Conflict management in organizations Research Paper

Conflict management in organizations - Research Paper Example Attorneys attempt to reach an agreement on a lawsuit. An association of gasoline stations may attempt to reach an agreement on the price of gasoline. Negotiation is part of life (Fisher, 2011). A. Statement of Issue There are a variety of conflict management strategies which may be applied. One may try to force an individual or a group. This entails the application of authority or power to unilaterally satisfy the concerns of one of the parties involved. Accommodation is another option, completely satisfying the other party involved without fulfilling the needs of the opposing party. Avoidance tactics which are not acknowledging the conflict or the other parties involved. Compromising which entails finding a solution which is pleasing to both parties. Collaborating which is agreeing with the other party and trying to find a way for both parties to win (Wright.edu). Conflicts are usually the result of the following elements: Deficiency in communication. The direction or the quantity o f resources is not considered satisfactory. Personality clashes. Administrative problems (managementhelp.org). Conflicts may result in negative perceptions of the other party (mindtools.com). Frictions between groups or teams is natural and part of industrial relationships (Murray, 1974). In applying the Five factor Matrix of personality and the demand control matrix of the work environment as a reference point, those with more demanding employment positions were more prone to conflicts with those with less demanding employment positions (Sutin & Costa, 2010). Conflicts may occur in modern day work environments due to chronic fatigue syndrome. There is a relationship with regards... This research will begin with the statement that conflicts may be described as a disagreement or test of will between two individuals or groups with differing desires, concepts, perceptions, values, and objectives. The conflict may increase and lead to a non desired outcome or it may be peacefully resolved and lead to the desired outcome. Learning to administrate conflicts is of tantamount significance to a team or group which produces a high output. No one really looks for conflict; conflict may be an outcome of lack of communication or faulty communication between individuals or groups. With regards to desires, concepts, perceptions, values, and objectives. Conflict management is the concept which all conflicts may not come to a resolution without mediation. Administration of the conflict and the desires, concepts, and perceptions of those involved may maximize the risk of an undesired outcome. Whether we like it or not, negotiation is an everyday occurrence. One may plead with man agers for improved conditions in the workplace. One may attempt to bargain with an individual or group, for anything from a newspaper to a newspaper advertisement selling a vehicle or a home. Attorneys attempt to reach an agreement on a lawsuit. An association of gasoline stations may attempt to reach an agreement on the price of gasoline. Negotiation is part of life.  Conflicts are natural and inevitable. When teams are composed, the variations in individual power, values, perceptions, desires, and attitudes will increase the possibility of conflict.  

Prospect Theory Essay Example | Topics and Well Written Essays - 1000 words

Prospect Theory - Essay Example ranked based on the level of preference to the consumer despite the notion that utility derived from goods cannot be measured (Kahneman and Amos 265). The sum spent on a good or service is used to measure the utility since a rational consumer is bound to spend more on a good if the resulting marginal utility is less than that of another preferred good. Notably, the marginal utility of a specified good is related to its price. The two theories are dependent on different principles. The expected utility theory is based on the expectations, asset integration, and risk aversion. The expectation can be defined as the anticipated utility of an outcome that depends on the price of an item or service. Asset integration results to the measurement of the utility through the prospect of a consumers assets (Kahneman and Amos 266). Utility from one asset alone should exceed the utility of the other assets. Risk aversion shows the level of risk that a consumer is willing to undertake for a defined item. It is equal to the concavity of the utility function. On the other hand, prospect theory is based on principles such as the measurement of gains and losses. The principles lead to a two-way process that involves the editing and evaluation of a consumers defined situation. During the editing stage, a consumer uses a personal reference point to make adjustments on wealth based on the choice being made. As a result, consumers tend to be reluctant to adjustments known as gain and prefer losses to make their final decision. During the evaluation phase, the consumer will tend to prefer likely events and defer the likely events. Utility is the computed value of evaluation that is based on respective probabilities sand the potential outcomes (Kahneman and Amos 266). Decision makers in the utility theory are consistent and ordered. They can also rank their choices based on their current situations and attractiveness of each alternative. Preferences cannot be the nature of the choice