Under the new deregulated and globalized business environment, management, more than labor or government, is in a greater position to lead a positive transformation process - in productivity, industrial relations and human resource management reforms that will contribute to the overall competitiveness of a business. However, labor should also have an increased appreciation of, and participation in this transformation process, while government should provide the necessary policy environment and supportive institutions, such as an efficient dispute settlement machinery and an educational system that works.
