Collective Bargaining--Its Relationship to Stakeholders‪.‬

Introduction Collective bargaining is a means of joint regulation by employers and workers' organisations. Respect of rules depends on the manner of their formulation. Collective bargaining provides the opportunity to formulate rules by mutual consent. Some view the process of collective bargaining as one of unions sharing governance with management. This influences regulation or rule making and results in contract. Several analysts have focused on the economic and political functions of collective bargaining. Some emphasise the eco-nomic functions others highlight the political role of trade unions in collective bargaining. In most cases, the dynamics of economic and political factors and forces together determine the outcomes of collective bargaining. According to ILO, freedom of association and collect-ive bargaining are fundamental rights. Both freedom of association and the right to collective bargaining form an integral part of the ILO Declaration on Funda-mental Principles and Rights at Work.