Explaining group or team or individual decision making

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Reference no: EM1331216

Most business decisions are made under conditions of either risk or uncertainty. Is it easier to make a decision under risk or uncertainty conditions? Why?

Consider the following list of business decisions. What decision would be handled most effectively by a group or team decision making? Which would be handled more effectively by individual decision making? Explain why?

Switching pencil suppliers
Hiring a new CEO
Firing an employee for stealing
Calling 911 to report a fire in the warehouse
Introduction of a brand new product

Reference no: EM1331216

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