Mike of Mike’s Marketing Magic and Lisa of Lisa’s Computer Cavehave been doing business with one another for over 10 years.Initially Lisa was quite happy with the relationship and foundMike’s service to be excellent. Over the past year and a half,however, the pamphlets and advertising materials from Mike’sMarketing Magic have been late with increasing, and alarming,frequency. Lisa has spoken to Mike about this, and while theproblem was solved for a short time, it has recently begun to be aproblem again. On the other hand, Mike’s prices are the lowest thatLisa has managed to find. From Mike’s perspective, the relationshipalso began as prosperous. Recently, however, Lisa has hired a newaccounts payable clerk, who regularly misses the due dates forpayment and sends the money late. Mike also has suppliers and findsthis inconvenient and that his relationships with his suppliers aredeteriorating. As was the case with Lisa, Mike has called andspoken to the clerk, which improved things briefly, but theyshortly reverted to late payments. Last week Lisa ordered ashipment of brochures from Mike in preparation for a trade showsale that she had a table at this past Saturday. She had paid to besponsor of the trade show to have a prominent table at the show.Without the brochures and advertising materials, Lisa was forced togive use her “old” advertisements to the people who came by hertable. She believes that she lost significant business. When shecalled Mike, he told her that he was still waiting for payment fromthe last shipment, which was overdue, and was not at allsympathetic. In light of the foregoing, and assuming that directdiscussions between the parties has not been successful, answer thefollowing questions: a. List, and briefly explain, the disputeresolution mechanisms available to Mike and Lisa and provide twoadvantages and disadvantages for each (please explain your answersthoroughly and you may set it up in chart form). b. Ifyou were advising Lisa as to how to proceed, and you know that sheis concerned about her privacy and business reputation above all,which one of the available mechanisms would you suggest she selectand why, and which ones would you reject and why?
NEED ANS ASAP.
