James Bradshaw, the union representative responsible for pay negotiations at Safeguard Cabinets, was planning to call a strike of all of his union members. "The management has negotiated with us but they refuse to increase their pay offer of 5%. We are asking for 10% and longer holidays. My members work very hard yet are paid less than workers in other cabinet making firms. The only way to make managers see sense is to call a strike." The Human Resource Manager had told James: "We need to be responsible about these negotiations. The business wants a motivated workforce but as profits are falling, we cannot afford a rise above the level of inflation - 5% a year. I suggest that we go to an independent arbitrator. I am very keen to avoid a strike as our customers will just not wait for goods that they have ordered. 1. What is meant by the following terms: a) Trade union b) Strike c) Arbitration 2. Explain why a strike would damage the business 3. One of the people who plays an important part in organizing restrictive practices is the shop steward. What are shop stewards? 4. Explain THREE restrictive practices that the employees could engage in other than going on strike 5. Explain TWO benefits to workers of belonging to a Trade Union
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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