Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter A, Problem 1CE
Summary Introduction

To determine: The task performed, skills needed, pay and opportunity outlook of the career.

Introduction:

Arbitrator and mediator are those persons whose work is to settle the dispute between two parties. Arbitrator and mediator help in settling the case outside the court of law.

Expert Solution & Answer
Check Mark

Answer to Problem 1CE

Arbitrator and mediator help in solving the dispute outside the court of law. Arbitrator and mediator should be good listener, speaker, have problem solving ability and should have quick learning ability. The median hourly wage rate in this career is $29.17 and median annually wage rate is $60,670. The opportunity outlook for the career is that is projected to grow by 10% from 2016 to 2026.

Explanation of Solution

Arbitrator and mediator help different parties that are dispute to find a solution of their problem outside the court of law. The skill set which an arbitrator and mediator require is mentioned below:

  • Knowledge of law,
  • Negotiation power,
  • Good listener,
  • Good speaker,
  • Problem solving ability, and
  • Quick learner.

The wage rate of an employee working in this career is:

  • Median hourly wage rate is $29.17.
  • Median annual wage rate is $60,670.

The opportunity outlook for the career is that it has chances to grow by 10% from year 2016 to 2026. The growth rate of occupation is more than the average growth rate of other occupations.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Please original work Talk about the critical steps that must be taken in order to effectively cascade the balanced scorecard.   Provide a real-life example of an organization that has done this effectively (H-E-B grocery store or Walmart), or alternatively, provide a real-life example of an organization that attempted to cascade a balanced scorecard but did not have a good result.  Why. Please cite in text references and add weblinks
Please original work What does “influencing” mean to you? Talk about how a leader can effectively influence and include all employees in the balances scorecard development process. What is one specific way your current supervisor or a previous supervisor has included you in high-level strategic discussions? What were the results? Please cite in text references and add weblinks
Dubai man-made islands should reflect your analysis, synthesis, and evaluation of the case.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning