SOSC 1510 Study Guide - Final Guide: W. M. Keck Observatory, Worker Cooperative, Work Council
3 Feb 2017
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Industrial democracy: industrial democracy is an arrangement which involves workers making decisions, sharing responsibility and authority in the workplace. While in participative management organizational designs workers are listened to and take part in the decision-making process, in organizations employing industrial democracy they also have the final decisive power (they decide about organizational design and hierarchy as well). In company law, the term generally used is co-determination. Representative industrial democracy includes decision-making structures such as the formation of committees and consultative bodies to facilitate communication between management, unions, and staff. Employee share ownership plan: an employee stock ownership plan (esop) is an employee-owner program that provides a company"s workforce with an ownership interest in the company. In an esop, companies provide their employees with stock ownership, often at no upfront cost to the employees. Esop shares, however, are part of employees" remuneration for work performed.
