...The ongoing negotiations between The Ontario Public School Boards’ Association (OPSBA), the government and the Elementary Teachers’ Federation of Ontario (ETFO) have once again broken down. Negotiations and disputes between teachers, management and the government can get heated, especially when all parties have different views. Craig’s model provides a more systematic approach to IR issues than that of Dunlop and can be used to examine the temporal effect though the feedback loop. Craig presented the input-output model of industrial relations system in the late 1960s. In his model, the actors and the context are similar to those of Dunlop’s model. The main components of Craig’s model are: (a) the inputs or the goals, and the values and power of the actors; (b) mechanism for the conversion of inputs into outputs; (c) the outputs of the system are the financial, psychological and social rewards for the workers. The output is in the form of the rules, which govern matters such as pay, working conditions, and hours of work. In essence, Craig’s model proposes that external inputs from the environment (e.g., legal, economic, political, etc.) impact the actors of the IR system (e.g., labour, management, government) and that through a series of conversion mechanisms (e.g., collective bargaining, third-party interventions, etc.) the parties convert the external inputs as well as the internal inputs (e.g., the goals and values of the actors) into both organizational (e.g., management...
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...Police Strike B. Legislation 1. Wagner Act 2. New York Executive Order 49 IV. Collective Bargaining A. Wisconsin B. Executive Order 10988 C. Taylor Law D. PATCO E. Opposition F. Advocacy V. Summary VI. Bibliography Labor Relations Today, union membership is at an all time low. It has been steadily declining since the 1980’s. Private sector union membership has been affected the most, while that of the public sector has remained relatively strong. Collective bargaining allows employees a voice regarding their wages, benefits and working conditions. The need for unions was a direct result of the unfair labor practices employed during the Industrial Revolution beginning in the late 18th century and continuing on into the early 20th century. During the Industrial Revolution, government adopted a hands-off attitude towards business. Therefore, business owners could treat their workers however they wished. It is largely due to the unsafe conditions, abuse of workers, and the employees’ lack of a voice over their employment that labor unions first came into existence. The earliest unions were established as “friendly societies” that charged dues to be used to assist workers during unemployment or illness. It wasn’t long before they grew into organizations seeking to gain improvements for workers through the use of strikes and collective...
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...Should Public Employees Be Allowed to Strike? Public sector employment involves working for any “local, state or federal agency”, effectively making the government the main employer for all public sector workers. Organized labor in the US has been a big part of the public sector since the early 1900’s, but this arena has seen some drastic changes occur in the last century. Looking at the data, it is clear to see that union membership has declined from 1/3 of the nationwide non-agricultural work force, to a mere 12.3% in recent years. Since then though, we also see a sharp decline in private sector unions, but interestingly enough, there was an increase in public-sector union membership, which is now estimated to be around 7.9 million employees. In addition, numerous economists agree, and have stated time and time again, that public sector unions and the political power they currently hold actually increases government spending, by making public goods and services unavailable through strikes, and by skewing the overall pay grade for public sector jobs at a National scale. The main problem being, that the overall demographic of union members in the last 50 years has dramatically changed. To put it in perspective, the public sector usually a higher wage for lower end jobs when compared to the private sector. The Bureau of Labor Statistics released its data and concluded that the average median pay for office clerks actively working in the public sector was $27K in 2005, the average...
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...Final Report on Union & Management negotiations Q1. Some of our best strategic moves were: 1. Building trust early in round 1 negotiation: We had realized that it is extremely critical in multi-round negotiations that trust-building is of paramount importance. Hence, right from the beginning we concentrated on clarifying our stance and the reasoning behind it. Also, we communicated early in our negotiations that we were ready to consider alternative arrangement and package deals that would work for the benefit of both Management and Union. This open stance created a collaborative environment 2. Being collaborative: In both round-1 and round-2, we could sense that Management had the upper hand and we could have adopted distributive tactics to squeeze out a larger chunk of the pie. But, we understood that taking advantage of the stronger position would only fire back in future negotiations and hence we pushed for more collaborative negotiations 3. Prepared with our planning document for each round: Throughout the negotiation exercise, we were always prepared with our planning document before entering any negotiation session and had the details of the deal accessible for quick reference. The planning document helped us immensely while seeking alternative solutions or package deals to resolve deadlocks. It also helped us greatly in justifying out stance and we could offer the economic or managerial facts in our discussions more often and at right time. 4. Building personal connections...
