Banking Diploma Define conflict

 Define conflict.

Answer: We define conflict as a disagreement through which the parties involved perceive a threat to their needs, interests or concerns.

Disagreement - Generally, we are aware there is some level of difference in the positions of the two (or more) parties involved in the conflict. But the true disagreement versus the perceived disagreement may be quite different from one another.

Parties involved - There are often disparities in our sense of who is involved in the conflict. Sometimes, people are surprised to learn they are a party to the conflict, while other times we are shocked to learn we are not included in the disagreement.

Perceived threat - People respond to the perceived threat, rather than the true threat, facing them.

Needs, interests or concerns - There is a tendency to narrowly define "the problem" as one of substance, task, and near-term viability. However, workplace conflicts tend to be far more complex than that, for they involve ongoing relationships with complex, emotional components.

 “Conflict and competition are not similar terms.”-Explain.
Answer: Conflict is an inevitable part of human relationships. Depending on how it is approached and managed, conflict can be either constructive or destructive. Conflict arises when people disagree over something perceived as important. We live in communities and families with people who may not see things as we do. Conflicts occur on a daily basis, sometimes as small disputes, sometimes as violent battles.
Competition: a situation in which people or organizations try to be more successful than other people or organizations. Intergroup competition can play a significant role in creating prejudicial or discriminatory ideas, attitudes or behavior. According to conflict theory, resource scarcity and intergroup competition to acquire them are the source of prejudices against members of opposing groups. When groups engage in this kind of competition, negative or prejudicial attitudes toward their competitors can be observed among group members.

Discuss the different types of conflict management styles.
Answer: The Five Conflict Management Styles
We all adopt different types of conflict management styles, which vary with the conflict at hand and the person it involves. Knowing the 5 different types of conflict management styles can help people in becoming more aware of how they deal with conflict, and if this is a good strategy to address the noted issue. It’s important to note that each style has its pros and cons.

The Competing Style of conflict management can be described as placing high emphasis on the goal, at the detriment of the relationship you have with the individual involved. “It’s my way or the highway!” The goal is asserted aggressively, and the use of authority, position, as well as pressure tactics such as threats, force of persuasion is common. The power in this style of conflict management comes from a position of strength.
The Avoiding Style of conflict management occurs when someone places little emphasis on their goal as well as on the relationship with the individual involved. “No way! Let’s not make a big deal out of this!” The individual may deny the problem, avoids decisions and confrontations. They may also deflect responsibilities and blame other people. The power in this style of conflict management comes from silence and lack of cooperation.
The Accommodating Style of conflict management can be described as placing low emphasis on the goal, but high emphasis on the relationship with the person involved. “OK, whatever you say. We’ll do it your way!” Someone adopting this style can be described as protective and ‘soft’ on relationships. They set aside their needs for the other person and will yield to the other point of view. They are highly cooperative and can be described as a ‘yes’ person. They want to build good faith and relationships for the future. The other person may learn from the experience and the risk is low. The power in this style of conflict management comes from relationships and approval of others.
The Compromising Style is characterized  by moderate emphasis on both the goal and the relationship with the person involved. “OK, I’ll meet you half way!” the individual may listen and understand both sides, and introduces many issues so everyone gets a share. They split the difference and everyone loses and wins. The power in this style of conflict management comes from moderation and reasonableness.
The Collaborating Style occurs when someone places high emphasis on both the goal and the relationship involved. There is high assertiveness. “Let’s do it our way! This is what I prefer…What do you want?” They listen and communicate with others to understand needs and values. They use information and resources most effectively, and ongoing problem solving is required. Trust and balance are also important. Satisfaction with the work and commitment to the solution is imperative to all. The risk with this style includes fatigue, and use of too much time, no solution in sight and distraction from other tasks. The power comes from openness, clarity and cooperation.