Reconciling conflicts of intrest (1 Viewer)

[Owyn]

My textbook say it needs to be done and leaves it at that please help.

 

[goan_crazy]

Bit of background for this dotpoint
There are internal and external stakeholders
Internal Stakeholders
- Responsibility of management to maximise wealth of shareholders in business
- To employees-fair and reasonable rewards & all appropriate rights (EEO, Secure and safe environment etc)

External Stakeholders – clients, suppliers, financiers, govt and social groups
- Each group must be adequately satisfied eg. Social responsibility to provide employment, prevent discrimination etc.


Now for your answer:
Reconciling conflict of Interest
- Between employer/employee regarding issues like pay.
- Management must have skills to reconcile/limit all potential conflict before it happens

 

[Owyn]

What about actual methods to resolve this conflict thoe?

 

[goan_crazy]

Think of ur ER things
Grievance procedures
Mediation
Conciliation
Arbitration
Common Law
Business Divisio/Closure

 

[Owyn]

oh, very clever i cant believe i missed that, i even did consumer for legals which is pretty much the same and still missed it, cheers

 

[chinkyeye]

lol, don't we jsut need 2 kneo da definitioon, and then once in da exam, u cna think about it, my defintion is... manageers must attempt to satisfy as many stakeholder expectations as posssible whilst acting in a responsible manner...