BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Explanation: If industrial disputes are not settled, they may cause dislocation and collapse of industrial establishments and undermine the industrial peace which are essential to the life of community and society. The Act aims to secure industrial peace through voluntary negotiation or compulsory adjudication.

Detailed explanation-2: -Answer: Negotiation and Adjudication. Explanation: Industrial peace is secured through voluntary Negotiation and compulsory Adjudication.

Detailed explanation-3: -Adjudication of Industrial Disputes it means a legal authority appointed by government who intervenes in order to make a settlement which is binding on both the parties. In other words, a settlement of an Industrial dispute by a labour court or a tribunal is mandatory.

Detailed explanation-4: -Arbitration is voluntary if the parties to the dispute have failed to settle their differences by negotiation and conciliation, agree to submit them to arbitration as prescribed under Section lOA of the Industrial Disputes Act, 1947.

Detailed explanation-5: -The ultimate remedy for resolving an industrial dispute is by adjudication. Adjudication can also be termed as the compulsory settlement of the industrial dispute in concern by labour courts, industrial tribunals, and national tribunal as provided by the Industrial Dispute Act, 1947.