Briefly Describe the Four Strategies Used to Manage Conflicts

question 52

Essay

Briefly describe the four strategies used to manage conflicts.

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Definitions:

Sole Proprietorship

A business structure in which a single individual owns and operates the business, bearing sole responsibility for its debts and obligations.

Corporation

A legal entity owned by stockholders whose liability is limited to the value of their stock ownership.

Partnership

A firm with multiple owners who share the profits and bear unlimited liability for the firm’s losses and debts.

Industrial Revolution

Development of large-scale factory production that began in Great Britain around 1750 and spread to the rest of Europe, North America, and Australia.