Please go through the below mentioned web id for info. regarding the theories of industrial relations
Reference:
What Are the Different Theories of Industrial Relations? | eHow
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 co-operative, 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, and it reinforces 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.