Industrial relations involve the complex relationships between managers, workers, and government agencies according to J.T. Dunlop's definition. Key features include employment relationships between employers and employees governed by rules and regulations shaped by government intervention. The main parties in industrial relations are employers, employees and their respective unions, and the government, who interact within the social and economic environment. Important objectives of industrial relations are to maintain industrial peace and democracy, improve productivity, and avoid conflicts through better standards of living and working conditions. Benefits include uninterrupted production, reduced disputes, and higher employee morale and reduced wastage.