A Canadian company had placed an order with a Korean company for electronic equipment. The Korean company was unable to deliver the goods on time due to a technical failure and the Canadian company incurred losses. Initial attempts to informally settle the dispute failed. Hence, each party chose a person to defend their case and a lawyer was appointed by an international committee to settle the dispute. The decision of the lawyer was binding for both parties. The method of dispute resolution being used in the above scenario is _____.
A. litigation
B. arbitration
C. informal settlement
D. coercion
E. conciliation
Answer: B. arbitration
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Which of the following is true regarding whether charismatic leaders are born or made?
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