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...Introduction This paper will talk about the employment relations from two perspectives, a unitatist perspective and a pluralist perspective, and then make an analysis of the Australian Waterfront Dispute 1997-1998 from these two perspectives. In order to make clear the changes of the stevedoring industry in Australia, one has to understand the disputes occurred between 1997 and 1998. These disputes were not simple because they demonstrated the employment relations in the industry or even the whole economy (Trinca and Davies, 2000). Thus, what is the Australian Waterfront Dispute 1997-1998? And how it happens and changes? About these two questions, the paper will give a clear outline on the changes and related issues of the Dispute in its third part. And to be in accordance with the question requirements, the paper will also tackle what are unitarist and pluralist perspectives in the second part. The detailed information about these two perspectives are based on the PPTs in class and related theories, as well as some philosophical ideas. After clarifying the two perspectives, making an analysis of the Australian Waterfront Dispute 1997-1998 is essential to answer the question. As mentioned, this section will be included in the third part. Now it comes to the last part, the conclusion part. In this part, the paper will give an overall evaluation on the two perspectives in the process of dispute changes, and show the author’s standpoint on this issue. Analysis of Australian...
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...| | In response to the statement “Labour unions only exist today because government, and the law, has supported them since 1944. They engage in economically damaging strikes and do not served any useful function. Management should be allowed to manage and unions should be disbanded.”, I will show how labour unions still play an important role in labour relations with the following topics: I will explain the role of the state and how the development of labour laws support unions; how labour strikes socially and economically affect a union; the function of unions, and finally management’s right to manage within the union environment. To start, the state sets out rules pertaining to unionization and collective bargaining. By setting out these rules the state is accommodating the demand of the employees and in turn maintaining its legitimacy in the public’s opinions. (Athabasca University, 2015, pp. 2-4) The state also regulates the relationships between the employer and the employee by means of Labour Laws. These Labour Laws relate to the right of an employee to join a union and engage in the collective bargaining process. Under the Labour Law, employees are able to apply to the Labour Board to form a bargaining unit. Once the bargaining unit has been formed, the union will establish that they have signed the majority of the workers up to be union members. Once this has been established the union will be granted certification by the Labour Board and the employer will be required...
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...1. What are the key exposures to international risk that MNCs have to consider? P. 13-17 - international economic conditions … if conditions weaken, income of consumers becomes relatively low, consumer purchases of products decline and an MNC’s sales in that country may be lower than expected … results in reduction in cash flows and valuation - international political risk … foreign government may increase taxes or impose barriers, consumers may boycott if friction between countries - exchange rate risk … foreign currencies to be received suddenly weaken against dollar, MNC will receive lower cash flows, cash outflows in foreign currencies are exposed to movements but in opposite direction Using the valuation (model) of an MNC, illustrate in detail the impact of these key exposures on an MNC’s value. Make sure to explain all your notation and assumptions. - cost of capital is influenced by the return required by its investors … if there is suddenly more uncertainty surrounding the cash flows, investors may only be willing to invest in the MNC if they can expect to receive a higher rate of return - consequently, higher level of uncertainty increases the return on investment required by investors and the MNC valuation decreases 2. What are the theories that explain why firms become motivated to expand their business internationally? Discuss each. p. 6-8 - comparative advantage … specialization by countries can increase production efficiency - imperfect...
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... 1.1 Trade union is an association or group of workers in any tradefor the purpose of protecting the interests of the workers. (2) 1.2 Name THREE of the largest trade unions in South Africa. (3) * COSATU- Congress of South African Trade Unions * FEDUSA – Federation of Unions of South Africa * NACTU- National Council of Trade Unions * COSAWU- Confederation of South African Workers` Unions 1.3 Strike is when workers stay away from work to force management to accept their demands(grievance). (2) Picketing is a form of protest in which people congregate outside a place of work or location where an event is taking place or Picketing, act of patrolling a place of work affected by a strike in order to discourage its patronage, to make public the workers' grievance (2) 1.4 Salary increase/ living wages, improvement of working conditions( hours of work/leave/ physical) (2) 1.5 List TWO responsibilities of trade unions in the table below. (4) Responsibilities of trade unions | Negotiate with employers to improve the working conditions of workers...
