In Today's Global Competition, It Is Important to Recognize the Kinds

question 105

Multiple Choice

In today's global competition, it is important to recognize the kinds of organizations that exist. Organizations can basically be divided into two categories:

• A)business and non-profit.
• B)domestic and multi-national.
• C)privately owned and publically owned.
• D)regulated and unregulated.

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Definitions:

Arbitration

Arbitration is a method of dispute resolution where a neutral third party, known as an arbitrator, makes a decision to resolve a dispute outside of court.

Mediation

A type of intensive negotiation in which disputing parties select a neutral party to help facilitate communication and suggest ways for the parties to solve their dispute.

Early Neutral Case Evaluation

A dispute resolution process where a neutral party assesses the strengths and weaknesses of a case early in litigation to facilitate settlement.

Neutral Third Party

A neutral third party is an independent entity with no stake in the outcome, often involved in mediation or arbitration processes to provide unbiased judgment or facilitate settlements.