During Contract Negotiations, the Management of Wild Mist Inc

question 30

Multiple Choice

During contract negotiations, the management of Wild Mist Inc. and its employee union fail to reach an agreement on an issue related to retirement benefits. A neutral third party is called in to come up with a solution and make a decision on behalf of the management and the union. In the context of bargaining impasses, the process used in the given scenario is referred to as _____.

• A) collusion
• B) conciliation
• C) arbitration
• D) mediation

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Definitions:

Performance

The effectiveness with which a company, individual, or system operates to meet its objectives or benchmarks.

Specification Methods

Techniques used to describe the requirements, standards, and quality measures for materials, products, or services.

Purchasing by Specification

Involves acquiring goods or services based on detailed descriptions of their requirements and characteristics, ensuring they meet specified standards and performance criteria.

Supplier Expertise

The specialized knowledge or skills held by a supplier, making them a preferred choice for delivering specific goods or services.