Meaning of Industrial Sickness (What is Industrial Sickness?):
Industrial sickness relates to uneconomic functioning of industrial units. It suggests something seriously wrong as regards the normal working of an industrial unit. A sick unit may not work to its full capacity, may not earn reasonable profit, may not pay fair wages and dividends and may face financial, marketing and other problems in a continuous manner. Such sick units are harmful to employees, corporate sector and the entire economic system. Some business units are born sick whereas some others are made sick. As the name indicates, industrial sickness relates to industrial/manufacturing/production units and not relates to other type of business activities. Industrial sickness relates to large scale or small-scale industrial/manufacturing units.
Industrial sickness is similar- to our body sickness in many respects such as causes, symptoms, consequences and remedies.
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