Retrocession – Meaning and its Benefits
We are now aware that reinsurance companies are created especially for taking up risk from other insurance companies. Most people believe that this is the end of the value chain. This means that the risk stays on the books of the reinsurance company till it is extinguished. However, this is not the case. Reinsurance companies […]
Role of Communication in Team
A team is formed when individuals with a common goal come together on a common platform. The team members must complement each other and avoid silly conflicts among themselves. Communication plays a very important role in team building and extracting the best out of the team members. A team member must clearly understand what his […]
Kinds of Change and the Barriers to Change
There are different kinds of change that an organization might undertake or be forced to undertake because of internal and external factors. The internal factors for change include reorganization and restructuring to meet the challenges of the future and also to act proactively to initiate change as a means of staying ahead of the competition. […]
Scenario Analysis in Risk Management
Scenario analysis is the third pillar of the framework suggested by the Bank of International Settlements in their Basel norms. In the previous articles, we have already studied a collection of internal and external loss data as well as the self-assessment of risks. However, it is important to note that the loss data collection framework […]
Challenges in Global Insurance And International Claims
Multinational organizations have become extremely powerful entities in the 21st century. There are many companies which have business interests that are spread across hundreds of countries. Given the global nature of such companies, it is only rational for some of these companies to want a global insurance provider. These companies want to standardize the insurance […]
A difference in the opinions, values, understandings and thought processes of individuals lead to a conflict. When individuals strongly oppose each other’s ideas and concepts, a conflict starts.
It has been observed that when people think in dissimilar ways and are not willing to compromise at all, conflict arises.
Conflict can start anytime and at any place when individuals are not ready to accept the middle path approach.
A conflict results in verbal arguments, abuses, tensions and also spoils relationships.
Before starting any conflict one should take some time out to think, “How will this fight benefit me?” “Is it going to provide me any solution ?”
Nothing beneficial and productive comes out of a conflict. It is simply a wastage of time and energy for and thus every individual should try his level best to prevent conflict.
First learn to keep a control on your emotions. Never ever get too hyper or overreact as it leads you nowhere.
Always remember the other individual you are dealing with might not be as educated as you, might not be from the same background as you are, but you have no right to ridicule his opinions.
Be a good and a patient listener. Listen carefully what the other person has to say and then only give your expert comments. Even if you don’t agree to his/her suggestions, don’t just start fighting, instead discuss with him. Both of the individuals must try to compromise to some extent and find a solution.
Conflicts only add on to your anxiety and thus it must be avoided at any cost. Never be rigid on any point, instead be flexible and try to find out an alternative.
Learn to keep a control on your tongue. One must think before he speaks. Don’t unnecessarily shout on others as it not only spoils the ambience but also brings a lot of negativity around. Soften your voice while interacting with others and learn to adjust with others. Sit with the other person and try to sort out your differences.
Misunderstandings also lead to conflicts, so be very clear and transparent in your communications. Never play with words and the content of your communication has to be specific to avoid conflicts.
Do cross check with the speaker whether he/she has understood everything in the desired form or not, failing which would lead to misunderstandings and eventually to a fight.
Effective communication goes a long way in preventing conflicts. Don’t always expect the other person to understand everything on his own. It is your moral responsibility to make him aware of what you exactly expect out of him.
Every individual has the right to express his views and opinions, and you have no right to criticize him. If you respect other individuals, you will get respect in return. If a conflict arises among group members; make sure you address all the participants together. The issues and problems must be addressed on an open forum.
Personal favours and biases must be avoided for a peaceful environment. Listen to each and everyone’s opinion and then only take a decision. Be a good leader and try to take everyone along. Keep your mind calm and composed.
Don’t feel guilty if you have done anything wrong, instead admit it. Never hesitate to accept your faults. Be the first one to apologize. A small sorry can work wonders and prevent conflicts and unnecessary tensions.
If the other individual is too demanding and adamant and is just not willing to listen, the best solution is to avoid him. You can’t be everyone’s favourite, learn to ignore people who are just not flexible and always ready to initiate a conflict.
Don’t always bother what the other person has to say about you. Always act in a manner which you think is appropriate and don’t just blindly trust the rumor mills.
No one wins in a fight and you gain nothing out of it. As they say “Prevention is better than cure”, thus a conflict must be prevented at its early stages as it snatches one’s mental peace and harmony.
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