Final answer:
It is false to claim that there is universal agreement between unions and companies on arbitration being preferable to litigation in labor-management settings. While arbitration does have advantages, its preference can vary based on specific circumstances and is not unanimously agreed upon.
Step-by-step explanation:
The question involves the evaluation of the statement on whether arbitration is universally preferred over litigation by both unions and companies in labor-management settings. While arbitration is often favored due to its cost-effectiveness, privacy, and speed, it is not true that there is universal agreement on its advantages.
Unions and companies may prefer arbitration in many cases, but there can also be situations where litigation is chosen due to the potential for appeal or public record. Furthermore, the role of unions in adapting to new technologies varies and is influenced by the perception of job security and negotiation strength.
Considering the information provided and the nuanced nature of labor-management relations, it's important to recognize that arbitration has benefits, but to suggest there is universal agreement on these benefits over litigation would be misleading.
Therefore, the statement that both unions and companies have universally agreed that arbitration has advantages over litigation in the labor-management setting is false.