What is the role of 'arbitration' in conflict resolution?

Arbitration plays a crucial role in conflict resolution by involving a neutral third party that reviews the facts of a dispute and makes a binding decision. This method is often used when the parties involved are unable to reach a resolution on their own and prefer not to go through the lengthy and often more costly process of litigation. The arbitrator's decision is typically based on the evidence presented during the arbitration process, and this final ruling is enforceable by law.

This structured setting allows for a more efficient resolution compared to informal discussions or direct negotiations, which may not always reach a conclusion favorable to both parties. Unlike methods that promote team discussions or informal conversations, arbitration is formal and focused on arriving at a definitive outcome, making it particularly useful in business or legal contexts where swift resolution is imperative.