An Arbitrator

question 53

Multiple Choice

An arbitrator:

• A) is a neutral third party that helps the union and management negotiators reach a voluntary agreement
• B) determines the conditions of the agreement that ends the negotiation deadlock
• C) may make suggestions and recommendations based on his or her expertise
• D) must have the trust and respect of both parties if he or she is to have any success at ending the deadlock
• E) has no power to impose a solution

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Definitions:

Profit-Seeking

The motivation or driving force behind individuals or companies to undertake activities that increase earnings and reduce costs, in order to maximize profits.

Major Oil Companies

Large, often multinational companies, engaged in the exploration, extraction, refining, and selling of oil and petroleum products.

Department Stores

Large retail establishments that offer a wide variety of goods divided into departments under one roof, including clothing, household goods, and other consumer products.

Hotel Chains

Groups of hotels operated by the same company or owner, often sharing a brand, marketing, and standardized amenities.