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...Introduction In recent times the Trinidad and Tobago industrial relations climate has been experiencing heightened activity. This has been characterized by the numerous strikes and news reports of the actions and statements of the principal actors involved. The recent TCL strike (Newsday, 2012), statements threatening strike action by PSA president (Guardian, 2010), and threats to the government for a nationwide strike (CARICOM News Network, 2011) all give credence to the concerns of the ECA “that the industrial relations climate will become increasingly adversarial”(Business Guardian, 2011). This type of conflict and balance of power issues in the long-term can have adverse economic consequences as well as a negative effect on international competitiveness. The term ‘Industrial Relations’, in a broad sense, covers the employment relationship between employers and employees either directly or through their representatives. An explanation of Industrial Relations which clearly identifies the principal actors is:- “the relationships between employees and employers within the organisational settings. The field of industrial relations looks at the relationship between management and workers, particularly groups of workers represented by a union. Industrial relations are basically the interactions between employers, employees and the government, and the institutions and associations through which such interactions are mediated” (Naukrihub.com). Actors and their roles ...
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...effective campaign speeches. He had promised that Britain would catch up with “the white heat” of technological change. Wilson had successfully linked the Labour Party to modernisation in contrast to what were described as the “wasted years” of the Conservative government. The Labour government seemed to be more in touch with the social and cultural trends of the 1960s. Modernisation of the British economy was one of the key priorities for the Labour government. By 1964, it was widely accepted that Britain was lagging behind other countries such as West Germany and Japan. Britain’s economy seemed to be trapped in the cycle of “stop-go”, with bursts of prosperity always leading to inflation, runs on the pound snd regular crises over the balance of payments. Reorganising the economy to break out of this cycle was the key aim of Wilson’s government in 1964. Moreover, Labour inherited a deficit of about £800million. The two classic economic solutions to this kind of problem were deflation and devaluation. But Wilson and his Chancellor of Exchequer, James Callaghan, refused to do neither. Instead, Wilson was convinced that these problems could be fixed by careful management and planning. A new department, the Department of Economic Affairs (DEA) was set up, led by George Brown and a National Plan had been drawn up. He had set growth targets and devised a national system of “economic planning councils”. The aim was to secure the restraint needed to prevent inflation rising which the...
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...MG 420 Labor Relations 29 April 2012 Labor Relations Research Assignment 1. Define and discuss the term "collective bargaining." Include and discuss [showing relevance or applicability] at least one reference found in our text, along with a current web-based news item/magazine article about a real life example of a collective bargaining action. Write a succinct and complete summary on the contents of the article you've provided along with your critical comments about that article. Support your findings with referenced research. (5 points) Collective Bargaining allows employees and union workers to negotiate certain terms and conditions of the workforce such as (compensation) salary benefits, hours, vacations and holidays; (policies and procedures) layoff, promotions, overtime, medical ,safety, etc) and (employee rights) seniority rights, job standards, workplace rules. Other collective bargaining compensation items will generally include employer rights and responsibilities, union rights and responsibilities and dispute resolution. Thereby allowing employees an opportunity to address negotiation terms in their own behalf gives working people a voice in bettering their quality of live for themselves and their family. “Employees shall have the right to self-organization, to form, join, or assist labor organizations, to bargain collectively through representatives of their own choosing and to engage in other concerted activities for the purpose of collective bargaining...
