Often, Firms Plagued by Poor Performance Will

question 13

Multiple Choice

Often, firms plagued by poor performance will:

• A)avoid risks whenever possible
• B)increase their level of borrowing funds
• C)increase their level of new product innovation
• D)increase their level of diversification

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Definitions:

Free Rider

An individual who benefits from the goods, services, or advantages provided by a group without contributing to the cost or effort involved.

Agency Shop Agreements

Labor agreements that require employees to either join the union or pay a fee equivalent to union dues, even if they choose not to become union members.

Fair Representation

The legal duty of a union to represent all members impartially and effectively, especially in negotiations and grievance processes.

Superseniority

A privilege given to union officials that provides them higher priority over other workers in matters of layoffs and recalls, ensuring their positions are more secure.