Equity: Why Employee Ownership Is Good for Business.Equity: Why Employee Ownership Is Good for Business. By Corey Rosen, John Case and Martin Staubus. Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. Press, 214 pages. $27.50. [ILLUSTRATION OMITTED] The Internet companies that rocketed up and then imploded im·plode v. im·plod·ed, im·plod·ing, im·plodes v.intr. To collapse inward violently. v.tr. 1. To cause to collapse inward violently. 2. in the late 1990s and into 2000 may have had failed business models, but they had latched latch n. 1. A fastening, as for a door or gate, typically consisting of a bar that fits into a notch or slot and is lifted from either side by a lever or string. 2. on to something important: it can be tremendously attractive to make employees owners and/or partners in the enterprise. That idea is at the heart of Equity, which is written by an unusual troika: an executive at a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. dedicated to employee ownership (Rosen), a business journalist and author (Case) and an academic heading an institute dedicated to employee ownership (Staubus). They argue that when correctly established, the concept can serve as the cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to of a powerful, effective model of management. As they point out, 80 percent of the companies on Fortune's list of the "100 Best Companies to Work For" have some form of broad employee ownership plan. That can be in the form of stock options, employee stock ownership plans (ESOPs), employee stock purchase plans (ESPPs) or similar arrangements. Taking employee ownership seriously, they argue, "drastically changes the basis for collaboration between employees and managers and gets people committed to a whole new level of success for the business." Using historical analysis, original research and examples from a slew of public and private companies, Equity effectively makes its case that giving employees a vital stake is good for all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. in the long run. |
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