...Understanding Conflict Handling Styles In a dispute, it's often easier to describe how others respond then to how we respond. Each of us has a predominant conflict style that we use to meet our own needs. By examining conflict styles and the consequences of those behaviors, we can gain a better understanding of the impact that our personal conflict style has on other people. With a better understanding, you then can make a conscious choice on how to respond to others in a conflict situation to help reduce work conflict and stress. Behavioral scientists Kenneth Thomas and Ralph Kilmann, who developed the Thomas-Kilmann Conflict Mode Instrument, have identified five styles to responding to conflict—competition, collaboration, compromise, avoidance, and accommodation. No conflict style is inherently right or wrong, but one or more styles could be inappropriate for a given situation and the impact could result in a situation quickly spiraling out of control. 1. Competing Value of own issue/goal: High Value of relationship: Low Goal: I win, you lose People who consistently use a competitive style come across as aggressive, autocratic, confrontational, and intimidating. A competitive style is an attempt to gain power and pressure a change at the other person’s expense. A competitive style of managing conflict can be appropriate when you have to implement an unpopular decision, make a quick decision, the decision is vital in a crisis, or it is important to let others know how...
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...| Followership in cases of conflict of interest. | By: Modupe Blessing Igbafen ABSTRACT An area is usually perceive as basic concerning the piece of followers in definitive ethics is aficionados' responses to dishonest requests by a leader (Carsten & Uhl-Bien, 2007). Followers face moral issues when leaders approach them with wrong requests, for instance, asking for that they take part in practices, which are doubtlessly beguiling. In such circumstances, supporters must settle on a decision: They can choose to stay up to the beguiling sales (e.g., by troublesome the pioneer's request, declining to join in exploitative direct or proposing alternative strategies) or they can oblige the pioneer's allure, largely getting the opportunity to be complicit with the untrustworthy behavior. This decision will apparently be connected with their emotions about follower’s relationship with pioneers, and their particular part. For followers to have the ability to stay up to a pioneer's exploitative sales, they ought not to see their followership part as reserved and obedient. Maybe, they must feel a commitment as a dynamic part in the administration process (Carsten & Uhl-Bien, 2007) INTRODUCTION. The idea of conflict of interest is more important today than any other time in recent memory. Moral sensitivities about the relationship in the middle of experts and those they serve are a wellspring of steady verbal confrontation. This book sets another standard for chip away...
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...provide a positive workplace. This paper will discuss examples of behaviors in the workplace that create conflict, the three channels of communication that influence employee relations and some best practices of conflict management. Behaviors that Indicate the Existence of Conflict among Employees Conflict exists when there is competition between two or more employees or a group of individuals. The first type of behavior to discuss is the interdependent parties. The interdependent behavior exists when one individual can provide a need that the other party wants, for example when one co-worker depends on another co-worker that provides payroll data to complete the monthly report and the other co-worker relies on the data to complete the task by deadline. If all goes well, then no conflict exists. But if one co-worker is late providing the data then conflict will arise. The second behavior style that can cause conflict is Incompatible interest. If two individuals can not agree on something based on different wants, needs, goals, or values this will cause a conflict between the two parties. “A conflict of interest arises in the workplace when an employee has competing interests or loyalties that either are, or potentially can be, at odds with each other. A conflict of interest causes an employee to experience a struggle between diverging interests, points of view, or allegiances” (Goodwin & Griffith, 2007). One example of a...
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...agree that power, unlike authority, should apply only to relationships where there is a conflict of interests?It could be said, that politics is the studyof the locus of power - where power lies, or should lie. This encompasses all the main questions of political theory: Liberty, in to what extent the state should have power over the individual; justice, in looking at in what circumstances power has been used illegitimately; democracy, inthe mechanisms of how state power should be rightly yielded. Even topics such as the communitarian/liberal debate can be seen to boil down to a question of power, in this case, similar to the study of liberty, the balance between individual andcommunity power is at the core of this question.The question above raises a specific point about the actual definition of power, to what extent is the concept of power inherently linked to a 'conflict of interests'. This question requires a close examination of power itself, and the first step in doing this is to look at Steven Lukes' distinction between one-, two-, and three-dimensionalviews of power.In his seminal work, Power: A Radical View, Lukes goes about deriving a definition of power in three stages. The first is the 'one-dimensional' definition of power. This is based on attempts by political scientists such as Dahl to define power in such a way so that it is possible toobserve how power operates in empirical examples. The core of this view of power isthe statement 'A has power over B to the extent that...
