HRM 3422 Lecture Notes - Lecture 9: Opportunity Cost, Malice Aforethought, Visible Minority
3 Oct 2016
School
Department
Course
Professor
Document Summary
Industrial dispute- disagreement from entering or revise ca. Strike- workers refuse to continue working or stop working. Work to rule- before go on strike; includes work slow down (work effort to reduce production) Lockout- work stoppage by employer for workers to agree to proposed terms / working conditions. Mgmr go to courts for injunction to go back to work w/ legal penalties. Certain industries more strike prone (finance, real estate, mgmt. services) Strike theories- 1) accident/hicks theory- strike rep accidents. Rational negotiator look for to avoid strike / lockout (avoid high cost) 2) total joint cost theory- strikes likely to happen when cost low to 2 parties a) cost of strike high to one party but low to another. Bargaining power to low cost strike party. One settles b/c cost too high for them b) working overtime & accumulate inventory both parties could survive from strike. Workers use overtime savings & org use revenue from stockpile inventories sold.
