BUSINESS

1
BUSINESS LABOR

• Sole Proprietorship
• Partnership
• Corporation
• Non-Profit Organization
• Types of Workers
• Labor Unions
• Labor Unions (Organization)
• Collective Bargaining

2
SOLE PROPRITORSHIP Business that is organized by
one single owner.

• Positives
• Easiest type to organize
• Owner has the power to make decisions
• Profit does not have to be shared

• Negatives
• Unlimited liability owner is responsible for
  all debts
• Limited capital only have your financial
  resources
• Limited life if owner dies, business must be
  reorganized
• Employees hard to attract

3
PARTNERSHIPA legal joining of two or more
individuals in a business.The least common form
of business organization. Formed by a legal
agreement called the articles of partnership.

• Positives
• Additional financial capital
• Can share expensive start-up costs
• Each partner brings specific talents

• Negatives
• Unlimited liability financially responsible for
  personal as well as business debts of partners
• Limited life if partner dies, must reorganize
• Legal structure is complicated

4
CORPORATIONA business recognized by law rights
responsibilities of an individual own
property, pay taxes, sue or be sued. Corporations
are formed through a charter granted by the
government.

• Positives
• Raise through the sale of stocks/bonds
• Limited liability only responsible for what you
  invest in company
• Professional managers
• Unlimited life many professionals involved,
  business does not need to be reorganized

• Negatives
• Expensive complex to start
• Owners have little control/decision making
• Government regulation/corporate income taxes
• Most difficult to organize

5
NON-PROFIT ORGANIZATIONAn organization that
operates like a business to support its members.

• Structured much like a corporation, but do not
  operate for a profit.
• Non-profits seek to provide a service to its
  members, or the community in general.
• Examples Churches, YMCA, State Employees Credit
  Union

6
TYPES OF WORKERS

• Blue-Collar Worker category of workers employed
  in crafts, manufacturing, and non-farm labor.
• White-Collar Worker category of workers
  employed in offices, sales, or professional
  positions.
• Agricultural Worker category of workers
  involved in farm labor.
• Categories of Skill
• Unskilled Worker people whose job requires no
  specialized training.
• Semi-skilled Worker people whose job requires
  some training in job-related skills, often modern
  technology.
• Skilled Worker people who has learned a trade
  or craft either through a vocational school or as
  an apprentice.
• Professional highly educated individuals with
  college degrees and usually additional training.

7
LABOR UNIONS

• Purpose organized to improve wages and working
  conditions for its members.
• History Labor unions became prevalent during
  the early 1900s as the industrial revolution
  changed the US economy.
• Unions were instrumental in improving working
  conditions in factories, working hours, wages,
  and creating child labor laws.
• Recently labor unions have seen a decline in
  membership because of the decline in blue collar
  jobs in the US, and the movement of manufacturing
  jobs overseas.
• Examples
• Craft Union union made up of skilled workers in
  a specific trade or industry.
• Industrial Union union made up of all workers
  in an industry regardless of job or skill level.
• AFL-CIO American Federation of Labor Congress
  of Industrial Organizations. Organization that
  combined Craft and Industrial unions.

8
LABOR UNIONS (2)

• Levels of Organized Labor (Labor Unions)
• Local Union members of a union in a factory,
  company, or geographic area.
• National Union Individual industrial or craft
  unions that represent local unions nationwide.
• Federation (AFL-CIO) represents 13 million
  people in US and other countries.
• Types of Union Agreements
• Closed Shop workers had to belong to the union
  in order to be hired by a company. (Taft-Hartley
  Act 1947 illegal)
• Union Shop must join union after being hired.
  (States can ban)
• Right-to-Work-Laws States laws preventing
  unions from forcing workers to join.
• Federal Regulation National Labor Relations
  Board

9
COLLECTIVE BARGAINING

• Collective Bargaining process by which union
  and company meet to discuss the terms of workers
  contracts.
• Mediation 3rd party brought in to help reach an
  agreement not forced decision.
• Arbitration 3rd party listens to both sides and
  makes a final decision.
• Strike workers in union refuse to work until
  demands are met.
• Picketing workers carry signs outside business
  to alert public of issues workers have with the
  company.
• Boycott workers urge public to refuse to
  purchase goods or services due to worker
  treatment.
• Lockout company blocks workers from entering
  building until workers agree to a contract.