BUISENESS MANAGEMENT
BUSINESS STRUCTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increased labour productivity
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Time lost due to strike action.
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Trade unions bargaining can cause cost-push inflation
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Trade unions go on strike and work unproductively.
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Detailed explanation-1: -b’Individual action is not a characteristic of trade union. Trade union is established for the specific purpose of advancing and protecting the interests of its members or workers in their working relationship.
Detailed explanation-2: -Unions may provide additional information to a firm about the preferences of employees, thus permitting the firm to choose a better mix among working conditions, workplace rules, and wage levels. These can result in a more satisfied, cooperative, and productive workforce.
Detailed explanation-3: -Unions can make a company a more desirable place to work and thereby help attract more and better job applicants. Unions generally reduce employee turnover and increase workers’ loyalty and commitment to their employer’s success. More experienced, more dedicated workers are more productive workers.
Detailed explanation-4: -They do not provide any benefits such as increasing their wages, granting sick leaves, giving compensation in case of accidents, etc. The workers are not made permanent even after many years of service and in some cases they are removed from service summarily.