Instead of Going to Court, Two Parties in Dispute Agree

question 7

Multiple Choice

Instead of going to court, two parties in dispute agree to a neutral third party listening to both sides of the argument and helping to resolve the dispute. What is the term for this type of dispute resolution?

• A) med-arb
• B) discovery
• C) pleadings
• D) arbitration
• E) mediation

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Definitions:

Product Domain

The complete range of products that a company creates or plans to offer within its market.

Long-term Direction

The strategic goals and visions set by an organization to guide its operations, development, and decision-making processes over an extended period.

Functional Strategy

A specific, detailed plan aimed at achieving objectives in a particular business area, supporting the overall business strategy.

Divisional Strategy

A strategic approach in which an organization is divided into semi-autonomous units, each focusing on a specific product line or market segment.