- Published: November 19, 2022
- Updated: November 19, 2022
- Level: Masters
- Language: English
- Downloads: 28
Rational thinking in Business Introduction Thinking processes can be ified into two based on the nature of thinking; rational and irrational. Rational thinking always supported with reasons or rational behind each thoughts and ideas whereas irrational thinking is controlled by emotions or prejudices. Calculation and planning are the essential parts of rational thinking. A person who thinks rationally will never consider his personal opinions or emotions while taking rational decisions. He will conclude things based on evidences and logical reasoning methods. Rational thinking is the core of every business. No business can exist long in the market using irrational methods or thoughts. This paper explains the importance of rational thinking in business.
Rational thinking in business
“ A thought, belief or attitude is rational to the extent that it satisfies five criteria: It is consistent with the facts or the objective reality; It helps preserve ones life and health; It helps one achieve ones short and long-term goals; It helps one avoid unwanted conflict; It helps one feel the way one wants to feel” (Alexander) In business objectives are important. Every action in a business setup is done for obtaining certain business objectives. These objectives are achievable only if the actions were supported with facts and logics. For example it is not possible for a construction business group to invest heavily at present because of the economic recession going on. The fact that people are reluctant nowadays in spending more on real estate sector is the rational or fact behind such thoughts. On the other hand the same business group can think about heavy investment once they see evidences of improvement in economic situations for achieving their long term goals.
“ Healthy rational thinking requires; an adequate attention span, patience and the ability to focus, to observe, interpret, perceive and consequently develop logic” (Yahya). In business, the ability to observe and focus is important in perceiving and interpreting the problems correctly. The correct interpretation of the problem is important in finding out correct solutions. For example, a business executive who wrongly interpret the market, based on rumours and opinions of others may fail to take sound and healthy decisions in favour of the organization.
Rational thinking is the most common problem solving methods in business. For example in a business organization, the manager has to judge the performances of the workers based on their capacities or abilities. A rationally thinking manager will take actions against an underperforming worker only if he was sure that the employee is performing below his abilities. On the other hand a manager who thinks irrationally will never consider the ability factor of the employee and will take actions against such an employee based on his emotions rather than the capacity of the employee.
Rational thinking is an essential part of our daily life and business is also not an exception. Only those people who think rationally will be effective in businesses. Irrational thinking is always motivated by opinions and emotions which will never be suited to a business.
1. Alexander, Robin. 2009. “ Evaluating Your Thinking: Definition of ” Rational””. 16 September 2009. 2. Yahya, Hasan, Ph. D. 2009. “ Rational Thinking in Research”. 16 September 2009.
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