Industrial relations mostly cover such topics as corporate restructuring and economizing. In the mass media reporting of industrial relations, there are also topics and issues concerning changing relationships in the employment sector of both union and non-union settings. Another issue is that of work systems that are highly performing and workplace demographics. Not to be left out is impacts globalization has on national labor markets and compensation of employees at the workplace among other things. There are various journals that cover these topics besides what the media provides to the public. One such journal is A Journal of Economy and Society.
The Arab News (April 12, 2009) reports that in the new trend in industrial relations, there is a new term that has come up. This is ‘bossnapping’. Basically, this means bosses are being held against their wishes. This has been explained to entail locking up bosses in their offices and through the night and then compelling them to go back to the compromise table in a submissive mood. The result of this tactic has been observed to be concession. However, there is concern over whether this is what the future of industrial relations holds. Workers can get a better package in a better way. The experience is often horrifying for the managers though all their basic needs are taken care of. An example is the four executives in Caterpillar taken captive by workers in Grenoble (Arab News). The company is making more than 600 workers redundant and their experience one they might not forget in the near future.
On the other hand, there is the issue of an economic crisis in the Kingdom. From this, more companies, both local and international, are establishing research and development operations in the Kingdom. This is a move to create an economy that is knowledge-based that will be more fruitful. The head of Dhahran Techno-Valley (DTV) comments that there is increased interest in the venture and this implies that the future of the economy in Saudi Arabia will be more knowledge-based. Many companies from states across the globe have signed agreements with DTV for the establishment of the R and D (Avancena).
In addition, there have been reports of balancing trade between China and the Kingdom (Abdullah). There is an offer for more investment opportunities between China and the Kingdom. Being the largest partner of China in the Middle East, Saudi Arabia has offered the greatest cooperation and highest opportunities for investment. This has been reported by Sabr, the head of the Chinese delegation.
There is also reluctance by companies to predict the future of companies. It is becoming increasingly difficult to depict credit or even predict the demands customers will have. This is besides the anticipation of other issues that will affect the future of companies. Investors and economists are often looking at the possibility of a growth in the economy (Companies hesitate to forecast the future).