In decision making, individuals and groups use different criteria, to determine the final decision making, being a fundamental activity in business management. If the decision involves a single individual, the process is expected to take shorter time and less resource…
In group decision making, all team members have a right to express their sentiments. If any group member is denied the chance to participate in the decision making, the decision can be disputed. In the individual decision making, only one individual does the analysis of the work involved and makes the undisputable decision. This is the only effective in certain business types such as sole proprietor businesses.
Group decisions consume more time than individual decision makings. In the individual case, the decision can be made at any instant, and in urgent situations. Decision making in a group must follow certain guiding principles including deadlines, regulatory compliance frameworks and bureaucracy.
Business ethics provides the acceptable ethical guiding principles and behaviors of employees acceptable to the organization. It consumes more time to pass strong decision in line with business ethics, which again change with time. Individual decision making has no specific standard as the individual is in full control of the business (Kahneman & Tversky 2000, p. 53). Because each member of the team has a level of ethical, the operations of the individual changes once he or she begins working in the organization. Companies make use of the mission statements to establish and enforce the framework. Individual decision making does not apply any mission standard ethical decisions of the group.
Both individual and group decision making are guided by standard a level of procedural and structural regulations (Batley & Daly 2006, p. 59). Businesses use standard operational procedures in daily decision making, though a decision matrix. There are decisions that have to be made at specific levels depending on the discretion of a leader. In the same way, an individual applies work place rules by deciding on the management of responsibilities in various business situations.
None of the two decision methods is perfect. Errors can occur at any time since the ...
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(Individual Versus Group Decision-Making Processes Essay)
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