An updated outline of my theory on how thinking happens in organisations, with some insights into what goes wrong, and what we can do to improve thinking. This version was finalised on 29 May 2019. The update to this version is to include five "Competencies for Thinking" for organisations, instead of focusing on critical thinking. Critical thinking remains the foundation upon which effective thinking is built in organisations. As always, I'm happy to receive constructive criticism and ideas from readers.