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1.4 Glossary of Key terms

Unit 1.4 - Glossary of Key terms: StakeholdersKey termDefinitionArbitrationMethod of stakeholder conflict resolution with all stakeholder groups in conflict agreeing to accept the decision or judgment of the independent arbitrator.CompetitorsThese are the firm’s rivals, which operate in the same industry and contest for the same customers.ConciliationMethod of stakeholder conflict resolution which aims to align the...

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