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Finance & Accounting
Pages 15 (3765 words)
In the world, every single person has their own interest and negotiation is a process through which the person can save one’s interest. Negotiation is a part of the day-to-day life. Through the process of negotiation both the parties involved can have their rights to save their own interests.
Negotiation is there in the corporate as well. When it comes to the corporate, negotiation is known as collective bargaining. Collective bargaining is a process where both managerial officials and the union can place their opinion and they can have a mutual agreement on their interest (Holley, W. H. & Et. Al., “The Labor Relations Process”).
Each and every person has the power to fight for their own interest, but when it is collective bargaining both the parties will have a systematic negotiation, so that both the parties remain satisfied. Collective bargaining has become a famous and a common aspect in almost every organization.
Collective bargaining is a politically powerful arrangement. The managerial board decides to negotiate with their employees or with the union, so that they can have a continuous and a peaceful work process in the future (Holley, W. H. & Et. Al., “The Labor Relations Process”).
In the relation to the above discussion, one incident can be observed. United Steelworkers (USW) has successfully bargained various different provisions to improve several facilities and the safety of the workers working at ArcelorMittal at 14 plants in around eight states in the US. In fact, for the on-site employees’ health and safety they have appointed few representatives and a union safety committee. ...
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