Encyclopaedia Of Economics, Commerce And Management-Industrial Sociology And Labour Welfare (Vol. 6)

The interaction of modern management with personnel and the working force at large, within the framework of industrial development and related policies, are motivated in the ultimate analysis by the well-being of the work-force in terms of satisfactory availability of opportunities for growth and advancement, material conforts, adequate and proper shelter, and appropriate care in terms of health, education, nutrition and family recreational facilities. The successful corporate entity is marked by management which understands, appreciates and promotes labour welfare: the overriding principle is the commitment of the corporate entity not only to its successful operations but also equally to the health and happiness of its work force.