Contingency Planning Means Identifying in Advance Changes That Might Occur

question 130

True/False

Contingency planning means identifying in advance changes that might occur that would affect a business and developing a plan to respond to such changes.

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Definitions:

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants come to a consensus on their own.

Arbitration

A method of resolving disputes outside of court where an impartial third party delivers a conclusive judgement to settle a disagreement between parties.

Union-Management Relations

The dynamics and interactions between a company's management team and the labor union that represents its workers, emphasizing negotiation and labor agreements.

Union Instrumentality

The effectiveness and influence of a labor union in representing its members' interests.