This is the area of judgement: how we make decisions and choices as well as judgements of others. Critical thinking analyses each stage of decision-making taking account of all the factors relevant in the way decisions are made and the thinking that is involved in the process.
Critical thinking is vital in such situations as ethics meetings in the hospital, where life and death decisions must be made in association with a group concerned. Also, in legal situations where not just established law but the stages of decision-making will affect the outcome of a case.
Disciplined thinking and judgment
Critical thinking does involve higher-level thinking skills, but that's not what defines critical thinking. Finding faults and weaknesses might be done by someone thinking critically. Logically analyzing arguments in a critical way is begging the question of what exactly is critical thinking. The best answer is that critical thinking is first and foremost disciplined thinking.