Explain arbitration and mediation and how they apply to labor realtions.

Arbitration is a process whereby two parties in dispute,
in this case probably labor and management, agree to follow the procedures set down by
an outside party but using it as an avenue to settle their disputes without taking them
to court.  It allows both sides to agree on a process and then the opportunity for them
to give up their decision making authority to this arbitrator if the two parties
agree.

Mediation is a similar process and someone acts as
the mediator and can help to offer a non-biased opinion on how to resolve a matter,
particularly if the negotiations between the two parties are at an
impasse.

Both processes are considered alternate forms of
dispute resolution and often play an important role in working out disputes between
labor and management given that the two sides often find it very difficult to see things
from each other's perspective.