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Posted: November 1st, 2022
Conflict Resolution Assignment
As a broker, you welcome new business opportunities. You value your work, and are aggressive in building new relationships with clients as well as your peers. As brokers you are constantly under pressure to outperform and build a strategic portfolio that will continue to build and grow, helping your bottom line and your brokerage.
You recently landed a new client whose business will give your portfolio a boost with you and the brokerage. The client is one of the largest manufacturers of microprocessor chips used for various electronic devices, including Apple and Samsung. His revenues for the past 3 years accumulate to 30MM and securing him as well as his contacts is the biggest deal you have come across.
Prior to the meeting one of your colleague gives you some additional information that will help secure the business including vendors, personal interests and growth strategies. Without it, you are confident that you can help persuade the client to move part of their portfolio over, with the intent to eventually move the entire business operations to your firm.
Just prior to the meeting, you fall ill and do not feel comfortable with pursuing but do not want to cancel on the client because you understand the importance of their time. You have the option to have your colleague who gave you some of the prior information to step in and feel this choice is the best option to win the account. They agree and feel that this would create a long-term relationship for the client as well as the brokerage.
Upon return from your illness you discover that your colleague has left you out of the conversation, and the client was signed and secured with them, not you. This not only upsets you, but you have lost a significant piece of business. As a broker you work on commission and feel this proves to be extremely unprofessional. You schedule a meeting with your manager to resolve this issue.
In a 1500-word essay, and using the 5 options of conflict resolution, illustrate how each of resolution would apply? What steps would you take to ensure the outcome you desire? Use at least 2 additional sources to support your work.
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