The effect of critical thinking on making the right decisions in the new venture process

Yaldız, Naz and Bailey, Mark (2019) The effect of critical thinking on making the right decisions in the new venture process. Procedia Computer Science, 158. pp. 281-286. ISSN 1877-0509

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Abstract

The design of a new venture is similar to the engineering design process. With systematic approaches, it is possible to increase foresight and reduce the complexity of the engineering design process. On the other hand, in new venture design, self-efficacy must be maintained to increase resistance to challenging situations by an entrepreneur. Decision making is compelling and risky in both engineering and new venture design processes. During the logical inferences, psychology, unconscious and environmental impacts will affect the decisions made. However, critical thinking has a significant effect on making the right decisions. Self-efficacy and creative confidence are beneficial in making the right decisions and maintaining new venture design processes. In this paper, a critical thinking approach to engineering product development and design processes, applied by Anlam TasarIm Atölyesi, will be explained. The paper will also seek to answer the question, 'How can the right decisions be made by protecting self-efficacy in the face of criticism?' Additionally, the paper will emphasise the relationship between critical thinking, self-efficacy and creative confidence.

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