Critical Thinking Competence and its Impact on Acquisition of Basic Principles of Enterpreneurship Among Business Students in Latvia

Critical thinking is mental process of analysis and evaluation of information. The source of information can be experience, reflection, observation, communication, etc., as well as study process. Business education is based on the ability to navigate the market situation and make informed decisions. The aim of the research is to determine correlation between business students information processing skills according to certain criteria and students’ self-evaluation of their information processing skills. Based on this, the authors of the investigation study the theoretical basis of critical thinking with the monographic or descriptive method, with the help of a questionnaire assess students' ability to critically evaluate the situation and make decisions based on it. This study will provide an understanding the need for critical thinking and its development in the process of business education. Two research questions are put forward: (1) What is the self-assessment of critical thinking skills by the business students? (2) What are the differences between the self-assessment and the assessment according to the proposed criteria? In the result, the authors conclude that by studying the importance of critical thinking in educating business students, it is possible to increase market understanding and decision-making competence for students. Critical thinking is the skills of business students to start a successful business.