Need help with a response to these 4 discussions

1. From the management's perspective, a potential advantage of a strike is that it can help them reduce labor costs by forcing employees to accept wage cuts or other concessions (Katz, H.C, Kochan, T.A., & Covin, A.J.S., 2017, p. 93). Additionally, a strike can disrupt a union's operations and weaken its bargaining power, giving management an upper hand in future negotiations. However, a strike can also result in the loss of production and revenue, hurting the company's bottom line.

From the union's perspective, a strike can be an effective way to pressure management to meet the employees' demands for better wages, benefits, and working conditions. A successful strike can boost the union's membership and bargaining power in future negotiations. However, a strike can result in lost wages and benefits for the striking employees, and it may damage the union's relationship with management, making it harder to negotiate in the future.

It's important to note that strikes are generally seen as a last resort for management and unions, as they can have significant consequences for both parties and their stakeholders.

2. Advantages of a strike from management's perspective could include the ability to sustain a strike longer than employees and the ability to replace employees at a lower cost and maintain production, resulting in less of a need to resolve issues with union members. The disadvantage of a strike from management's perspective could include the loss of production resulting in lost revenue and loss of competitive edge in the industry which could be hard to regain. Public perception of a company can take a downturn as well if the company is viewed as anti-union or harsh with workers.

From the Union's perspective the advantages and disadvantages of a strike can be viewed as the same as management's. Workers need to be able to maintain the cost of living and wait out the strike to place pressure on management to meet bargaining demands. Strikes during an economic downturn or if the organization is internationally may not have the desired impact and can be risky. Another disadvantage is that workers need to be prepared for wage employment tradeoff and negotiations involving benefits.

3. A recession occurs when the economy struggles for an extended period of time. As a result, jobs are lost, companies make fewer profits and the country's economic output declines. During an economic recession, economic factors critically influence both total and relative bargaining power (Katz et al., 2017, The Economic Context, Chapter 4, p. 91). Some of the microeconomic influences are through competitive conditions such as marketing power. Total marketing power is a condition that both labor and management have in common to obtain - which is why they often work together (Katz et al., 2017, Microeconomic Influences on Total Bargaining Power, Chapter 4, p. 92). These microeconomic influences include the number of competitors and how easy it is to enter the same type of market.

At the time of a recession, the loss of jobs, financial instability and the fear of each can weaken the union's bargaining power while strengthening management's power. In contrast, a company struggling to maintain may lose bargaining power if the effects of a union walkout or strike may shut the total business down. For example, the global financial crisis of 2008 - 2009 led the airline industry to the stress of a recession. With the decline of air travel and spending, many employees lost their jobs. 27,000 union assembly line workers of Boeing threatened to go on strike due to weakened job security and the staggering increase of out-of-pocket health costs. The agreement that ended the strike did not include many of the provisions the union had opposed nor any of the requested increases in base wages other than previously-negotiated cost-of-living adjustments (Isidore, 2008, Dreamliner Delivery at Risk Section). As a result, the contractual agreement was made at a time when airlines (with about half of U.S. capacity) were in bankruptcy protection and industry losses were continuing to increase.

4. Management's Perspective:

As an advantage a strike can offer cost control measures, allowing for temporary reduction in labor expenses. The lost time during a strike may provide management with an opportunity to reassess and possibly restructure the workforce for increased efficiency. Additionally, the threat of a strike can serve as a negotiation leverage during collective bargaining, allowing management to push for better terms. However, as a disadvantage, strikes can lead to significant production disruptions, that can lead to financial losses and a possibility to damage the company's reputation. The strain on employee and management relations during a strike can have lasting effects on morale and cooperation. Firms lose profits during a strike. They try to decrease the amount of profits lost through tactics such as bringing in replacement workers for the strikers, making sales out of any available inventories, or shifting production to an alternative site (Katz et al., 2017, p.210). Also, legal and regulatory disputes may arise, that require additional resources to resolve these issues.

Union's Perspective:

Strikes can be a powerful tool used to apply pressure for improved wages, benefits, and working conditions during negotiations. The act of striking fosters a sense of solidarity among union members, improving their collective bargaining power. Varying on the circumstances, unions may obtain public support, with public support and their additional applied pressure on management they can encourage management to meet their demands. However, striking workers can face financial strain due to lost wages during the strike, also there's the possibility of job loss, especially if the strike persists.