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Explain Industrial Relations.
Industrial Relations: it is that aspect of management that deals with the manpower of the enterprises where machine operators, skilled managers or workers. This is also defined as the relations in between employees and employers in the industry.
Peaceful and cordial Industrial Relations in between the employees and employer are highly necessary for increasing productivity and the economic development of the country. By good industrial relations only, the enterprise can move in the direction of the welfare of the employees and the management of the relationship. Industrial relationship is the composite result of approaches and attitudes of the employees and management towards each other regarding planning, direction, coordination and supervision of the activities of an organisation with a minimum of human effort and friction along with an animating spirit of cooperation and with appropriate regard for the genuine well being of all members of the organisation.
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The owner of Firewood-2-Go is considering buying a hydraulic wood splitter which sells for $50000. He figures it will cost an additional $80 per cord to purchase and split wood wit
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