how businesses are organized
A _____________ is a business that is owned by a group of people and operates under a license. It is the most complicated form of business. You can tell that a business is one of these if the abbreviation Inc. follows the company’s name. Inc.
what is corporation
In this process, officials from the union and the company meet to discuss the workers’ contract. The contract sets the terms for working at the company. These talks often focus on wages and benefits. Benefits include health insurance, sick days, and holidays.
what is Collective bargaining
Labor unions have several tools to try to advance their cause. One method unions use is to call a ___________. In this, all union members refuse to work. This action is designed to shut down the company or the industry in which the workers labor. The idea is that without employees, one company—or all companies in the industry—will be forced to meet the union’s demands.
what is a strike
businesses have responsibilities to their workers. They are required to maintain a ________ workplace. They must also treat all workers fairly and without ____________.
what is safe
what is discrimination
the legal responsibility for something such as a action or a debt
what is a liability
sole proprietors have no limits on their _____________. This is a legal responsibility, for the business. This can be a problem if the business cannot pay its debts or loses a lawsuit. Then the owner’s personal property—such as a home or car—may have to be sold to pay the business’s debts.
what is liability
_________________ is an organization of workers that seeks to improve the wages and working conditions of its members.
what is a Labor union
The basic unit of each union is the _________. This consists of all the members of a particular union who work in one factory, one company, or one geographical area.
what is a local
Revealing or making public information about a corporation is called ___________. The information is published to give investors full and accurate information. People can analyze the facts before they choose to invest money in the company.
what is transparency
a government document granting permission to organize a corporation
what is a charter
is a business owned by one person. Most businesses in this form are small businesses. Usually they serve the area in which they are located. You see these businesses every day. Dry cleaners, auto repair shops, beauty shops, and local restaurants often take this form.
what is sole proprietorship
These organizations provide goods and services without trying to make money. Many different types of organizations are these. For example, public schools, public hospitals, labor unions, Boy Scouts, and Girl Scouts are examples.
what is a nonprofit organization
A union whose members all work at the same craft or trade is called a ______________.
fast food restaurants and hotel chains are examples of what type of business?
what is a franchise
the people elected by the shareholders of a corporation to act on their behalf
what is board of directors
______________ is a business that two or more people own and operate together. this is formed when two or more people sign a legal agreement.
what is partnership
Many companies do not like the union shop. In some states, companies have convinced state governments to outlaw these arrangements. Nearly half the states have __________________, which ban union shops.
what is right-to-work laws
Striking workers usually stand in public view carrying signs stating that they are on strike. This tactic is called ______________. The goals are to embarrass the company and to build public support for the strike.
what is picketing
To protect stockholders, corporations have to release _____________ on a regular basis.
what is financial reports
a business owned by two or more people
what is a partnership
____________ is a business in which the owner is the only seller of a certain product in a certain area. The owner pays a fee to the supplier for that right.
what is a Franchise
Employers also have ways to try to pressure unions. Their strongest tool is the ___________. In this, the employer does not let workers enter the workplace. The employer hopes that the loss of income will force workers to accept company terms. During this, the company often hires replacement workers
what is a lockout
When the parties cannot agree on a contract, they have other options, or choices. They can try ____________. This is where they bring in a third party who tries to help them reach an agreement. They can also choose _____________. With this method, the third party listens to both sides and then decides how to settle the dispute.
what is a meditation
what is a arbitration
In an extreme situation, the ____________ can temporarily take over a company or an industry if it is going to affect an entire country.
what is a goverment
the money used to run or expand a business
what is a financial capital