Explanation:

- Pluralist Approach

- This view sees industrial relations as inherently conflictual but managed through negotiations.

- Power is shared among various parties—management, workers, and unions.

- This balance of power maintains stability.

- Correct Answer

- System Approach

- Emphasizes interactions and interconnectedness of industrial relations components.

- Considers how environmental factors influence these relations.

- Unitary Approach

- Views the organization as a cohesive team aimed at common goals.

- Assumes fundamental harmony of interests between employers and employees.

- Social Action Approach

- Focuses on individual and group actions within an organization.

- Highlights the role of human agency and subjective perceptions in workplace dynamics.