Critical thinking involves weighing alternatives

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Critical thinking involves weighing alternatives

The market opportunity must fit with the product concept in that there must be demand in the market for the product or service, and of course, early customers those willing to purchase have to be identified.

Finally, sufficient resources, including financial resources e. Each piece is discussed in more detail in the sections that follow. The Opportunity The opportunity is a chance to engage in trades with customers that satisfy their desires while generating returns that enable you to continue to operate and to build your business over time.

Many different conditions in society can create opportunities for new goods and services. As a prospective entrepreneur, the key questions are as follows: What are the conditions that have created a marketplace opportunity for my idea?

Why do people want and need something new at this point in time?

We must go beyond Bloom's taxonomy to consider specific dispositions and abilities characteristic of critical thinkers. The recent explosion of interest in critical thinking . The secret to becoming a great leader? Don’t act like one, Martin advises. Instead, think like one. Brilliant leaders excel at integrative initiativeblog.com can hold two opposing ideas in . Social studies is the study of people in relation to each other and to their world. It is an issues-focused and inquiry-based interdisciplinary subject that draws upon history, geography, ecology, economics, law, philosophy, political science and other social science disciplines.

What are the factors that have opened Critical thinking involves weighing alternatives the opportunity? Will the opportunity be enduring, or is it a window that is open today but likely to close tomorrow? If you perceive an unmet need, can you deliver what the customer wants while generating durable margins and profits?

Sustainability considerations push this analysis further, asking how you can meet the market need with the smallest ecological footprint possible. Ideally, this need is met through material and energy choices that enhance natural systems; such systems include healthy human bodies and communities as well as environmental systems.

Sustainability considerations include reducing negative impact as well as working to improve the larger system outcomes whenever and wherever financially possible.

Let us examine the different pieces separately before we try to put them all together. Opportunity conditions arise from a variety of sources. At a broad societal level, they are present as the result of forces such as shifting demographics, changes in knowledge and understanding due to scientific advances, a rebalancing or imbalance of political winds, or changing attitudes and norms that give rise to new needs.

These macroforces constantly open up new opportunities for entrepreneurs. Demographic changes will dictate the expansion or contraction of market segments. For example, aging populations in industrialized countries need different products and services to meet their daily requirements, particularly if the trend to stay in their homes continues.

Younger populations in emerging economies want products to meet a very different set of material needs and interests. Features for cell phones, advanced laptop computer designs, gaming software, and other entertainment delivery technologies are higher priorities to this demographic group.

Related to sustainability concerns, certain demographic shifts and pollution challenges create opportunities. Furthermore, toxicological science tells us that industrial chemicals ingested by breathing polluted air, drinking unclean water, and eating microscopically contaminated food pass through the placenta into growing fetuses.

We did not have this information ten years ago, but monitoring and detection technologies have improved significantly over a short time frame and such new information creates opportunities. When we speak of an opportunity, we mean the chance to satisfy a specific need for a customer.

The customer has a problem that needs an answer or a solution. The opportunity first presents itself when the entrepreneur sees a way to innovatively solve that problem better than existing choices do and at a comparable price.

Assuming there are many buyers who have the same problem and would purchase the solution offered, the opportunity becomes a true business and market opportunity. When opportunities are of a sufficient scale in other words, enough customers can be attracted quicklyand revenues will cover your costs and promise in the near term to offer excess revenue after initial start-up investment expenditures are repaid, then you have a legitimate economic opportunity in the marketplace.

It is important to understand that ideas for businesses are not always actual opportunities; unless suppliers are available and customers can be identified and tapped, the ideas may not develop into opportunities.

Furthermore, an opportunity has multiple dimensions that must be considered including its duration, the size of the targeted market segment, pricing options that enable you to cover expenses, and so forth.

These dimensions must be explored and analyzed as rigorously as possible. While business plans can serve multiple purposes, the first and most important reason for writing a business plan is to test whether an idea is truly an economically promising market opportunity. The Entrepreneur The opportunity and the entrepreneur must be intertwined in a way that optimizes the probability for success.

People often become entrepreneurs when they see an opportunity. They are compelled to start a venture to find out whether they can convert that opportunity into an ongoing business.

Thinking Outside the Box: A Misguided Idea | Psychology Today

However, before we talk about alignment, which is our ultimate destination, we look at the entrepreneur. Consider the individual entrepreneur as a distinct analytic category by considering the following questions: Who is this person? What does this person bring to the table?

What education, skills, and expertise does this person possess? Like the opportunity, the entrepreneur can be broken down into components. The components are as follows:There is, of course, a legitimate argument for some limitation upon immigration. We no longer need settlers for virgin lands, and our economy is expanding more slowly than in the nineteenth and early twentieth century.

Critical thinking is the objective analysis of facts to form a judgment. The subject is complex, and several different definitions exist, which generally include the rational, skeptical, unbiased analysis, or evaluation of factual initiativeblog.comal thinking is self-directed, self-disciplined, self-monitored, and self-corrective thinking.

It presupposed . Interestingly, the foible of credulity you highlight is very much a part of our hosts modus operandi. Above, we see our host present a Wall Street op-ed with self selected signatories as being representative of the mainstream, with absolutely zero critical reflection, while at the same time labouring to refute critics of “The Bell Curve”.

We must go beyond Bloom's taxonomy to consider specific dispositions and abilities characteristic of critical thinkers. The recent explosion of interest in critical thinking . Rationally Speaking is a blog maintained by Prof. Massimo Pigliucci, a philosopher at the City University of New York.

Critical thinking involves weighing alternatives

The blog reflects the Enlightenment figure Marquis de Condorcet's idea of what a public intellectual (yes, we know, that's such a bad word) ought to be: someone who devotes himself to "the tracking down of prejudices in the hiding .

The Critical Thinking Co.™ "Critical thinking is the identification and evaluation of evidence to guide decision making. A critical thinker uses broad in-depth analysis of evidence to make decisions and communicate his/her beliefs clearly and accurately.".

Chapter 1: The Nature of Science