This week took me to 3 different cities in 5 days delivering 4 Business Acumen training sessions live and in-person while also delivering 6 virtual sessions when I wasn’t in front of a classroom. A busy week to say the least!
In meeting with and delivering Business Acumen training to more than 2,000 people, I was sensitive to some of the issues and challenges leaders feel they are facing as they start preparing for 2025. Sifting through my notes and thoughts, one specific skill keeps coming up over and over as something leaders are searching for; “Critical Thinking.”
But it’s not Critical Thinking circa 2019. Everything has changed in business and the way people work – which hopefully means the way they are delivering their company’s value proposition to their customers – and the skill of Critical Thinking as we look forward to the next 5 to 10 years is going to have to be very different.
I took some time to roundtable and explore what thought leaders are thinking Critical Thinking is in 2025 and beyond and I am happy to share some of the thoughts and insights.
Here are 5 things that need to be developed to have better Critical Thinking:
Using Systems Thinking to Have a Business Enterprise Mindset
This was by far the most common and critically needed skill. This skill involves understanding how different parts of a business system interact and influence each other. Strategic business thinkers will need to analyze interdependencies across global, economic, social, and technological domains. Recognizing the impact effects and anticipating unintended consequences will be essential for sustainable business decision-making.
Financial Literacy and Analytical Agility
Everyone who works for a business needs to have foundational financial literacy and the ability to use that skill to look at information to make decisions. As data-driven insights become increasingly central to strategy, leaders must understand and interpret data effectively. Beyond reading reports, strategic thinkers need to spot patterns, translate data into actionable insights, and pivot quickly when new data or trends emerge.
Scenario Planning and Versatility
Versatility in thinking is crucial in a rapidly changing business environment. The ability to think ahead and understand the potential impacts of scenarios is going to be a critical skill. Scenario planning helps leaders and contributors prepare strategies based on different potential futures. This is very important in times of uncertainty, and something tells me the next 4 years will bring tremendous volatility and uncertainty. Strategic thinkers will be able to adjust quickly to new information, brainstorming short- and long-term solutions, and acting quickly.
Innovation Mindset with Ethical Guideposts
Strategic thinkers will need to develop a culture of innovation while keeping ethical considerations front and center. Balancing creativity with a forward-looking approach that assesses ethical implications (e.g., AI, the environment, CO2 emissions, food uncertainty and new types of energy) will ensure strategies are both progressive and responsible.
Stakeholder Empathy, Consideration, and Communications
Coming out of the COVID pandemic, we are seeing a new generation of employee who is unaccustomed to socializing in person with other humans. Understanding and addressing the needs and motivations of diverse stakeholders, from customers to other employees and investors, is going to be a very important critical thinking skills. Empathy will allow strategic thinkers to align goals with stakeholder values, fostering stronger relationships and trust. Communicating effectively, both in vision and strategy, will help in uniting teams around common objectives.
In summary, expectations of results are going to be high. The economy is healthy and the new Administration is going to make an even healthier economy a top priority. Business leaders and decision-makers have a unique window to take advantage of the opportunities that will present themselves and Critical Thinking skills will be one of the ways to achieve success.