COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As compared to individual decision making, group decision making is preferable because of ____
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conformity pressures associated with groups
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the domination of one or a few members of a group
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the ambiguous responsibility associated with group decisions
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the increased diversity of views in groups
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the time involved in arriving at group decisions
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -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.
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