Please go through the below-mentioned web ID for information regarding the theories of industrial relations.
Reference:
http://www.ehow.com/facts_6323679_di...s_.html#page=5
Unitarist Theory
The unitarist theory of industrial relations emphasizes the co-dependency of employers and employees. To a unitarist, an organization is an integrated, friendly, and collaborative whole. Unitarists do not favor employee unions. They believe that loyalty to such an organization would detract from employee loyalty to a company, disrupting the bond between employer and employees.
Marxist Theory
The Marxist theory of industrial relations claims that capitalism breeds corruption and greed, leaving the employee to suffer while corporations rake in profits. Marxists claim that institutions would be far better employers if run as state organizations, while compensation would be standardized to promote a cooperative, non-competitive work environment.
Radical Theory
Not to be confused with Marxist theory, radical theory sees industrial relations as a necessary (but not ideal) result of employees protecting themselves from powerful big business. Radicals believe that profit-hungry corporations have no regard, aside from legal obligations, for their employees and are willing to profit off of them at any available opportunity.
Pluralist Theory
Pluralist theory emphasizes the representative function of management and trade unions, reinforcing the value and legitimacy of collective bargaining. Pluralists recognize organizations within management and within unions as legitimate. They believe that management's primary function is to coordinate, communicate, and persuade rather than control or demand.
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S.N.Raju.U.