Group decision making has many business benefits. Because of these advantages, it is fast becoming a standard business decision making method.
Business leaders are choosing to make group decisions, instead of authoritative decisions, as the group decision making benfits far outweigh any issues it may cause.
FIVE Group Decision Making Benefits:
1. Tap into a larger information and knowledgebase.
Team members have different specialties, and can provide specialty information on particular subjects. Involving them in the decision making process means better insights before making a decision.
2. Simplify Complex Decisions.
The diversity of people engaged in the decision making process, means more complex decisions can be made by getting varied and alternative feedback and ideas. What seems like a good decision for one department may not be the same for another department.
3. Greater Acceptance & Buy-in.
Since more people are involved and engaged in the decision making process, getting buy-in and acceptance is much easier as influencers and decision makers are involved in the entire process.
4. Greater Accountability.
Group decision making drives people to be more accountable and responsible for their areas of responsibility in the decision making process. Group decision making creates a collaborative, team-based environment.
5. Reduce Decision Risk.
Having peers review decisions before they are made, not only provides more support for the decision making process. It reduces the risk of making a bad decision. Experts in their field can review proposed decision and provide the right feedback needed to make good business decisions.