This is an evaluative question, the answer to which is inevitably long due to the multiplicity of definitions, comparisons, and the transitory nature of the concept of Industrial Relations (IR) in line with the changing business models and strategies globally. Let me present my response briefly so that experts can elaborate further.
Defining Industrial Relations
The concept of "Industrial Relations," generally defined as Employee Relations, could also be defined as Employment Relations because of the increasing intervention role played by governments post the extinction of Laissez-faire and the onset of Globalization. To provide a precise definition of the IR Strategy, it can be stated as "a set of phenomena operating both within and outside the workplace concerned with determining and regulating employment relations."
Key Factors in an Ideal IR Strategy
Regardless of the term's duration, what an organization requires is an ideal IR strategy characterized by flexibility and transparency. The key factors include unions, communication, company or organizational culture, wages (internal factors), and government policies, social values (external factors).
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