To rename a group that shows up in the dropdown list for a particular group type, for example, a location or a business unit:

1. In the Control Panel, click User & Groups, Groups.
   
   
   
2. To filter the list of groups to only show groups with a particular group type, on the Groups page, in the Filter by Group Type field choose the group type. 
   The list automatically updates to only display groups belonging to the group type that you specified.
3. On the line of the group that you want to rename, click Settings. 
   
   
4.  In the Group Settings, enter the new name for the group, and then click Save.