chapter 5

  1. agency shop
    an arrangement whereby employees are not required to join a union,but are required to pay a service charge
  2. arbitration
    a process by which contract disputes are resolved with a decision by a third party
  3. authority
    the right to power and command
  4. budget
    a financial plan for an individual or organization
  5. capital budget
    a financial plan to purchase high dollar items that have an life expectancy of more than a year
  6. closed shop
    a term in labor relations denoting that union membership is a condition of employment
  7. fact finding
    a collecting bargaining process, the fact finder gathers information and makes recommendations
  8. goal
    a target or other object by which achievement can be measured; in the context of management, a goal helps define a purpose and a mission
  9. line item budgeting
    collecting similar items into a single account and presenting them on one line in a budget document
  10. mission statement
    a formal document indicating the focus and values for an organization
  11. objective
    something that one's efforts are intended to accomplish
  12. open shop
    a labor agreement in which there is no requirement for the employee to join a union
  13. operating bugdet
    a financial plan to acquire the goods and services needed to run an organization for a specific period of time,usually one year
  14. program budget
    the expenses and possible income related to the delivery of a specific program within an organization
  15. union shop
    a term describe the situation in which an employee must agree to join the union after specified period of time,usually 30 days after employment
  16. vision
    an imaginary concept,usually favorable of the result of an effort
Card Set
chapter 5
chapter 5