Define collective bargaining in your own words. Critically evaluate the state of collective bargaining in the present day business scenario. Explain with examples your answer giving due details of the organizations and the sources you are referring to.

Collective bargaining is a process in which employers and employees, typically represented by trade unions, negotiate terms and conditions of employment. These negotiations can include wages, benefits, working hours, safety conditions, job security, and other employment-related issues. The aim of collective bargaining is to reach a mutually beneficial agreement between both parties, ensuring that employees have a voice in decisions that affect their work lives while also maintaining the business's operational and financial viability.

In the present-day business environment, the practice of collective bargaining faces various challenges and has evolved significantly. With the globalization of business, technological advancements, and changing labor market dynamics, the state of collective bargaining is not as robust as it once _______ _______ _________ __________ _______.
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