Final answer:
A mediator is a third party in a dispute who encourages dialogue and suggests solutions but does not make legally-binding decisions. They are crucial in representing overlooked groups and ensuring diverse voices are heard, which helps the parties involved in the dispute to stay engaged and considerate of different viewpoints.
Step-by-step explanation:
A mediator is a third party who encourages both parties in a dispute to continue negotiating and makes suggestions for resolving the matter but does not offer legally-binding decisions. If an informal approach hasn't worked and no internal mechanism is available, a mediator or another form of neutral third-party may be brought in to facilitate the negotiation process. Mediators often play a crucial role in helping parties find a common ground in disputes by offering neutral ground to discuss issues and can often prevent disputes from escalating into more formal settings, like courtrooms.
Third parties have the advantage of representing ignored groups in society, thereby raising otherwise ignored issues, and can therefore help keep the other two disputing parties "on their toes". Moreover, third parties often act as a safety valve in our political system, ensuring that a variety of voices and perspectives are heard during the negotiation process.