How Business Works, Chapter 1How Business Works, Chapter 02How Business Works, Chapter 11.Affirmative action (pg 381) - actions initiated by the Equal Employment Opportunity Commission (EEOC) to correct past and current actions of discrimination by forcing businesses to give preference to underrepresented minorities in hiring and promotion2.AFL-CIO (pg 376) - the merger between the American Federation of Labor (AFL) and the Congress of Industrial Organizations (CIO) that occurred in 19553.Age Discrimination in Employment Act of 1967 (ADEA)(pg 381) - the act that amended Title VII to include age in the definition of discrimination4.Agency shop (pg 378) - a business where employees can choose to join or not to join the union, but all members must still pay dues5.American Federation of Labor (AFL)(pg 376) - a new labor organization founded after the Knights of Labor in 1886 to improve working conditions and standardsof living for workers by embracing the practice of strikes to achieve their goals6.Americans with Disabilities Act of 1990(pg 167, 381) - laws that prohibit discrimination based on physical and mental handicaps that will not affect their job performance and require businesses to make reasonable accommodations to assist disabled applicants or employees7.Arbitration (pg 160, 379) - the act utilizing an independent individual to review the facts of a disputed situation and to make a decision8.Authorized strike (pg 379) - a strike endorsed by the union9.Binding arbitration (pg 379) - the decision of the neutral third party, or arbitrator,is final10.Boycotting (pg 379) - action union members and those sympathetic to the union members refuse to buy a business's product, sell to their business, or accept employment at their business11.Cafeteria plans (pg 376) - compensation plans that a business provides that allow each employee to choose between options regarding cashcompensation, fringe benefits, work-life arrangements, and non-cash compensation to select the package that best meets his or her needs12.Civil Rights Act of 1991(pg 381) - amended Title VII to provide victims of discrimination the right to a jury trial and permitted victims to seek punitive damages13.Closed shop (pg 378) - a business where all employees must join the union; made illegal in the US by the Taft-Hartley Act14.Collective bargaining(pg 378) - the negotiation process in which members of the union approve or reject the contract through a majority vote15.Commission (pg 372) - compensation where a person is paid a percentage or as a function of the amount of sales in a given period16.Congress of Industrial Organizations (CIO)(pg 376) - the organization that occurred after many specific industrial unions came together to focus on worker's needs in specific industries, such as steel, mining, communications, and manufacturing17.Cooling-off period (pg 379) - the period of time over which striking employees are required by the US federal court to return to work18.Defined benefit plan(pg 373) - a company-sponsored retirement plan that guarantees the retiree a monthly income, every month, for the rest of their lives; the business must estimate when the employee will retire, how long the employee will live, and how much the retiree will receive during each year of their retirement19.Defined contribution plan(pg 373) - a company-sponsored retirement plan where the business and/or employees contribute money to a special fund each pay period, and then invest the money at the direction of the employee and earns a return20.Department of Labor (DOL)(pg 380) - government agencies empowered to enforce employment law21.Dependent care (pg 374) - a service in which the business provides care for children, elderly parents, and other dependents of an employee22.Discrimination (pg 381) - an employment act based on race, religion, creed,sex, or national origin23.Educational benefits (pg 374) - services a business provides to employees in which the business provides training or pays for outside education such as college or technical schools24.Employee training (pg 367) - the training step, following orientation, in which the employee is instructed on the technical or skill-based training25.Employment agencies (pg 365) - business and governmental agencies that specialize in finding employees for others26.Employment application(pg 365) - a document, created by the business, which the applicant completes to provide information requested by thebusiness such as address, work experience, education, special talents or abilities27.Employment Retirement Income Security Act of 1974 (ERISA)(pg 373) - the US government act that regulates employer-sponsored defined benefit and defined contribution retirement programs28.Equity (pg 10) - money contributed by the owners of a business29.Executive search firms (pg 365) - employment agencies that specialize in finding applicants for management positions30.Expectancy theory (pg 369) - theory that employees are motivated by the expectation of reward; if an employee works hard and performs well, then the employee expects to be rewarded, so the business must clearly communicate how performancewill be measured and rewarded31.Fair Labor Standards Act (FLSA)(pg 166, 380) - the act that requires employers to pay employees no less than minimum wage, and to pay higher compensation for working overtime32.Family and Medical Leave Act of 1993(pg 167, 381) - the law that requires businesses to ensure job security for those who need medical or sick leave to start a family with children, take care of family members because of illness, or recover from personal illness for a period of twelve months and can be paid or unpaid33.Fixed salary (pg 372) - a salary paid on a fixed basis, where the employee ispaid a stated amount per pay period, regardless of the hours worked34.Flex time (pg 374) - a work schedule where an employee can determine his or her own schedule35.Fringe benefits (pg 372) - employee benefits provided by employers such as sick pay, vacation pay, maternity or paternity leave, health insurance, life insurance, and retirement benefits36.Golden parachutes (pg 375) - termination agreements between a business and selected senior managers to pay the manager a given sum of money if the manger is dismissed37.Grievance procedure(pg 379) - a formal process, agreed upon in the union contract,designed to fairly resolve differences38.Gross pay (pg 372) - the compensation the business agrees to pay the employee