Group and Individual Decision Making

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Most of the important decisions happen to be done in groups. Management teams tend to discuss their investments similarly to families consulting their members before buying a new car. Individual and group decision-making processes differ by nature and each of them has its own benefits. This paper looks deeper at the possible advantages and disadvantages of these two and sums up the information. It concludes that generally, group decisions are "better" than individual, but it still depends on a particular situation. Therefore both processes are important and have their own benefits. In the end, Categorical list of references in the field is created in order to assist further research.