BUSINEES LAW (URGENT ANSWER

W] Document1 - Microsoft Word ? FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW EndNote X8 Foxit PDF PDFIS Sign in * Cut Calibri (Body) 11 - A A * Le Copy ab A. , LT A === E- Find - ac Replace Select- 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Paste B I Uabe x, X A - aby Format Painter Clipboard Font A SEQ= Paragraph Styles Editing 1 4 A sound industrial relations system is considered as key to the progress and success of economic development in any country. This is because it ensures the continuity of productivity that ultimately ensures continuous employment for all from management level to the workers. A good industrial relations system can help in promoting co-operation and increasing productivity. In addition, a healthy industrial relations system improves the morale of employees. Employees work with great zeal and share a common interest with employers, i.e. to increase productivity. a ==, TIER Thus, it is evident that a sound industrial relations system is the basis to achieve higher productivity with minimum cost and yet, maximum profits. It can also increase the efficiency of employees. An economy organised for planned production and distribution, with the aim of the realisation of social justice and welfare of the society, can function effectively only in an atmosphere of healthy industrial relations. If the twin objectives of rapid national development and increased social justice are to be achieved, there must be a harmonious relationship between the employers and the employees. PAGE 1 OF 1 O WORDS De ENGLISH (UNITED STATES) 3 228% Screen... e 1. W O BPQ32... W GUIDE ... w Docu... ENG 10:07 AM 11-Feb-22 W] ? Document1 - Microsoft Word REVIEW VIEW EndNote X8 FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS Foxit PDF PDFIE Sign in * Cut Calibri (Body) 11 - A * E- A 21 Le Copy ab A 7 A Find - ac Replace Select- 1 Paste B I Uabe x x A - aly , 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Format Painter Clipboard Font Paragraph Styles Editing H L 1 2 Therefore, it is necessary to maintain a harmonious industrial relations system to enhance productivity so as to achieve high income nation status. Much of the success or failure of economic development depends on the maintenance of harmonious employee-employer relationships. Generally, industrial relations deal with the interaction between employers and employees as well as their trade unions. In the event of conflict between the two parties, a third party, i.e. the government shall play its role in helping to resolve ,( 2 PAGE 1 OF 1 O WORDS ENGLISH (UNITED STATES) 228% Screen... e o W w P o 9 BPQ32... W GUIDE ... 3 Docu... ENG 10:07 AM 11-Feb-22 W] Document1 - Microsoft Word ? FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW EndNote X8 Foxit PDF PDFIS Sign in * Cut Calibri (Body) 11 - A ab A E E ALI Le Copy Find - ac Replace Select- Paste B IU - abe x, x A - aly A === TE 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Format Painter Clipboard Font Paragraph Styles Editing H G = U L 2 5 the dilemma. This is known as a tripartite arrangement. The parties will then focus on their objectives respectively, inter alia, the employers will look at the maximum returns on its investments perhaps even at the cost of the quality of the product; the trade unions will focus on securing maximum financial gains perhaps even to the extent of opting for industrial action whereas the government will act as mediator in trying to appease both parties. The difference in the focus of both parties have blinded them to the common goal that is the product, the one that the employers are investing in and the one that the members of trade unions are responsible in producing. The task to mediate is not easy when the parties are focused on different goals as compared to a a == , TIER common one. Cited from Siti Zaharah Jamaluddin et. al. (2019). 'Industrial Relations in a High-Income Nation: Is Malaysia Ready?', UUM Journal of Legal Studies, 10 (1) January : 93-111. Accessed November 26, 2021. PAGE 1 OF 1 O WORDS ENGLISH (UNITED STATES) ES 196% 10:08 AM 11-Feb-22 Screen... e W BPQ32.. W GUIDE ... W Docu... ENG W] ? - Document1 - Microsoft Word REVIEW VIEW EndNote X8 FILE HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS Foxit PDF PDFIE Sign in * Cut Calibri (Body) 11 - A A * a A - ES E ALI Le Copy 1 No Spac... Heading 1 Heading 2 Find - ac Replace Select- A 1 Normal Title Subtitle Paste B I Uabe x x A - aly Format Painter Clipboard Font H SE QE Paragraph Styles Editing d) Examine FIVE (5) significant impacts of a strong industrial relations framework in building a high-income economy. [10 Marks] [CO1, PO1, C2) : e) Appraise THREE (3) viable initiatives to promote harmonious industrial relations in Malaysia. [6 Marks] [CO2, PO1, C2] PAGE 1 OF 1 O WORDS ENGLISH (UNITED STATES) 196% 10:08 AM 11-Feb-22 Screen... e W BPQ32.. W GUIDE ... W Docu... ENG