BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Answer 1 : Industrial Dispute means any dispute or differences between employers and employers or between employers and workmen or between workmen and workmen which is connected with the employment or non-employment or the terms of employment or with the conditions of labour of any person.

Detailed explanation-2: -The act was drafted to make provision for the investigation and settlement of industrial disputes and to secure industrial peace and harmony by providing mechanism and procedure for the investigation and settlement of industrial disputes by conciliation, arbitration and adjudication which is provided under the statute.

Detailed explanation-3: -Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

Detailed explanation-4: -industrial court, also called labour court, any of a variety of tribunals established to settle disputes between management and labour, most frequently disputes between employers and organized labour.