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“The unexamined life is not worth living” (Socrates). That is, without critically inquiring into the knowledge of life which is well-being and valuable, life is not worth living. Critical thinking questions existing theories and their unexamined and obsessive assumptions and generalizations, constraints, and “best” practices of the prevailing system of management and tries to replace them with more valid assumptions and generalizations that uphold the dignity, uniqueness, and inalienable rights of the individual person and the community. Better outcomes result from asking the right questions than from having the right answers. In the diverse, pluralist cultural environment of today, the promise of a truly generative dialog among Occidental (Western) and Oriental (Eastern) cultures and civilizations holds great hope for the future. Critical thinking (CT) is an “inclusive” thinking system that can facilitate this dialog such that all of us have a meaningful space and place in this universe. After defining CT and arguing its importance for executives, this chapter introduces CT in two parts: Part 1: Various Approaches to Critical Thinking; Part 2: Major Theories of Critical Thinking. Several contemporary business cases will be invoked to illustrate the need, nature, and scope of corporate CT.

More than at any other period in human history, humankind is currently at the crossroads of war or peace, growth or decline, progress or regress, life or death, and hell or heaven. We cannot leave these opposite polarities and possibilities to politicians and bureaucrats, to chance and expediency. These are expressions of turbulent markets. We must design and invent, plan and predict, and monitor and control our future and that of our posterity. In this regard, the concept of human personhood cum human dignity and responsibility is a fundamental part of this new self-understanding and undertaking. Ethics and morality are critical components on this creative journey to destiny. Corporate ethics, in particular, requires the development of a clear understanding of the existential situation of turbulent markets – that is, the relationship between executive autonomy and freedom, between human creativity and innovation, and between human culture and corporate social responsibility. Other critical concepts such as accountability and moral responsibility, the ethics of rights and duties, the executive virtue of moral and ethical reasoning, the building of trusting and caring relationships, and the like will be discussed in subsequent chapters.