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...1. Power and difference b/w power and influence. Ans. According to Robbins and Judge, “Power is a capacity that A has to influence the behavior of B so that B acts in accordance with A’s wishes.”(2015).The most important aspect of the power is that is a function of dependency. The greater the B’s dependence on A, the greater is A’s power in relationship. For example, if you want a college degree and have to pass a certain course to get it, and your current instructor is the only faculty member in the college who teaches that course, he or she has a power over you. Influence: the capacity or power of persons or things to be a compelling force on or produce effects on the actions, behavior, opinions, etc., of others (dictionary.com). 2. What is leadership and how does it differ from management? Ans. Leadership: According to Robbins and Judge,” Leadership is defined as the ability to influence a group toward the achievement of a vision or set of goals.”(2014) the source of this influence may be formal, such as that provided by managerial rank in an organization. But not all leaders are managers, nor are all managers leaders. On the other hand, management is defined as the act or skill of controlling and making decisions about a business, department, sports team, etc.(Robbins &Judge,2014) Difference between leadership and management are: All organizations need strong leadership and strong management for optimal effectiveness. We need leaders to challenge the status...
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...Conflict Theory Conflict theory originated with the work of Karl Marx in the mid 1800. Marx understood human society in terms of conflict between social classes, most notably the conflict in capitalist societies between the Bourgeois; those who owned the means, such as factories or farms, and the proletariat; those who did the work on the factories and on the farms. Even though there are now different versions of conflict theory that has been described, the most common version is that the different social groups or classes have unequal power, though all of them are struggling for the same limited resources. Conflict Theorists assume that social behavior is best understood in terms of conflict or tension between the competing groups or classes. These groups are engaged in a continuous power struggle for control of much needed resources. Marxism is the social theory that emphasizes on the on the notion that society is based on the unequal distribution of power and resources, and by a conflict of interests between the wealthy and the poor. The wealthy using their resources and roles of power to manipulate and maintain the social order. This is best explained a pyramid structure, where the few elite dictate to the large masses of society. Laws and traditions are made or designed to support those in society that have been in power, or the groups that are recognized as superior. Conflict theorists argue that all groups are born from conflict. For example, labor unions, which...
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...Major Ethical Issues in Business An ethical issue is a problem or a situation that requires an individual, group or organization to choose among several actions that must be evaluated as right or wrong, ethical or unethical. The ethical issues in business are in most cases abusive or intimidating behavior. examples are like lying, conflicts of interest, bribery, discrimination and sexual harassment among others. They are each discussed briefly below. 1. Lying Lying can broadly be defined as lack of integrity, incomplete disclosure and unwillingness to tell the truth. There are three types of lying, one of which is joking without malice. The other two types can become very troublesome, for example commission lying and omission lying. The causes of lying are complex and relate to both individual and organizational pressures. Commission lying is when you create a perception or belief by words that intentionally deceive the receiver of the message. For example, lying about being at work, expense reports or carrying out assignments. It involves intentionally creating “noise” within communication that knowingly confuses or deceives the communicator. Lying by commission can also be of complex forms, procedures, contacts, words that are spelled the same but with different meanings or better still refuting the truth by telling a false statement. These forms are very common especially in commercial advertising, where for instance, saying that the product is homemade yet in real sense...
