This document discusses key concepts in industrial relations. It begins by defining industrial relations and noting that there is no single agreed upon definition. It discusses the main parties involved - management, workers, unions, and the state. The objectives of industrial relations are outlined as bringing about sound relations between employers and employees, facilitating production, safeguarding rights, achieving harmonious relations, and avoiding work stoppages. Discipline, grievance handling, and collective bargaining are examined as important functions in industrial relations.