Question

The process of bringing in an impartial third party to render a binding decision in a labor dispute is referred to as:

A) Arbitration
B) Mediation
C) Conciliation
D) Negotiation

Answer 1

The process in question is known as arbitration, which involves an impartial third party making a binding decision in a labor dispute when informal methods fail.

Step-by-step explanation:

The process of involving an impartial third party to render a binding decision in a labor dispute is referred to as arbitration. When an informal approach has not resolved a dispute and no internal mechanism is available, arbitration is often used.

It is considered accessible and impartial dispute resolution, ensuring that justice is delivered in a timely manner by independent and neutral decision makers. Unlike mediation or conciliation, where the third party assists in the negotiation process but does not impose a solution, arbitration results in a decision that is binding on both parties.