An Appraisal of Alternative Dispute Resolution (ADR) in Corporate Man,agement

Abstract

This research work looked at An Appraisal of Alternative Dispute Resolution (ADR) in Corporate Man,agement. ADR is seen as the modern way of settlement of dtsputes in commercial transactions without recourse to the court of law which is currently assuming wider application because of the speed in solving corporate disputes. In carrying out this research work primary and secondary materials were used. We identified the nature of disputes in corporate management 'and how ADR could be used to resolve them. It was discovered that not many people and institutions have recourse to this emerging phenomenon because of the fact that we are use to court system which is mostly indicative of 'trouble'. It was further discovered that deadlock in corporate management has hindered effective productivity and peaceful working environment in corporation and thus affected its expansion and increment in the company. It was the researcher's findings that the majority rule in corporate management if not handled with tact and precision will occasioned injustice on the minority. Therefore the need and importance of ADR in corporate management cannot be over emphasised as issues are brought to bear focusing on the interest of the parties 'other than positions thus, this research work encouraged persons and various institutions to go for ADR because of the benefits derivable from the process. In conclusion, the researcher accepted that, ADR being flexible and private encourages openness and willingness of the parties to resolve their disputes amicably, which at the end will lead to win-win situation and a better atmosphere for growth. Finally, the researcher recommended inter alia, that the directors and shareholders should greatly employ the use of ADR skills and strategies such as good listening and effective communication skills in resolving their disputes to enhance continuity in business and friendly relations. v