The Two Most Common Forms of Participative Management Are Works

question 73

True/False

The two most common forms of participative management are works councils and board representatives.

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Definitions:

Consideration

Consideration is something of value exchanged between parties in a contract that makes the agreement legally binding.

Ethical Obligation

A moral responsibility to act in accordance with ethical principles.

Firm Offer

A legal concept in contract law where an offeror is bound to keep an offer open for a specified period, making it irrevocable even without consideration.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another when the latter has relied on that promise to their detriment.