Critical formula to deal with those problems. These are:

                      Critical thinking refers to the inability to attach emotions to an issue and have the ability to observe facts in a business objectively to make a formal decision. It helps employees gather all the information needed to analyze a certain situation, generate excellent solutions, to a problem and obtain feedback from all the people involved in that situation.According to Judy Chartrand book (2013), “Critical Thinking Means Business”, people who are critical thinkers must possess the following skills:·         Good problem solving skills·         Good judgment and decision making skills·         Good overall performance·         Ability to evaluate the quality of the information presented·         Better creativity ·         Job knowledge·         Potential to make up within the organization            Process involved in formulating a business problemManaging a business is all about problem solving. A good entrepreneur knows how to meet its customer’s needs effectively.

Problems are day to day stuff, whether in a business or a personal environment. Brian Tracy in his book “The Power of Self-Discipline” provides a formula to deal with those problems. These are:1.      Take your time to define the problem clearly- a small problem can become a big one if handled inappropriately.2.      Pursue alternate paths on “facts of life” and opportunities-there are some stuff which can be a hidden opportunity not a problem.

3.      Challenge the definition from all angles-Define the problem in many ways you can. For instance, poor sales may mean poor advertising or strong competitors.4.

      Question the problem cause-get to the root of the problem before it saves you a lot of time.   5.      Identify multiple solutions possible-you might end up with right solution as you continue to develop more solutions.

6.      Prioritize potential solutions7.      Make a decision –select any solution and decide on how to go about it. Taking time on what to do, leads to higher costs and greater impact.

Set a specific deadline and stick to it.8.      Assign responsibility-give the problem to any of your workers so that you will know who carried out the task.9.      Set a measure for the solution- to help you know if the problem was solved                      Critical thinking versus creative thinking Critical thinking Creative thinking It seeks to assess worth of something that already exists It creates something new It is analytical It is generative It is convergent It is divergent It is focused on probability It is focused on possibilities It is attained by applying accepted principles It is attained by disregarding accepted principles                      Roles of personalities in critical thinkingThere is no relationship between critical thinking and personality traits. Critical thinking lies on training method.

                      ConclusionPeople who are critical thinkers are some of the most important and respected people in a business environment. They contribute to a successful business. Therefore, every entrepreneur should strive to let their workers acquire critical thinking skill through training.                        ReferencesAihua tao, Xing Li.Nantong University. ChinaBrian Tracy.

2010.No Excuses! Power of Self-Discipline. Vanguard pressJudy Chartrand, Ph.D.

, Heather Ishikawa, MA Flander.2013.Critical Thinking Means Business.