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...Is there a conflict between "doing well" and "doing good"? When there are conflicts, how may government regulations or laws tilt the firm toward doing good? As the text notes, the first step in doing well is doing good by your customers. Businesses cannot prosper for long if they do not provide to their customers the products and services they desire. In addition, reputation effects often make it in the firm's own interest to act ethically toward its business partners and employees since the firm's ability to make deals and to hire skilled labor depends on its reputation for dealing fairly. In some circumstances, when firms have incentives to act in a manner inconsistent with the public interest, taxes or fees can align private and public interests. For example, taxes or fees charged on pollution make it more costly for firms to pollute, thereby affecting the firm's decisions regarding activities that cause pollution. Other "incentives" used by governments to align private interests with public interests include legislation to provide for worker safety and product or consumer safety, building code requirements enforced by local governments, and pollution and gasoline mileage requirements imposed on automobile manufacturers. AACSB: Ethics Blooms: Analysis Difficulty: 2 Medium Learning Objective: 01-06 Explain why value maximization is not inconsistent with ethical behavior. Topic: Understanding the Corporation Is value maximization always ethical? Modern...
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...Preparation Questions for Myers & Majluf Article on Financing and Investing Decisions Tradicional Finance a) If the NPV of the project is positive, the firm should undertake the investment. b) Base in the formula I = E + S we can demonstrate what is the best decision for the company. For that we will make a numerical example. State 1 State 2 Asset-in.place a 150 50 Investment Opportunity (NPV) b 20 10 P' I Debt (D) Lot of cash S E True Value (V) P'+E V V old new = = = 115 150 0 115 150 0 = = = = = 100 50 320 165 100 50 210 165 = 223,03 146,36 96,97 63,64 Little cash S E True value (V) P'+E V V old new = = = = 30 120 320 235 30 120 210 235 = 156,60 102,77 = 163,40 107,23 S↗ S↘ Payoff V in state 1 V in state 2 old old Issue & Invest (E=50) 223,03 146,36 Issue & Invest (E=120) 156,60 102,77 Do nothing (E=0) 150 50 With this example we can easily state that more cash bring more value to the old stockholders and most importantly, to the firm. c) Retained earnings – could avoid to issues stocks (assumption: the firm only uses risk-free borrowing to reduce the required investment and the investors are passive). “Firms should go to bond markets for external capital, but raise equity by retention if possible.” (Page 219 of the paper). Firms can build up financial slack by restricting dividends when investment requirements are modest. The cash saved is held as marketable securities or reserve borrowing power. Debt...
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...different objectives. Shareholders’ goals are maximizing firms’ value, managers’ goals are benefit themselves, thus the conflicts rise in the company. In this report through concept of agency costs and analysis that two questions will be discussed. First, to what extent that as a result of agency costs shareholders wealth will not be maximized by corporate management. I will talk the agency costs in the conflict of interest between shareholders and management through analysis and lots of examples. Second I will discuss the actions that shareholders take to reduce the agency costs, and achieve their wealth maximizing. According to Hickman (1996), there are always separation of ownership and management in large businesses. Major corporations may have a large number of shareholder, these shareholders have no way to be actively involved in management so that they hire professional managers to manage the corporations. Shareholders put their money in corporations because they hope that the value of their investment will grow, they want to increase their wealth as much as possible. So the relationship in corporations is that shareholders are owners or principals and management are agents. The managers’ job is to maximize shareholders’ wealth, but managers may think their own wealth rather than the shareholders’ wealth, this is the agency problem. For example managers...
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...among staff members at all levels”. For any organization or establishment to run smoothly there must be a change of respect throughout. I personally feel as though no employee should feel lower than any other, including me the CEO. There is a saying that goes “A bad manager can take a good staff and destroy it, causing the best employees to flee and remainder to loose all motivation.” With this being said, no manager will ever belittle the employees and ultimately cause problems in our workplace. That is why underlying that everyone will use the same respect towards one another is one of the most significant key areas in the Code of Conduct. 1. Key Areas- Paragraph Two Another key area of the Code of Conduct is in section two part C: Conflicts of...
