Levin and Co

question 64

Multiple Choice

Levin and Co. is a group of oil refineries that has been in the news recently. The company had to stop production for over two weeks because their key supplier refused to sell them crude oil at the old prices. Even after rounds of negotiations, the supplier refused to give in to the demands of Levin and Co., and finally, the company had to acquire the raw material from the same supplier because alternative suppliers, though abundant, could not provide the quantities the company demanded at such short notice. This shows the role of ________ in increasing the power one enjoys.

• A) alternatives
• B) dependence
• C) abundance
• D) substitutability
• E) exchange

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Definitions:

Traditional Grievance Procedures

Established processes through which employees can raise and resolve issues with management regarding working conditions or violations.

Workplace Decision-making

Involves the processes and methodologies used by organizations to make informed choices and strategies related to their operations and human resources.

Employees

Individuals who are hired by a company or another person to perform work in exchange for compensation.

Legal Obligation

A duty bound by law which requires an individual or organization to follow a certain course of action or refrain from certain acts.