Can Parties Challenge a Mediation? Parties to mediation can challenge any agreement resulting from the mediation by bringing a legal action alleging fraud or impropriety in inducing their agreement to a settlement of the underlying dispute. What is the process for Challenging the mediation agreement? A successful mediation results in a negotiated se...

What is the difference between a closely-held company and a publicly-held company? Business entities are often categorized as either closely-held or publicly-held. These designations are not separate types of business entity; rather, they are classifications or defining characteristics of a given business. Generally, the distinction between the two ...

What is Without Recourse? Without recourse doesn't have one single meaning. Usually, this phrase is used when the person who buys a negotiable instrument such as promissory note knows about the risks related to non-payments. Also, it refers to a financial approach where the highest probable liability of the dealer is restricted to the warranties in ...

What is Freudian Motivation Theory? Freudian motivation theory was developed by Sigmund Freud. This theory studies how unconscious desires motivate and shape the behaviors of individuals. That is, it studies how psychological forces that are unconscious influence the behaviors of individuals.  Freudian motivation theory maintains that the desires an...

What is the Intermediate Scrutiny Standard for reviewing a law for Constitutionality? Intermediate Scrutiny is a special standard used to determine when certain laws are Constitutional.  Intermediate Scrutiny is often applied when a law only partially affects a suspect class or the rights involved border upon fundamental rights. It requires that the...

What is Reinforcement Theory?  Reinforcement theory says that behavior is driven by its consequences. As such, positive behaviors should be rewarded positively. Negative behaviors should not be rewarded or should be punished.  Who Created Reinforcement Theory? Reinforcement theory was first recognized in the work of psychologist Ivan Pavlov (behavio...

What is the Quantitative Approach to Management? The quantitative approach applies statistics, optimization models, information models, computer simulations, and other quantitative techniques to the management process.  Decision-Making Units Central to the quantitative approach is the principle that organizations are decision-making units. These dec...

What is Backcasting? Backcasting is a method used in planning that begins with the desired result and plans action backwards to achieve that result. How to Backcast?  Backcasting begins with outlining a desired goal or object. Next, identify the programs and policies needed to connect that desired future back to the present. Backcasting vs Forecasti...

What is Expectancy Theory? Vroom's Expectancy Theory says that individuals act when they expect positive results from their actions. Without the hope of a reward, it is less likely that individuals will exert the highest level of effort.  As such, individuals choose their actions based upon the expected outcome of those actions.  Expectancy Theory A...

What is the Transmission Model? The Transmission Model of communication depicts communication as a linear, one-way process. The focus and importance is on the sender of the message. The receiver, who receives and decodes the message, is seen as an end-point in the communication process.  Note: Modern communication theory puts far greater emphasis on...