critical thinking final exam _ BDO framework basics

critical thinking is

the art of analyzing and evaluating thinking with a view to improving it

professional judgement

the capacity to logically assess situations or circumstances and to draw sound objective conclusions not influenced by cognitive traps and biases

a critical thinker... (5)

1. raises vital questions and problems

2. gathers and uses relevant info

3. comes to well reasoned conclusions

4. thinks open mindedly

5. communicates effectively

what model did we learn from subartic survival?

PrOACT

PrOACT stands for...

PRoblem

Objectives

Alternatives

Consequences

Tradeoffs

decision trigger

alternatives that masquerade as the objective

Tuckmans 5 stages of Team Development

Forming

Storming

Norming

Performing

Adjourning

BDO framework 6 steps

1. define the matter

2. specify objectives

3. identify possibilities

4. gather and analyze info

5. reach conclusion

6.reflect

Iterative Actions - BDO Framework

coach

consult

avoid traps and biases

document

communicate

baseline attributes

technical knowledge

appropriate mindset

business acumen

The attributes nessacary to perform critical thinking

baseline attribute - appropriate mindset

based on the action done and the judgement of the decision maker

ex. auditors have

professional skepticism

Baseline attributes - technical knowledge

knowledge of the industry, best practices, laws and regulations etc.

business acumen

3 specific attributes

1. understanding your organization

2. understanding constituents

3. emotional intelligence

business acumen - understanding your organization

understand mission, values, culture and policies of orginization

business acumen - understanding constituents (clients)

industry, business model, economic climate and culture

Emotional Intelligence

ability to understand navigate and appropriately influence your own emotions and behaviors as well as others

4 components of EQ

1. self awareness

recognize strengths and weakness

2. self management

control emotions and impulses

3. social awareness

recognize others' needs wants motivations pressures and emotions

4. social skills

communicate effectively with others

Iterative Actions

repeated actions that occur throughout the 6 steps of the BDO framework

Coach

Use judgment framework to develop other team members

• Commun framework and vocab is important

• Plan ahead: identify where judgment might typically go wrong

• On-the-job learning: watch for good judgment processes and for traps

Iterative Actions - consult

making use of resources outside of the team to ensure adequate levels of the baseline attributes are present relative to the judgement, to provide frames, and to involve the firm in judgements that involve significant risks

Iterative Actions - avoid traps and biases

proactively identifying where a judgement might be compromised by systematic judgement traps and biases and taking steps to mitigate them

Iterative Actions - document

documenting the progress made to justify and corroborate the soundness of the judgement made

clear concise and complete (begin with the end in mind)

Iterative Actions - communicate

1. Comm sent=/ comm received

2. No words=/ no communication

3. Actions speak louder than words

4. we have 2 ears & 1 mouth for reason

5. Comm mediums affect meaning

blind spot bias

Failing to recognize your own cognitive biases is a bias in itself. People notice cognitive and motivational biases much more in others than in themselves.

internal communication

Communication between people inside the business

external communication

talking to those outside the business

five principles of good communication

1. communication sent does not equal communication received

2. no words does not mean no communication

3. actions speak louder than words

4. we have two ears and one mouth for a reason

5. communication mediums affect meaning

Group Judgment Pitfalls

Overconfidence

Anchoring

Motivated Reasoning

Availibility

Evaluation Apprehension (fear of judgment)

Cognitive narrowing

Reflect

• Identify if judgement fell to traps/biases

• Learn from mistakes

• Coach others

• Reinforce good judgment

Quadrant 1

High Importance / High Complexity

Quadrant 2

High Importance / Low Complexity

(quick reference to framework)

Client interaction w/ clear objectives

QUADRANT 3

Low Importance / Low Complexity

Quadrant 4

Low Importance / High Complexity

Design Thinking (mental Model)

Empathize

Define

Ideate

Prototype

Test

Inversion (mental Model)

Think of what could go wrong

Circle of confidence (mental model)

Know boundaries of competence

Christ centered leadership (mental model)

Stewardship

God

God’s Children

Self

Second Order Thinking (mental model)

What is the chain reaction

(paralysis by analysis)

Spiritual decision making

Judgment, faith, prayer, effort