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After finding out about a unionization attempt at his company, the General Manager held a mandatory meeting with the employees. During the meeting, he told employees that they didn't need a union. To prove his point, he offered the employees a 5% pay increase. The GM's actions are legal under the NLRA.
Regulatory Involvement
The extent to which government bodies or industry regulators participate in overseeing and controlling business activities or industry practices.
Start-Up Costs
Start-up costs are the initial expenses incurred during the process of establishing a new business or project, including but not limited to equipment, legal fees, marketing, and rent.
Follower Strategy
A business approach where a company decides to follow the innovations, products, or services introduced by competitors rather than lead the market.
Value Chains
The full range of activities that businesses undergo to bring a product or service from conception, through production, delivery to the consumer, and final disposal, adding value at each step.
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