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...oversee relations between states dominates debate between scholars as to whether the world will ever be a peaceful, threat-free environment. In order to eliminate war and conflict, cooperation must characterize states’ behaviour towards one another, a system in which ‘the security of each [state] is perceived as the responsibility of all’ (Wendt, 1999). The question then becomes why, if cooperation leads to rewards for everyone, do states enter into conflict and war? International Relations theorists seek to explain this paradox by examining the obstacles to cooperation. For classical realists, the answer is simple; lust for power and a drive for conflict are rooted within human nature and, since humans are the operators of state actors, state behaviour mimics this nature in its approach to international relations. Neo-realists, by contrast, follow Waltz in his belief that the anarchic structure of the international system causes states to seek security and power, and therefore provides the ultimate obstacle to cooperation. While liberals disagree altogether, offering the counterargument that men are rational, and therefore states choose to engage in conflict in order to pursue state preferences, based on a cost-benefit analysis. The primary obstacle to cooperation for liberals, then, is the clash of interests between states. Realist political theory is largely based on the assumption that all states are self-interested and are driven by a desire for power and security. Their...
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...The cost to society from the failure of a large, complex bank (what is known as Too Big To Fail) is considerably higher than the cost to society of the failure of a non-systemic bank. This is because of their complex interconnectedness with the other institutions in the market. TBTF banks engage into activities and services with a network of other institutions in such a way that if a TBTF bank becomes insolvent, all those in the network will be at risk. For example, following the bankruptcy of Lehman Brothers, contagion spread by many channels, including prime brokerage, OTC derivatives positions, money market mutual funds, tri-party repo and wholesale funding markets. The cost to society of such failures is tremendous. One example is the increased tax burden on tax payers as a result of governments bailing out those banks. Views including the lack of proper regulation and the engagement in complex finance activities such as CDS have been blamed for the TBTF phenomenon. There have been a number of proposed solutions put forward to tackle the problem of TBTF whether on the regulatory side such as the separation of commercial and investment banking or on the disclosure side such as Basel 1,2 and 3 accords. By critically reviewing the arguments and evidence presented in the literature, this essay determines how effectively the solution of separating investment and commercial banking proposed by regulators of financial markets will deal with the problems of institutions which are...
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...relationship." When a conflict of interest between the needs of the principal and those of the agent arises, the conflict is called an "agency problem." In financial markets, agency problems occur between the stockholders (principal) and corporate managers (agents). While the stockholders call on the managers to take care of the company, the managers may look to their own needs first. In finance, there are two primary agency relationships: * Managers and stockholders * Managers and creditors PROBLEMS BTW STOCKHOLDERS versus MANAGER and STOCKHOLDERS versus CREDITORS... 1. Stockholders versus Managers * If the manager owns less than 100% of the firm's common stock, a potential agency problem between mangers and stockholders exists. * Managers may make decisions that conflict with the best interests of the shareholders. For example, managers may grow their firms to escape a takeover attempt to increase their own job security. However, a takeover may be in the shareholders' best interest 2. Stockholders versus Creditors * Creditors decide to loan money to a corporation based on the riskiness of the company, its capital structure and its potential capital structure. All of these factors will affect the company's potential cash flow, which is a creditors' main concern. * Stockholders, however, have control of such decisions through the managers. * Since stockholders will make decisions based on their best interests, a potential. *...
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...least three ethical issues within today’s business environment that affect numerous communities and organizations everywhere. This includes discrimination, sexual harassment, and conflicts of interest, and many others. As it is, ethical behavior in business can be defined as the standards established by society that are consistent with achieving the greater good. In the broader sense, business ethics involves decisions between good and malevolent paths. Emmanuel Kant, a German philosopher, taught ethical thinking through his “categorical imperative” theory, which meant, “act as if the maxim of thy action were to become by thy will a universal law of nature” (Trevino & Nelson, 2007, p. 99). Through this mode of thinking one may avoid vindictive paths when facing ethical issues. The prevention of unequal treatment in the work place is a fixed policy in all organizations and communities, yet discrimination is a reoccurring theme in both of these settings. Whether it is age, race, gender, sexual orientation, social status, nationality or religion, none of these characteristics should conflict with qualifications in employment or inadequate treatment during work. Both direct and indirect cases transpire in this ethical issue that lead to discrimination, direct being the predominate circumstance. For example, in some countries height requirements for filling a position exclude some ethnic minorities when, in fact, height is not necessary to perform the particular job in question (Tomei...
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