Marketing Assignment: Ability To Think Critically

Competence

Explanation

Ability to think critically

Ever entrepreneur should have the ability to think strategically. Strategic thinking is essential in every manager as it ensures the development of policies and goals. When developing goals, the manager has to come up with a plan on how they are going to be achieved. Strategic thinking gives the entrepreneur an added advantage when it comes to creating goals. The same come when creating policies to be used by the employees (Anastasi 13-17). The success of any organization highly depends on the policies that are developed by the management. The policies direct the workers on how to operate and draws the line between right and wrong. A good entrepreneur should always make sure that they always concern themselves with leading the people, planning and visionary activities. Visionary activities are essential for any manager because they help with planning for the future. As the common saying goes failing to plan is planning to fail. A leader that does not possess creative thinking can lead to the downfall of an organization. The employees always look up to the leadership for direction, and the failure to possess these skills can lead to confusion among the workers (Kajitani 28-43,103). There are several ways in which a director can improve critical one is by offering a drop box where people can drop off their thoughts and criticism of leadership anonymously. As the saying goes two heads are better than one, the thoughts dropped in the box can be fundamental towards creative thinking. Another method is ensuring that the manager thinks one notch higher than other individuals in the company. Another way that one can enhance strategic thinking is through seeking mentorship from a role model. This is one of the oldest tricks in the book where people seek further information from others who have more and advanced experience (Carbone 64-72).

Wide understanding and awareness of the business

Before venturing into any business/industry, it is advisable to conduct an extensive research of the industry. This is very important since it gives one an opportunity to learn the trend in the market and whether the business will be successful. It is also essential because it helps one access the challenges in the market. When conducting research one gains knowledge of potential customers and know their weaknesses and strengths. Knowing the advantages that the competitors have over a business is crucial. With a wide understanding of the market, a firm can be able to enter the market having known all the competitive advantages it can apply to beat competitors. A good entrepreneur should also ensure that they are familiar with what is going on in the market ("Technology Entrepreneurship And Policy: In Memory Of Bruce A. Kirchhoff" 347-348). This is advantageous in strategic decision making in that it gives the manager the upper hand over the competitors. Failure to understand what is happening in the market can lead to the initiation of non-productive projects or the making of decisions that will negatively impact the business. If the manager does not have extensive knowledge of the market, he/she can end up misleading the employees leading to the destruction of the organiza...