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Dafna1 [17]
3 years ago
10

Summarize three reasons why it is important to use critical thinking.

Business
1 answer:
shtirl [24]3 years ago
3 0

Answer:

Improve communication strategies

Support smooth operations

Streamline product development

Explanation:

<u>Improve communication strategies</u>. Communicating with different types of people requires defining the needs of the target audience, which demands critical thinking. For example, if a company is being bought out by a competitor, the CEO must consider how this will impact everyone, from low-level employees to investors, and determine what messages to convey to each party. Acting quickly is essential, as he or she should be the first to give the employees the news to maintain their trust.

<u>Support smooth operations. </u>Maintaining daily operations in an ever-changing environment requires constant critical thinking. For example, if the power goes out at a restaurant and there is no emergency generator, the manager must decide not only what to do with the customers and staff but also whether and how to salvage refrigerated food. The quicker the manager acts, the more likely he or she is to make the best of an unfortunate situation.

<u>Streamline product development.</u> A product development role requires multiple decisions to ensure efficacy, marketability and safety. For instance, if a company is marketing a new kitchen gadget, designing it a certain way would make it look more appealing, but that design could also make it more difficult to use. Should the company prioritize function or fashion? The sooner it reaches a decision, the sooner production can begin.

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From year 1 to year 2,  the real GDP of the economy increases by 20%.

<h3>What is real GDP?</h3>

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year.

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation. It reflects the value of goods and services produced in an economy.

<h3>What is the increase in real GDP?</h3>

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To learn more about GDP, please check: brainly.com/question/15225458

5 0
2 years ago
Create a cash flow statement for your own finances. Why are cash flow statements useful in managing money?
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3 years ago
​Miguel, a manager for Sierra​ Company, is inspecting the reports provided by his​ company's accounting department. He wants to
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Answer:

The correct answer is letter "A": managerial accounting information.

Explanation:

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