FIN 3054 Lecture Notes - Lecture 2: Golden Rule, Legal Realism
29 Aug 2016
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Of those facts there are only a small number that are necessary. Sort through the facts and find the real issue that must be resolved (often posed as a question). Analyze how the rule applies to the facts. Based on analysis, one can draw a conclusion. Critical thinking: examines how or if the conclusion logically flows from the analysis. The facts support the conclusion that there is no better conclusion that can be drawn. In contrast, a fallacy is an error in reasoning. Critical thinking in business not all decisions in business will generate an intended outcome. Objectively and systematically look at each piece of evidence to see if it accurately supports the conclusion. Look for any flawed reasoning or evidence that the facts do not support a conclusion. Identify as many stakeholders (all entities that may be impacted by a particular decision) as possible. Determine short-term vs. long-term effects of the decision.
