What is the diferences between individual and group business
Answers
a business that illegally
Individual Bussiness:
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 lots of time.
Individuals do not escape responsibilities. They are accountable for their acts and performance.
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 usually make prompt and logical decisions, says Juneja, while group decision-making involves lot of time, money and energy.
Group bussiness:
A group has the potential to collect more complete information, compared to an individual, while making decisions.
An individual uses his own intuition and views. A group has many members, so its many views and many approaches result in better decision-making.
A group discovers the hidden talent and core competency of employees of an organization.
An individual will not take into consideration every member's interest, while a group will take into account interest of all members of an organization.
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