Examlex
A market-oriented organization may choose NOT to deliver the benefits sought by customers because these benefits are not in the best interest of the individual or society.This is termed the societal orientation.What does this concept mean in terms of organizational justification? List three current issues where the societal orientation concept may need to be applied.
Cartel
An association of independent businesses organized to control production, pricing, and marketing of goods to restrict competition.
Labor
The human effort, both physical and mental, used in the production of goods and services.
Minimum Wage
The lowest legally permissible hourly wage that employers can pay their workers, intended to protect employees from unduly low pay.
Unemployed
Individuals who are capable of working and are actively seeking employment but are unable to find a job.
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