Define Industrial relations. The Word industrial Relations has two terms‚ ”Industry” which refers to the productive activity which any individual or group or individuals are engaged and the word “Relations” represents the relationship between in the industry between the employer and the employee. Industrial Relations explains the relationships between the management and the employees directly or indirectly to the employer. Mainly IR cares about the relations between employers and the worker within
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The major difference between a command economy and a market economy is that a command economy is told what to do by the government. A market economy does things for the people‚ the people decide what they want. The command economy is told what to produce‚ who to produce to‚ and how to produce by the government. The market economy is told is told what to produce‚ who to produce to‚ and how to produce by the people. I think that profit is the best one because you will still have money left over after
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Mezirow’s Theory of Perspective Transformation Mezirow’s Theory of Perspective Transformation Adults today are the products of their individual histories and experiences‚ which influence their attitudes‚ thinking processes‚ and conceptualization of their worlds. John Mezirow believed that adults can be transformed from these experiences; however‚ the transformative learning involves critical self-reflection (Mezirow‚ 1990). Mezirow understood that adults can be transformed through a process
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Industrial relations is used to denote the collective relationships between management and the workers. Traditionally‚ the term industrial relations is used to cover such aspects of industrial life as trade unionism‚ collective bargaining‚ workers’ participation in management‚ discipline and grievance handling‚ industrial disputes and interpretation of labor laws and rules and code of conduct. In the words of Lester‚ "Industrial relations involve attempts at arriving at solutions between the
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Concept of Industrial Relations: The term ‘Industrial Relations’ comprises of two terms: ‘Industry’ and ‘Relations’. “Industry” refers to “any productive activity in which an individual (or a group of individuals) is (are) engaged”. By “relations” we mean “the relationships that exist within the industry between the employer and his workmen.” The term industrial relations explains the relationship between employees and management which stem directly or indirectly from union-employer relationship
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several different ways. The two main economies that seem to act as basic levels of functioning economies are command economies and market economies. These two economies work in various ways and provide interesting things for consumers and businesses. However‚ even though a command economy and a market economy have various similarities and differences‚ a market economy is ultimately more beneficial for a country. Command economies and market economies have different degrees of government
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borrowers through indirect financing. Some examples of financial intermediaries are banks‚ credit unions‚ insurance companies and pension funds. The existence of financial intermediaries helps to solve and reduce market imperfections. Asset transformation theory deals with difference in the preferences of lenders and borrowers. Lenders also known as savers‚ prefers to have low risk and short term claims with high interest income. The deposits from lenders tend to be in small amount. Borrowers also
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Three most important things in the history of the Industrial Revolution; 1) Urbanization: By industrial revolution migrations started from rural areas to the urban areas. So new economic incomes appeared apart from agriculture. 2) Steam Engine: In my opinion it was the most important invention during the industrial revolution. It was appeared in 1698 and people improved it in further years. People were able to transport wood‚ fur and coal by these trains. Also this steam engine used in ships‚
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June to 25Th June‚ 2013. 1.4 Purpose of Attachment: To expose the student to the job market. 1.5 Purpose of The Report: To give an account of events that happened during the industrial attachment period. 2.0 BODY: 2.1 First week: On the first day of the attachment‚ I had an orientation on the importance of industrial attachment to the job market for an hour. Later in the day‚ I was introduced to the importance of a server managed by a system administrator in a company. I was asked to install
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MARKET ECONOMY | PLANNED ECONOMY | * The market economy is not run by a high authority. Instead it is run by many individuals regarding production‚ consumption and work. * The market is free and prices can be of a wide range * The market economy is intended for a middle/upper class. This is because people can earn as much money as they want‚ upper class people don’t have to distribute a profit evenly. * The theory of the market economy is to give people the capability to earn as much
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