IAI Actuarial Core Principles · Business Management · Mission, business strategy, teamwork and time management
In a cross-functional team at an Indian bank-owned insurer, an actuary and a marketing manager disagree on a product feature. Each wants to win. The team leader proposes a solution that integrates the actuary's concern about pricing risk and marketing's concern about customer appeal, after exploring both. Which conflict-handling approach is this?
This is collaborating. The leader explores both concerns and builds a solution satisfying pricing risk and customer appeal, a win-win approach, unlike compromising, where each side concedes something, or competing, accommodating and avoiding.
- ACollaboratingCorrect
- BAvoiding
- CAccommodating
- DCompeting
- Compromising
Explanation
Collaborating seeks a solution that fully satisfies both parties' underlying concerns through joint problem solving. Compromising would involve each side giving up part of its aim, while competing, accommodating and avoiding favour one party or sidestep the issue.
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