Importance of industrial relations
Industrial relations should be prioritized in business. Especially considering globalization.
The term "industrial relations" has developed both a broad and a narrow meaning. Originally, industrial relations was broadly defined to include the totality of relationships and interactions between employers and employees. From this perspective, industrial relations covers all aspects of the employment relationship, including human resource (or personnel) management, employee relations, and union-management (or labor) relations. Since the mid-twentieth century, however, the term has increasingly taken on a narrower, more restricted interpretation that largely equates it with unionized employment relationships. In this view, industrial relations pertains to the study and practice of collective bargaining, trade unionism, and labor-management relations, while human resource management is a separate, largely distinct field that deals with nonunion employment relationships and the personnel practices and policies of employers. Both meanings of the term coexist in the twenty-first century, although the latter is the more common.
A positive relationships among the involved people in the business. The employers should have the respect for the employees in the working environment. The suppliers are also important public in the business. There should be good relation with them.
Research question: How can this concept be convenient to the marketers?