Conflict Management in the Workplace: The Key to Business Success
Many Bangladeshi companies suffer from inter-organizational conflicts that hamper their business growth.
Structural or inter-organizational conflict can have severe consequences for businesses, including financial losses and even the breakdown of the entire organization. This type of conflict often arises when top management unintentionally shows favoritism towards specific teams, leading to feelings of superiority among those favored employees. The result can be a decrease in productivity and a negative impact on shareholders and investors.
Robyn Short, a trained mediator from Dallas, notes that poor conflict management can cost managers almost one day of productivity per month or two and a half weeks per year. A study found that most employees believe that effective conflict management is a vital leadership skill and that many managers could handle disputes more effectively by addressing tensions as they arise.
However, it is essential to note that conflict can also have positive outcomes when managed effectively. Competition can drive progress, build trust, and strengthen relationships, leading to increased productivity and improved bottom-line results.
Unfortunately, conflict resolution skills are not often taught as part of the core curriculum in education, meaning that many adults enter the workforce with little understanding of how to prevent or manage conflict.
This is why CEOs and C-level executives must take charge of resolving internal disputes within their organizations. It is also essential for these leaders to avoid taking a divide-and-rule approach, as this can be detrimental to the organization's overall health.
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