critical thinking skills:
- Analyzing
- Evaluating
- Reasoning
- Solving problems
- Decision making
Three interlinking dimensions of critical thinking
1. Analyzing one's own thinking- breaking it down into its component parts.
2. Evaluating one's own thinking- identifying its weaknesses while recognizing its strengths.
3. Improving one's own thinking- reconstructing it to make it better.
Paul and Elder Critical Thinking Definition
the art of thinking about thinking while thinking in order to make thinking better.
What are the common decision making biases?
Common decision-making biases are overconfidence bias, anchoring bias, hindsight bias, confirmation bias, and
availability bias. Overconfidence bias is the excessive belief in one's abilities. Anchoring bias relies heavily on one piece
of information, while hindsight bias refers to one's interpretation of past events. Confirmation bias uses new
information to support preexisting beliefs, and availability bias refers to decisions that are made based on the
information most easily available.
What are the types of bias?
There are various types of bias. Unconscious bias is usually unintentional, while conscious bias derives from the rational
mind. Biases can be divided into ability-type biases such as overconfidence and hindsight, as well as information-type
biases which reflect the interpretation of facts.
How do biases affect decision making?
Biases can lead to poor decision-making, as biases inherently bring forth one's prejudices. Cognitive biases can lead one
to overestimate their capabilities, misunderstandings with others, and have incorrect thought processes.
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Critical midterm Examen Chap Explain the second of the Critical thinking: Is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing and evaluating information gathered from or generated by observation experience reflection, reasoning or communication as a guide to belief and action. Critical thinking skills:

  • Analyzing
  • Evaluating
  • Reasoning
  • Solving problems
  • Decision making Three interlinking dimensions of critical thinking
  1. Analyzing one's own thinking- breaking it down into its component parts.
  2. Evaluating one's own thinking- identifying its weaknesses while recognizing its strengths.
  3. Improving one's own thinking- reconstructing it to make it better. Paul and Elder Critical Thinking Definition the art of thinking about thinking while thinking in order to make thinking better. What are the common decision making biases? Common decision-making biases are overconfidence bias, anchoring bias, hindsight bias, confirmation bias, and availability bias. Overconfidence bias is the excessive belief in one's abilities. Anchoring bias relies heavily on one piece of information, while hindsight bias refers to one's interpretation of past events. Confirmation bias uses new information to support preexisting beliefs, and availability bias refers to decisions that are made based on the information most easily available. What are the types of bias? There are various types of bias. Unconscious bias is usually unintentional, while conscious bias derives from the rational mind. Biases can be divided into ability-type biases such as overconfidence and hindsight, as well as information-type biases which reflect the interpretation of facts. How do biases affect decision making? Biases can lead to poor decision-making, as biases inherently bring forth one's prejudices. Cognitive biases can lead one to overestimate their capabilities, misunderstandings with others, and have incorrect thought processes.

1.barrier to critical thinking list and explain? Major barriers to critical thinking include: egocentrism, sociocentrism, unwarranted assumptions, relativistic thinking, and wishful thinking.

- Egocentrism is the tendency to see reality as centered on oneself. Two common forms of egocentrism are self- interested thinking (the tendency to accept and defend beliefs that accord with one’s own self-interest) and self- serving bias (the tendency to overrate oneself). - Sociocentrism is group-centered thinking. Two common varieties of sociocentrism are group bias (the tendency to see one’s culture or group as being better than others) and conformism (the tendency to conform, often unthinkingly, to authority or to group standards of conduct and belief). - Unwarranted assumptions are things we take for granted without good reason. Often, unwarranted assumptions take the form of stereotypes. - Stereotypes are generalizations about a group of people in which identical characteristics are assigned to all or virtually all members of the group, often without regard to whether such attributions are accurate. - Relativistic thinking is thinking that is based on the idea that there is no “objective” or “absolute” truth because truth is simply a matter of opinion. The most popular form of relativism is moral relativism, which holds that what is morally right and good varies from individual to individual ( moral subjectivism ) or from culture to culture ( cultural moral relativism ). - Wishful thinking is believing something because it makes one feel good, not because there is good reason for thinking that it is true. Critical thinking can be seen as having two components:

  1. a set of information and belief generating and processing skills, and
  2. the habit, based on intellectual commitment, of using those skills to guide behavior. What are the common decision making biases? Common decision-making biases are overconfidence bias, anchoring bias, hindsight bias, confirmation bias, and availability bias. 1- Overconfidence bias is the excessive belief in one's abilities. Holding unrealistically positive views of one’s self and one’s performance. 2- Anchoring bias relies heavily on one piece of information, Fixating on initial information and ignoring subsequent information. 3- hindsight bias refers to one's interpretation of past events. Mistakenly believing that an event could have been predicted once the actual outcome is known (after-the-fact). 4- Confirmation bias uses new information to support preexisting beliefs, Holding unrealistically positive views of one’s self and one’s performance. 5- availability bias refers to decisions that are made based on the information most easily available. Losing decision-making objectivity by focusing on the most recent events. 6- Selective Perception Bias Selecting organizing and interpreting events based on the decision maker’s biased perceptions. 7- Framing Bias Selecting and highlighting certain aspects of a situation while ignoring other aspects.

Corporate goals are broken down into smaller, more specific goals at each level of organization. What are the 4 key elements of MBO? Goal specificity 1- Participative decision making 2- Explicit time period 3- Performance feedback Five key skills that are needed to be a good problem solver; 1- Analytical Ability : means that know how to visualize, gather information, articulate, analyze, solve complex problems and make decisions Example: analytical skills are essential in the workplace to ensure necessary problem solving occurs for the business to function smoothly. 2- Lateral Thinking: This is our old friend creativity by another name. It involves discarding the obvious, leaving behind the usual modes of thought and throwing away preconceptions and using your inspiration and imagination to solve problems by looking at them from unexpected perspectives. 3- Logical Reasoning: a major aspect of our other friend Critical Thinking. It is asking the important questions, gathering and assessing relevant information, arriving at well-reasoned conclusions while staying open-minded and then communicating effectively with others to arrive at solutions. 4- Initiative: is seizing upon opportunities and taking the lead to solve problems, rather than to pass them on to other people. It can also involve anticipating potential problems and taking preemptive steps to resolve them. 5- Persistence Perseverance and persistence are highly related to the ability to not only solve the problem, but to also enact a solution. It’s all very well to finally come up with a solution, but it only matters to you or your organization if it is carried out despite any obstacles. Problem solving Basics: Critical thinking:

- Analyze thinking - Plan a solution - Evaluate the solution - Implement the solution

Creativity thinking:

- Imagine solution - Imagine Applying the solution - Improve the solution Approaches to ethical behavior: 1- Utilitarian Judged by consequences the goal of this perspective is to create as much benefit as possible for an organization. And important key concepts are efficiency, productivity and profitability 2- Rules and Individual Rights determined by laws and standards Fundamental rights in all decisions 3- Social Contract (Justice) determined by the customs and norms of a particular community Hail the society 4- Personalistic ethics determined by one’s conscience. Generally accepted as; highly dependent on moral development level of individuals Kohlberg’s Levels of Moral Development 1. Preconvention level Characterized by a concern for self Personal interest Avoidance of punishment 2. Conventional level Characterized consideration of society’s values External code of conduct 3. Principled level Characterized by adherence to internal moral code Universal values or principles