Difference between revisions of "Arbitration"
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According to [[Marketing Management by Keller and Kotler (15th edition)]], | According to [[Marketing Management by Keller and Kotler (15th edition)]], | ||
:[[Arbitration]]. To resolve a conflict, when two parties agree to present their arguments to one or more arbitrators and accept their decision. | :[[Arbitration]]. To resolve a conflict, when two parties agree to present their arguments to one or more arbitrators and accept their decision. | ||
| − | According to | + | According to [[Juran's Quality Handbook by Defeo (7th edition)]], |
:[[Arbitration]]. Adversarial process in which parties agree to be bound by the decision of a third party. It is an attractive form of resolving differences because it avoids the high cost and long delays inherent in most lawsuits. | :[[Arbitration]]. Adversarial process in which parties agree to be bound by the decision of a third party. It is an attractive form of resolving differences because it avoids the high cost and long delays inherent in most lawsuits. | ||
Revision as of 15:59, 3 July 2020
Arbitration is a process in which the parties involved agree to submit an unresolved dispute to a neutral third party, whose decision is final and binding.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Arbitration. A process in which the parties involved agree to submit an unresolved dispute to a neutral third party, whose decision is final and binding.
According to Marketing Management by Keller and Kotler (15th edition),
- Arbitration. To resolve a conflict, when two parties agree to present their arguments to one or more arbitrators and accept their decision.
According to Juran's Quality Handbook by Defeo (7th edition),
- Arbitration. Adversarial process in which parties agree to be bound by the decision of a third party. It is an attractive form of resolving differences because it avoids the high cost and long delays inherent in most lawsuits.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
