BUS 101 1st Edition Lecture 13 Outline of Previous Lecture- Section 12: Review for Exam Stakeholders Reasons for adopting stakeholder theory Economic system Ethical theory Supply chainOutline of Current Lecture - Section 13: Employees Employees & Businesso Landscape of employeeso Acting v. Waiting o Relationship of employees & businesso Bargainingo How to turn into a win-winCurrent Lecture- Section 13: Employees Employees & Businesso Landscape of employees – all fall into one category 66% - private sector, at-will employees- May be fired or quit at any time, for almost any reason 25% - public sector, government employees 9% - private sector with unions, use contracts for worko Acting V. Waiting If inefficient, the practice will end on its own- Slavery- Democracy – without revolution, if we waited, we will eventually come outfrom under Britain’s control like others dido The relationship of employees and business Supply creates a win-win situation, having market leverage Investors have ability to take their business elsewhere- Employees and investors fight over their shares of moneyThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute. When an employee is fired, the company does not feel the impact. People are replaceable- Blue-collar workers are more expendable, and it is not easy for them to find another job. - Private sector has mobility, as they have valuable skillso Started the collective bargaining movement, give employees more leverage (1910)o Bargaining At will employees have 100% of power to leave job Union workers have 50/50 leverage, no one gets everything that they want- Negotiate, not dictate- Results in a free marketo How to turn this into win-win Most significant government regulation- 1964 Civil Rights Act, Lyndon Johnson o Affects every aspect of
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