Individual Decision Making - Pros and Cons
Individuals have a tendency to think and question before performing. This is fruitful in analysis and forecasting of individuals behaviour. Individual decision making has certain pros and cons, few of which are mentioned below:
Pros of Individual Decision Making
- An individual generally makes prompt decisions. While a group is dominated by various people, making decision-making very time consuming. Moreover assembling group members consumes lot of time.
- Individuals do not escape responsibilities. They are accountable for their acts and performance. While in a group it is not easy to hold any one person accountable for a wrong decision.
- Individual decision making saves time, money and energy as individuals make prompt and logical decisions generally. While group decision making involves lot of time, money and energy.
- Individual decisions are more focused and rational as compared to group.
Cons of Individual Decision Making
- A group has potential of collecting more and full information compared to an individual while making decisions.
- An individual while making any decision uses his own intuition and views. While a group has many members, so many views and many approaches and hence better decision making.
- A group discovers hidden talent and core competency of employees of an organization.
- An individual will not take into consideration every members interest. While a group will take into account interest of all members of an organization.
Management Study Guide (MSG) is an educational portal launched with the vision of providing students and corporate workforces worldwide with access to rich, easy to understand, frequently updated instruction on many management related topics.
MSG team comprises experienced faculty and professionals who develop the content for the portal. We collectively refer to our team as - MSG Experts. To Know more, click on About Us.
Learn management concepts & Skills rapidly with easy to understand, richly illustrated learning modules
- Optimum lively Graphics and Animation to make the concept easy to understand
- Enter Your Email Id & Download 8 FREE Powerpoint Presentations Now!