The Last Step in the Grievance Process for Nearly All

question 55

Multiple Choice

The last step in the grievance process for nearly all union contracts in both the public and private sector is usually:

• A) A hearing before the NLRB
• B) Mediation by the Federal Mediation and Conciliation Service
• C) A unilateral decision by management
• D) Final and binding arbitration

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Definitions:

Minimum Return

The lowest acceptable rate of return on an investment, often used to guide financial decisions and risk management strategies.

Transfer Prices

Prices charged for goods, services or intangible property transferred within an organization between divisions or subsidiaries.

Decentralized Units

Subsections of an organization that operate semi-independently, making their own decisions and handling their specific operations.

Investment Turnover

A financial ratio that measures the efficiency of a company's investment in its assets by comparing net sales to average total assets.