Definition of Industrial Relation?

The term 'industrial relations' usually refers to relationships between labor and capital that grow out of employment. There are two parties in the 'employment' relationships- labor and management. Both parties needs to work in a spirit of cooperation, adjustment and accommodation. Over the years state has also come to play two major industrial relations- one, as the controller of the relationship between the employee and worker and other, as an employer by setting up an extremely large public sector.

Industrial relations has been defined by the different author in different ways.

1. According to V.L. Allen:

What is Industry?

Industry encompasses a transformation process in which inputs are converted in outputs. Industry may be defined as any activity that creates utility. According to  Bangladesh labor law,-2006 Industry means any business, trade, service employment or occupation. In broad sense, industry is characterized by the existence  of the following,

                                   1. Employer and employee.
                                   2. Works on the basis of wages.
                                   3. Products or service to be produced.
                                   4. Buying and selling of labor power.
                                   5. Creation of utiliity.