The Bargaining Power of Consumers Can Be the Most Important

question 118

True/False

The bargaining power of consumers can be the most important force impacting competitive advantage.

---

Definitions:

Unfair Labor Practices

Actions by employers or unions that violate the rights of workers or union members, including discrimination, retaliation, and interference with collective bargaining rights.

Mediation

A dispute resolution process where an impartial third party helps conflicting parties find a mutually acceptable agreement.

Employer-initiated Work Stoppage

Instances where employers halt operations or lock out employees as a tactic in labor disputes, often to enforce terms or pressurize negotiations.

Mediation-arbitration

A hybrid dispute resolution process that begins with mediation in an attempt to encourage a mutually agreeable settlement and moves to arbitration if mediation is unsuccessful.