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In: Economics

You may come across challenging situations even when you have a conflict- resolution plan. Describe two...

You may come across challenging situations even when you have a conflict- resolution plan. Describe two types of challenges

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Expert Solution

Introduction:-

Most companies tend to have intensive plans and strategies which they tend to follow when conflicts arise within the organization or beyond.

Economically speaking, these plans are necessary to allow for the firm to function without added costs of operations and to ensure that production levels can be kept at optimum levels and profits can be maximized.

A conflict resolution plan may be a good way in which companies can implement strategies which can help them minimize risks, however they are subject to problems & challenges because of which they may become ineffective.

Case Specifics:-

The following are the types of challenges which may affect an organization even when they have a conflict resolution plan:-

  • 1) Dynamism:-

Even when some companies create the best of resolution plans, they still tend to fail because of the dynamic and ever changing nature of problems which may emerge. Such nature or characteristic of problems renders the cost spend on creating the very plan ineffective.

Markets are rapidly faced with changes in tastes and preferences which prevent resolution plans from being effective strategies.

For example: - A spike in overall demand for the product may arise as a conflict for a firm for which it may engage in increasing production techniques. However the very next month it could be facing a challenge in which the tastes and preferences of the consumer changed because of

2) Cost Effectiveness:-

At some critical times, it has been observed, that companies tend to overspend money on creating well documented conflict resolution plans. While in reality these problems may never incur or may require real time customization because their nature is dynamic as explained above. Thus this type of problem arises when the money spent on devising plans tend to be higher than the benefits of such resolution at the first place.

Thus two major types of challenges which may happen even when a conflict resolution plan is in place is dynamism and cost effectiveness.

Please feel free to ask your doubts in the comments section if any.

Rahul Sunny answered 8 months ago
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