What was the role of arbitration when disputes arose between business owners and unions?

Arbitration serves as a neutral mechanism for resolving disputes between business owners and unions, providing a structured process to address grievances without resorting to strikes or lockouts. It involves an impartial third party who hears both sides and makes a binding decision, which helps maintain labor relations and encourages cooperation. This process is often outlined in collective bargaining agreements and is designed to ensure fair treatment while minimizing disruptions to business operations. Overall, arbitration fosters a more efficient resolution of conflicts, promoting stability within the workplace.