Alternate Dispute Resolution, ADR, is a way to settles
disputes in other means then litigation. What it means to me is basically
finding another way, or even grounds to make a decision that would benefit both
sides. Alternate dispute resolution is an effective way to find even grounds by
means of Arbitration which is when both sides agree on letting a third party
make the decision and then bind on it, Mediation, which is a neutral body
coming into the situation to help both parties come to an agreement on even
grounds where both sides can benefit, but the mediator does not get to make the
final decision in the end and the final process being Negotiation, which is
pretty much what it sounds like, a process requiring good communication skills
to bring the process along, cooperation and compromise to find even grounds and
it could improve the relationship or destroy it. The 3 processes that make up
alternate dispute resolution help make important decisions in businesses around
the world but do not get it confused with litigation and it differs on a key
thing if you ask me, and that is the fact you don’t have to go to court and
avoid a long tedious process that would require time and money, and in a
business world, Time IS Money! Some advantages Alternate dispute resolution has
over litigations include things like how bother parties maintain control over
what happens and it saves a lot of money from court fees and such, and its faster
than litigation's, but with advantages there are some disadvantages being courts
have more power to extract information and a fair process cannot be ensured.
Although I can’t say I’m in any big corporate bargaining deals such as the NHL
Lockout that had happened, but I can tell you this, when I was watching TSN
listening to all this talk about deals and Mediators and Arbitration's amongst
players and teams, I had no idea what they were talking about, but with the
information I’ve gathered from class I can finally understand what they are
talking about! I plan on opening a bar, so maybe I would have to negotiate
lease terms on a potential site for my bar making sure I’m not getting hustled
out of making money.
Honestly,
the only way I can relate this to my real life would be bargaining chores
around the house with my siblings, for example, who has to pick up the poo from
the backyard, I proposed a new deal saying, stop letting him do business in the
backyard and take him out for walks, therefore you don’t become lazy and gain
weight. No deal has currently been met, but I continue to provide my K9 with
long walks for excersize.
Ok
seriously? What will I do to use ADR, or what specific actions will I take? Ummm…
I’m still in school so unless you want to bargain tuition fees… don’t phase me.
You made a good point that time is money. Why go to the courts to waste both? ADR is a good thing to use especially when you're running your own business. The NHL is a good example for this type of situation. My sister and I also negotiate on who will take care of our dogs and sometimes it can get frustrating. But my parents come to be the mediators and helps us meet in the middle.
ReplyDeleteTime IS Money, So don't waste it. With this class has also given me a more clear understanding what an arbitrator does for professional athletes and contract negotiations. ADR is also an efficient way to slove problems in hopes that both get parties are satisfied with the outcome.
ReplyDeleteI agree with all of you, and your time is money. its time that can be used doing something else, especially when running a business because as an individual with a business, you are so busy with other important tasks and errands that are just to get through everyday life. with ADR, it is a faster, cheaper alternative way to come to a resolution with the other party and have some kind of negotiation between the two. I really enjoyed your blog and thought you put some humor into it as well!
ReplyDeleteI completely agree with your statement. The business world is about money and using ADR is how businesses can save money through certain situations. Time is money is a great quote to use because it is very true. I personally know with my future career time means everything and wasting time going to the courts and going through with litigation is not one of my walks in the park. Overall I agree with you and I believe you did a great job on this topic.
ReplyDelete