The concept of conflict, being an outcome of behaviours, is an integral part of human life. Wherever there is a difference of opinion there are chances of conflict. Managing conflict effectively demands multifarious professional abilities and acumen. To resolve and manage conflict, the organisations must understand the causes, theories, approaches and strategies of conflict management. Conflict and stress are interlinked as they are dependent on each other. It is a psychological phenomenon that requires a high level of attention and thorough understanding. It appears that there is a very little margin to remain unaffected from the clutches of stress in contemporary time.

conflict --- stress --- management --- organization --- strategy

As the economic downturn continues, and apparently there is no glimmer of hope for growth earlier than 2011-2012, governments worldwide are coming under growing financial pressure. Many companies have seen their profits slashed and some have gone out of business. A significant number of individuals are earning less, and unemployment is rising. All this means less tax coming in. In response, tax authorities have intensified their efforts to collect revenue, conducting more frequent audits and clamping down on tax avoidance and evasion. Moreover, the recession has caused an increase in events which under any circumstances would encourage the tax authorities to conduct audits. These include companies making substantial losses, or closures, which frequently put the authorities on alert in case such occurrences are being used to mask tax liabilities.

transfer pricing --- tax authorities --- financial pressure