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What Is Meant by the Term "Best Practices"? Why Does

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Essay

What is meant by the term "best practices"? Why does it matter whether a company utilizes best practices in performing the activities comprising its value chain?


Definitions:

Mediation

An alternative method of resolving disputes where an impartial third party aids those in disagreement to come to a consensus that is agreeable to all involved.

Picket Line

A boundary established by striking workers outside an employer's premises, meant to discourage others from entering the site during a strike.

Discharged Workers

Employees who have been terminated from their job by their employer.

Employer Initiative

Actions initiated by employers to improve workplace conditions, productivity, or relations with employees, often including innovative practices and policies.

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