Critical & Strategic Thinking

• Uncritical thinking involves accepting information without critique, due to an unwillingness or inability to question it
• Fair-mindedness involves treating everyone equally
• Selfish critical thinkers are skilled thinkers, but are unfair to others, demonstrating self-centeredness in their thinking

Strategic Analysis

• It is a process for examining and identifying problems or threats
• It uses rational thinking, conceptualizing with systematic and step-by-step processes

Intuitive Thinking

• Intuitive thinking examines and understands problems without using logical reasoning
• It enhances understanding of reality by breaking it down into components
• It creates solutions without logical reasoning
• It lacks a step-by-step process in planning
• It uses senses to understand a person, thing, or situation
• It involves quick reactions without logical rationale
• Experience enhances this type of thinking

Applying Strategic Analysis

• Strategic analysis includes tool analysis, which uses methods to identify and address threats and problems
• Common tool analyses are SWOT and PEST analyses

Tool Analysis

• It aids in the formulation of strategy

Rational Thinking

• It employs logic when examining a situation

Systematic Thinking

• It follows a step-by-step process to identify problems

Goal Setting

• It defines the purpose of the organization

Strategic Planning

• It clarifies how daily work moves goals forward

SWOT Analysis

• It is a tool to assess strengths, weaknesses i.e. internal factors, opportunities, and threats i.e. external factors to achieve organizational objectives
• Internal factors are the company's strengths and weaknesses
• External factors are outside influences that affect the company's plan

PEST Analysis

• It assesses political, economic, social, and technological factors
• It is used to evaluate external factors influencing an organization's operations and competitiveness

Applying Strategic Analysis - Political Factors

• Political factors include rules, regulations, laws, and politics that affect an organization

Applying Strategic Analysis - Economic Factors

• Economic factors include purchasing power, interest rates, inflation, employment, and unemployment rates

Applying Strategic Analysis - Socio-Cultural Factors

• Socio-cultural factors include people's preferences, needs, demographics, and cultural backgrounds

Applying Strategic Analysis - Technological Factors

• Technological factors include technological innovation and their impacts

Creative Solutions Using Intuitive Thinking

-Intuitive thinking can create solutions without tool analysis with experience, expertise, and social networks

• A social network is a collection of interacting individuals or organizations

Deglobalization

• It is the reduction of interdependence and integration between specific entities globally, typically nation-states

Migration

• It is a permanent change of residence for an individual or group, either within a country or internationally

Labor

• It is the physical, mental, and social effort used to produce goods and services

Democracy

• It is a system of government based on the participation of the people

Economic System

• It includes the production, distribution, and consumption of goods and services, and all employment

Globalization

• It is the acceleration of movements and exchanges of people, goods, services, capital, technologies, and cultural practices worldwide
• It includes the growing interdependence of economies, cultures, and populations through cross-border trade
• Use of cyberspace and technology led to global village
• Labor can be measured through labor force or pool
• To be considered part of the labor force individuals must be eligible, willing and of the right age

Types of Globalization

• Economic, financial, cultural, political, sociological, technological, geographic and ecological globalization

Effects of Globalization

• There is enjoyment of imported products and access to services from foreign companies
• Knowledge is shared through Internet
• Technologies support communication, transportation, education, and finance

Global Networks

• Globalization promotes openness, innovation, and idea exchange.
• It includes the development of the WWW on the internet
• The networks are of individuals, communities, and organizations functioning globally

Types of Labor

• Unskilled, skilled, part-time, contract, slave and professional

Types of Migration

• Permanent, temporary, and forced migration

Challenges Facing Migrant Workers

• Include coercion, lack of benefits, dangerous conditions, cultural differences, and educational issues