What are the advantages and disadvantages of individual work?(contrast with team working)?

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It depends on what kind of work you are referring to. There are some kinds of creative people e.g. writers, poets, artists, musicians, research scientists, mathematicians... who prefer to be on their own to create their work. There are others however who may benefit from discussion with others to spark off ideas. Team vs individual working will also depend, at least to some extent, on personality. Introverts may prefer to work on their own and concentrate well without distractions caused by others. Extraverts may prefer to work in teams or other kinds of groups. With a fairly boring, repetitive job e.g. in a packing factory, it may be that having others around doing the same or similar job can increase the rate of work - see 'coaction' effect for some studies on this. Working in a team can help to generate ideas, refine them, add different viewpoints...etc. Team working usually requires a clear focus though what this is will depend on the type of work being done. Solving problems and ... more
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