Critical Thinking Part 4: Identify the Best Solution

The end product of critical thinking should be a well-reasoned, well-informed decision. Even when we have all the information we need, and have accurately analyzed and evaluated it, we still might come to wrong conclusions. One of the inhibitors to innovative/creative thinking is the tendency to take the “first right answer” when there may be […]

Critical Thinking Part 3: Accurately Evaluate the Information

There is an old joke about a biologist who trained a frog to jump on command. He then started an experiment by surgically removing one of the frog’s limbs, and comparing the length of the frog’s jump to the length of the jump before surgery. He proceeded to remove the other limbs, recording the length […]

Critical Thinking Part 2: Gather Necessary, Relevant & Accurate Information

Two of the most common mistakes people make in trying to think critically are: Not taking the time to gather all the information required for a well-reasoned decision. Taking too much time gathering more information than required, becoming inundated with useless data that bogs down the analysis. Thinking critically requires withholding judgment until you have […]

Critical Thinking Part 1: Identifying the Real Issue/Objective

A few years ago, the CEO of an asset management company called the office from the road, asking to talk to one of his subordinates. His subordinate’s assistant put him on hold, and after a few minutes, came back on the line to say she didn’t know where the subordinate was. The next day, the […]

Critical Thinking Ranked as a Top Competency for Success

You are managing a property and it is not meeting the owner’s goal for annual return on investment, what do you do? Cut expenses? If so, which ones? Spend more money on a new marketing campaign to reduce vacancies? Try to find ancillary income opportunities, and which ones? Hold off on capital expenditures, like replacing […]