Six Thinking Hats.

Do you fed up with boring time consuming meetings ultimately with no effective decisions? Also you need to improve your own thinking with a broad vision, not affected by ego? If your answer is yes; The six thinking hats is the ideal tool for you.
Six thinking hats is a time tested, proven and practical thinking method. It is a simple mental metaphor to remember the direction of thinking. Early in the 1980s Dr. Edward de Bono; a medical doctor and a psychologist, invented the Six Thinking Hats method.
We will see how we can use it in a group meeting. But remember, it can be effectively use in individual thinking also. There are six, easily memorable, hypothetical hats and the thinker can put on or take off one of these hats to indicate the type of thinking being used. When done in a group, everybody wear the same colour hats at a time.
Lets start from White hat: This covers facts, figures, information needs and gaps. “I think we need some white hat thinking at this point...” means Let's look at the data side. “How many members will come for the annual trip?” “Who will not come?” “How much will it be cost?” Mnemonic is white color papers, half sheets: So the white hat.
Red hat: It is about emotion, feeling and intuition. It does not need any logical reasoning. Jest say what you feel. "Putting on my red hat, I think this is a terrible proposal." “I think it is better to go up country.” The mnemonic is heart.
Black hat: This is the hat of judgment and caution. It is logical negative side. “Because of rainy season, going up country is dangerous.” “What will happen if most members give up at the last movement?” In normal thinking this hat is often over use. Mnemonic is lawyers court.
Yellow hat: This is the opposite of black hat. It see the logical positive side. Why is that idea useful. “If it rains it will be more fun. Then we can see more & more waterfalls.” Mnemonic is sun.
Green hat: This is for creativity, new ideas, alternatives and possibilities. “How about if we hire a double Decker for our trip. Then all will come with their children.” Mnemonic is vegetation, growing.
Blue hat: This is the hat for look at the thinking process. It is about management, objectives, goals and outcome. It is the starting and ending hat. At the end, look down from up “Now we look about various aspects. What is the conclusion?” Or “We may need some green hat thinking.” Mnemonic is blue sky.

The advantages of the Six Thinking Hats are:
It encourages Parallel Thinking – In traditional meetings one person think in one direction and others are thinking in opposite directions. The end result is an argument. Ultimately after long time, they come to a conclusion which everyone can agree. In six thinking hats, without clashing with arguments all are thinking in the same direction at a point.
Encourage full-spectrum thinking – It prevents tunnel vision.
Separate ego from performance.
Learning to ride a bicycle at the beginning is difficult. But after learn, he can go very fast using his own energy than a walking man. Then he get his balance automatically. Same way after mastering six thinking hats, your mind automatically rotate on six hats. And you will become a marvelous thinker.

See this link in youtube Dr. de Bono explained it nicely in 6 * ten minute lectures. The actual lecture start from 55 seconds. If you interested see the other five videos also.
Dr. de Bono explained it nicely on youtube
See this link to see the companies using Six thinking hats.
Companies using Six thinking hats.
This is also a good source.
Learning_Guide:Six Thinking Hats