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...owners and player; (2) the desire of the parties to assure competitive balance and keep general health of the league and its market opportunity. B. COLLECTIVE BARGAINING - GENERALLY: Is a process by which a group of workers of an industry bargain or negotiate as a collective whole (unit) with the management to determine the working conditions, benefits, and salaries of the industry. Governed by: Nation Labor Relations Act. PLAYING FOR DOLLARS: LABOR RELATIONS AND THE SPORTS BUSINESS 7-13 (1996) Sports Industry Model – three main participants in the relations’ function are government, management, and labor; government’s role is primarily the regulator of the other two parts. Government: Federal Government regulates with its 3 branches, National Labor Relations Act of 1935 is framework, NLR Board and federal courts interpret and apply the law to collective bargaining, strikes, and antitrust policy – substantial effects on sports industry ♠Management: Operate through league structures and team ownership, provides for the planning, supervision, and control of corporate enterprise decisions. ♠Labor: Refers to players and their unions. The objective of the sports union is to promote its effectiveness in collective bargaining. In Achieving its objectives the union must: (1) Engages in organizing its membership for solidarity. (2) Negotiates contracts applicable to all players. (3) Uses pressure tactics such as strikes and picketing if necessary. (4) Enforces the terms of the negotiated...
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...we need to allocate our resources to best use. Inflation is bad for growth because it is unpredictable. Zero inflation is bad because we risk deflation. When inflation is high, growth is low. That’s why stable, low inflation is key. 3. What are the risks and rewards of writing and holding options and discuss the maximum gain, maximum loss and breakeven point. Option writer for a call- receive a premium and are obligated to sell at strike price Option writer for a put- receive a premium and are obligated to buy at strike price Option holder for a call- pay a premium and have the right to buy at the strike price Option holder for a put- pay a premium and have the right to sell at the strike price When you are an option holder for a call, the maximum gain is infinite. The maximum loss is the premium you paid, and the breakeven point is the strike price+premium paid. When you are an option holder for a put, the maximum gain is the strike price-premium paid, the maximum loss is the premium paid, and the breakeven point is the strike price-premium paid. When you...
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...FIN-567: Options and Financial Futures Markets Final Project By Jacob C. Harris 19 Dec 2015 The objective of this project is to develop an investing strategy for a portfolio that consists of $500,000 of stock from ten different companies, $500,000 worth of US Treasury notes ranging from two to five years in maturity, and another $500,000 in money markets. The money market investment is considered safe and will provide a return at the risk-free rate. The market outlook for the next 18 months indicates a flat to slight downturn prediction. Given this predication, I developed a strategy of using various call and put options on a few of the stock assets in the portfolio in order to provide some income in a flat to down market. I will write covered calls to generate income and protective puts in order to limit the amount of losses in case of a dramatic drop in the market. The US Treasury notes portion of the portfolio is a ladder strategy consisting of various maturity dates to generate a steady stream of income from coupon payments over the next five years. The money market assets will also provide a steady stream of income at the risk-free rate equal to the rate on three-month US Treasury bills. My hedging strategy is to be conservative in a flat to down market that is predicted for the next 18 months. The portfolio of stocks consists of companies in various sectors of industry in order to diversify the unsystematic risk. I have two conglomerates...
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...Financial Markets Lecture 6 Overview Futures, Options, Swaps Financial Derivatives Commodity Derivatives 1 Derivatives – Overview • Financial instrument or security whose payoffs depend on another instrument or security • Price of instrument a derivative of underlying security – Farmer who sows a crop in June, faces uncertainty over the price received at harvest time in September – Merchant/ consumer faces a price in September as well – Farmer, merchant negotiate on a price in June for settlement in September • Chicago Board of Trade 1848 • Yodoya rice futures in 1650 • Forwards, Futures, Options, Swaps 2 Derivatives - Definitions • Forwards – involves a contract initiated at one time, performance in accordance with the terms of the contract occurs at a subsequent future time • Futures – type of forward contract with standardized and closely specified contract terms – – – – Traded in organized exchange Standardized, specific quantity, delivery date, mechanism Performance guaranteed by clearinghouse Margins – good faith deposit with the exchange • Option – the right to purchase underlying good at a specific price until a specific date – Calls and Puts • Swaps – Agreement between two or more parties to exchange sequence of cash flows over a period in the future 3 Derivatives - Applications • Price risk elimination • Speculation • Market completeness • Information efficiency • Trading efficiency 4 Derivatives - Markets • Commodity Derivatives:...
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