• ### Unit 5: Conflict Management and Negotiations

Conflict is a good thing, as long as it is productive. Insulting someone is not productive, but a healthy debate is the foundation of democracy and is valuable in business as well. Successful organizations encourage healthy conflict; it forces people to defend opinions and allows for a free flow of ideas. Of course, managers must prevent these conflicts from getting out of hand.

The same ideas apply to negotiation, or conflict with an individual outside of the organization. The key to successful negotiation is preparation. Whereas conflict within a firm can be less formal, negotiations require much more due diligence. Whether it is a $10,000 contract or a$10 billion merger, the principles of negotiation remain the same.

Completing this unit should take you approximately 10 hours.