Strikes are increasingly common and this not only impacts the local economy, but also companies and workers alike. Employment partnerships could become strained between both sides, which could impact communication and productivity. Businesses are suffering from production and financial losses, and customer trust is adversely affected.
Whether a strike is legal or illegal, the company is affected, and workers need to know their rights and be up-to-date with current labor legislation and regulations. Many employers may choose to hire workers to replace striking workers and may raise shifts if the strike lasts for a long time. It is very important to have a contract by law for part-time / temporary workers. For days that have not been worked, the employer does not have to pay striking workers. If the strike was unlawful, it could be a legitimate dismissal.
Striking Workers belonging to a union must strike as decided by the employer. If the strike drags on for an extended period of time, workers could be at risk of losing not only salaries but benefits such as medical aid coverage, sick and holiday pay. If an employer is a member of the union and does not want to engage in the strike, members of the union may be at risk of being intimidated. Members of a union are generally protected from dismissal in a legal strike.
In the immediate and long term, the effects of striking will be felt as strikes appear to reoccur in some sectors and have become violent in some cases. Economists agree that it is difficult to calculate the impact of strikes on the economy, but it is detrimental to the country and its workers. GDP growth will be affected and the effects of higher wages would inevitably lead to higher inflation in certain sectors.
How do union strikes affect the overall impact on a business or corporation (i.e. employees, profit,...
How do union strikes affect the overall impact on a business or corporation (i.e. employees, profit, etc.). Is this beneficial to the overall success of the economy?
what is the impact to the organization for having a union, and how are employees impacted?
A retailer puts items on sale, how do you think this will impact their overall profit? Provide an example of CVP analysis you learned this week and do the "what if" they sold more items at a lower price due to the sale? Do you think your analysis will be the same for online and brick and mortar retailers? Why or why not?
If the UK actually leaves the European Union, how might this have affect business throughout these countries? Will this action affect all UK countries similarly? Do you know which countries are in the UK? Please refer to the web site: "Brexit: All You Need to Know."
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How do the different types of power, used by leaders, affect employees of the organization?
When thinking about risk, what do the terms “impact” and “business impact” mean? How are they determined? How might these terms be different based on the “risk audience”?
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