ECONOMICS

Detailed explanation-1: -Nominal (meaning in name only) group technique (NGT) is a structured variation of a small-group discussion to reach consensus. NGT gathers information by asking individuals to respond to questions posed by a moderator, and then asking participants to prioritize the ideas or suggestions of all group members.

Detailed explanation-2: -A perfect example of a nominal group technique is that of a director of a project finding solutions to improve an organization’s performance. The director meets with staff members and explains what the meeting is about.

Detailed explanation-3: -With the Delphi Technique, you gain insight into each other’s individual ideas and later, in the second session, you can delve into those and further build upon those. Whereas a brainstorming session is known for interactive group meetings, the Delphi Method involves individually thinking about the problem.

Detailed explanation-4: -The Nominal Group Technique (NGT) is designed to promote group participation in the decision-making process. The Nominal Group Technique can be used by small groups to reach consensus on the identification of key problems or in the development of solutions that can be tested using rapid-change cycles.