Which of the Following Is a Key Difference Between Mediation

question 53

Multiple Choice

Which of the following is a key difference between mediation and arbitration?

• A) Mediation involves a third party, whereas arbitration is performed without third parties.
• B) Arbitrators give suggestions, whereas mediators give directives.
• C) Mediation is compulsory, whereas an arbitration is voluntary in nature.
• D) Arbitration provides a legally binding settlement, whereas mediation is not binding.
• E) Mediation has a win-lose orientation, whereas arbitration has a win-win orientation.

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Definitions:

FAIS

The Financial Advisory and Intermediary Services Act, legislation aimed to regulate the offering of certain financial advisory and intermediary services to customers.

CRM

Customer Relationship Management, a technological approach to managing a company's interactions with current and potential customers, focusing on nurturing relationships to drive sales growth.

DSS

Stands for Decision Support System, a computer-based information system that supports business or organizational decision-making activities.

TPS

A Transaction Processing System is an information system designed to gather, store, alter, and recover an organization's transaction data.