ADR describes any procedure or device other than the traditional judicial process used for resolving disputes. ADR is normally a less expensive and quicker process than formal litigation. In some cases, ADR also provides the advantage of privacy. ADR procedures can help the company maintain a cordial relationship with the opposing party, dispose of issues relatively quickly, and allow for flexible and alternative solutions to business conflicts.There are three basic types of ADR: negotiation, mediation, and arbitration.Describe each type of ADR and answer the following questions:What is the process for each type of ADR, and how can a corporate manager prepare for it?What are the advantages and disadvantages of each type of ADR?Discuss each type of ADR in the context of the enforceability of the decisions made. Submit your answers in a 2- to 3-page Microsoft Word document.