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prime need. Mere technical efficiency, modern machinery, good plant layout and dynamic organizations etc, are not enough to make a business profitable and lead to economic growth and social improvements. It is harmonious and constructive labour-management relationship in industry, which plays almost a decisive role in this respect. Unfortunately, increasing complexity of modern industrial system has widened the gap between the employers and the employees more than ever before, the distributional disparities have worsened and discontent and frustration at the lower levels of organizations have heightened. This gap has created serious types of industrial conflicts in labour-management relations, resulting in fall of production, increase in prices and creation of adverse balance and maximization of national wealth and can easily be transcribed as threats to the welfare of the people.