Compulsory arbitration involves the forceful submission of a labor dispute to a neutral third party, such as a government body or the American Arbitration Association, for resolution. This method, also known as binding arbitration, has been resisted by labor unions and employers who prefer collective bargaining and economic pressure to resolve disputes.
Strikebreakers, also known as scabs, are management-hired replacements for striking employees. They must cross a picket line and are typically bitterly resented by striking employees.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.