A statement by Michael Scriven & Richard Paul, presented at the 8th Annual International Conference on Critical Thinking and Education Reform, Summer 1987. Critical thinking is the intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. In its exemplary form, it is based on universal intellectual values that transcend subject matter divisions: clarity, accuracy, precision, consistency, relevance, sound evidence, good reasons, depth, breadth, and fairnes. It entails the examination of those structures or elements of thought implicit in all reasoning: purpose, problem, or question-at-issue; assumptions; concepts; empirical grounding; reasoning leading to conclusions; implications and consequences; objections from alternative viewpoints; and frame of reference. Critical thinking — in being responsive to variable subject matter, issues, and purposes — is incorporated in a family of interwoven modes of thinking, among them: scientific thinking, mathematical thinking, historical thinking, anthropological thinking, economic thinking, moral thinking, and philosophical thinking. you are therefore required to online the benefits of the virtue in line of business and its relevance to business management.

In your own words, answer this unit's discussion questions in a main post (recommended minimum 300 words), and respond to at least two peers’ postings (recommended minimum 75 words).After you have reviewed the Assignment Details below, click the Discussion Board link under the My Work heading above to open the Discussion Board and make your post.Assignment DetailsEfficient and effective use of limited resources is the key to success in today’s economy. Assisting in the budget planning process is a major task for managerial accountants.All organizations have limited resources, but whom in the organization should be involved in the budgeting process?Discuss the pros and cons of the two basic philosophies that organizations should follow to plan and develop their budgets.Responses to PeersRead through your peers’ posts, and respond to a minimum of 2 of your peers. You can connect to your peers in several ways, including the following:Discuss the benefits of the budgeting processDiscuss the potential risks of overly aggressive budget goalsDiscuss how budgets could improve the effectiveness of an organizationIn your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.For assistance with your assignment, please use your text, Web resources, and all course materials.Discussion Board Reminders: Must have three posts: A main post and two replies to peers.First post: Either your main post or a reply to others must be posted before midnight CT (Central time) on Friday of each week.Second and third post: Must be posted on a different day from the first post.Connect to content: At least one post must refer to course learning materials. See the Academic Resource on Discussion Boards for help with connecting to the content.Engaging in class discussions: For more information on making the most of your class dialog, review the Academic Resource on Discussion Boards. Grading RubricAssignment CriteriaProficient DescriptorPointsQuality of Main Post16 Points TotalStudent’s main post meets or exceeds the following requirements:Responds completely to all of parts of discussion question (4 points)Communicates content information accurately and/or logically (4 points)Delivers a thoughtful response demonstrating insights and reflections (4 points)Connects to both key content concepts and personal experiences (4 points)/16 pts.Response to Peers16 PointsTotalResponds to a minimum of two peers (8 points per response)Substantive response (4 points)Furthers the conversation with peers. Examples could include (4 points):Provides additional resourcesConnects to key conceptsShares personal or professional experiencesContributes new information or perspectivePresents a competing viewpoint/16 pts.Support from Learning Resources4 PointsTotalAt least one post refers to course learning resources./4 pts.Professional Writing4 pointsResponse is well-organized, clear, and free of grammatical and mechanical errors.Posts demonstrate courtesy and respect for others./4 pts.Total40 points possible/40 pts.