CRITICAL THINKING

MEMO – 3
Bay of Pigs fiasco
Aman Chowdhury(MBA22190)
Chandina Naveen Kumar(MBA22203)
Shailesh Tirkey(MBA22240)
Ishika Agrawal(MBA2214)
Vemuri Venkata Sai Siddhartha(MBA22279)
Shivam Verma(MBA22242)

Startups in India as in many other parts of the world, have received increased attention in recent
years. Their numbers are on the rise and they are now being widely recognised as important
engines for growth and jobs generation. Wishful thinking can’t be separated from reality today as
everyone wants to achieve more and more in their life. All want their wishes to become reality.
Especially in the startup world , founders want their company to be successful and for that they
have wishful thinking. But , it shouldn’t be such that one starts neglecting the reality . Optimism
is very necessary in life . Optimism is required for positive results . Wishful thinking can lead to
failure if your’e an entrepreneur. The wishful thinker avoids data or cherry-picks it. To prevent
wishful thinking leading us to commercial disaster we obviously need to understand it and the drivers
and biases that may be causing it, so that we can know how to counteract it. wishful thinking stands
for “believing in something because of a desire for it to be true.” This is a belief that ignores fact and,
instead, relies on a premise that a desired conclusion will manifest. For entrepreneurs, “wishful
thinking” is a bias toward a certain solution which leads to the overestimation of the evidence
supporting that solution. It can also result in an underestimation of evidence that supports solutions
other than the original desired solution. Entrepreneurs should keep this type of fervor away from
the well-reasoned critical thinking that is necessary for success. They need to be able to recognize
the ever-changing obstacles that can affect their fledgling idea or business. They need to view the
myriad data available in an impartial manner so as to reinforce the validity of their current approach.
They must be crystal clear so that when challenges arise, they can apply unbiased problem-solving
techniques. They should also be willing to admit defeat and sometimes make radical decisions in
order to survive. If one focuses on wishful thinking, one will rarely get past the stage of recognizing
that a problem even exists.