Question

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

Solutions

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 1 year ago
Next > < Previous

Related Solutions

Describe two specific and challenging situations that you were able to resolve by applying critical thinking...
Describe two specific and challenging situations that you were able to resolve by applying critical thinking - provide step- by step description with clear examples of what was the problem and what did you do to solve it.
Give two examples of situations in which it may be challenging to classify costs. Critically evaluate...
Give two examples of situations in which it may be challenging to classify costs. Critically evaluate the role that Activity-Based Costing can play in cost classification.?
3. Give two examples of situations in which it may be challenging to classify costs. Critically...
3. Give two examples of situations in which it may be challenging to classify costs. Critically evaluate the role that Activity-Based Costing can play in cost classification.
When performing tax research, you may come across a vague answer that does not fit your...
When performing tax research, you may come across a vague answer that does not fit your client’s facts. If any of the Internal Revenue Code sections do not provide an answer, where would you turn for additional resources? How often should we reference the committee reports to see what was discussed on the congressional floor? Give an example of when you would (or did) use additional resources to find the answer for a client’s unique situation.
When performing tax research, you may come across a vague answer that does not fit your...
When performing tax research, you may come across a vague answer that does not fit your client’s facts. If the code sections do not provide an answer, where would you turn for additional resources? How often should we reference the committee reports to see what was discussed on the congressional floor? Give an example of when you would (or did) use additional resources to find the answer for a client’s unique situation.
Describe a time when you have experienced or observed conflict in the workplace. Then, discuss the...
Describe a time when you have experienced or observed conflict in the workplace. Then, discuss the reason the conflict existed, whether the conflict was functional or dysfunctional, and how it was resolved? What was the outcome? support your reason using relevant information?
List and describe five potential strategies for conflict resolution in teams. Which methods have been found...
List and describe five potential strategies for conflict resolution in teams. Which methods have been found to be most effective in teams? Which method is likely to be most successful if your management likes to be involved in every decision? Give any personal examples you can share.
5.1) Define elder abuse and the possible different forms of elder abuse you may come across...
5.1) Define elder abuse and the possible different forms of elder abuse you may come across in your nursing career (in 50-70 words)
Describe two situations in which you would use a list; two situations in which you would...
Describe two situations in which you would use a list; two situations in which you would use a tuple, and two situations in which you would use a dictionary. Also do some research to learn about data structure sets, describe when and how to use sets.
In your course readings you would have come across a list of eight sectors of the...
In your course readings you would have come across a list of eight sectors of the tourism industry. List them and beside each one, explain the challenge you feel will be the hardest for that sector to overcome.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT