Briefly describe three benefits (process gains) derived from working in groups
What will be an ideal response?
• It provides learning. Groups are better than individuals at understanding problems.
• People readily take ownership of problems and their solutions. They take responsibility.
• Group members have their egos embedded in the decision, so they are committed to the solution.
• Groups are better than individuals at catching errors.
• A group has more information (i.e., knowledge) than any one member. Group members can combine their knowledge to create new knowledge. More and more creative alternatives for problem solving can be generated, and better solutions can be derived (e.g., through stimulation).
• A group may produce synergy during problem solving. The effectiveness and/or quality of group work can be greater than the sum of what is produced by independent individuals.
• Working in a group may stimulate the creativity of the participants and the process.
• A group may have better and more precise communication working together.
• Risk propensity is balanced. Groups moderate high-risk takers and encourage conservatives.
You might also like to view...
Essentially, the entire statement of financial position is inverted compared to what is commonly seen in the United States
a. True b. False Indicate whether the statement is true or false
Purchases of buildings and equipment are formally planned in the
a. depreciation budget. b. budgeted balance sheet. c. selling and administrative expense budget. d. capital expenditures budget.
Lincoln Company engaged in this transaction: Issued common stock for cash. Indicate which section, if any, the above transaction would appear in, or relate to, on a statement of cash flows
A) Operating activities section. B) Does not represent a cash flow. C) Investing activities section. D) Financing activities section.
Explain the four ways in which a service is distinguished from a good
What will be an ideal response?