PickList Generic-PickList Hierarchical Business components

Briefly explain the difference between the PickList Generic and PickList Hierarchical Business components?

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The PickList Generic Business components are mainly used for the Static Picklists. Whereas the PickList Hierarchical is mainly used for the Hierarchical PickLists.

PickList Generic business components and PickList Hierarchical Business components are both used for the Static PickLists.

PickList Generic is used to store the values that are not dependant on any other values. While PickList Hierarchical is mainly used to choose values based on the values chosen from other field.

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