Turning workers into shareholders improves corporate performance, or so advocates of employee ownership maintain. Their logic is simple: workers with a stake in their company’s future are more likely to take a long-term view, which translates into higher productivity and other gains.
They were the currency of the American dream. Now they are worthless paper — a symbol of CEO greed. What went wrong with stock options? Where do companies go from here? Our only option: Visit one of the world’s leading authorities on employee ownership.
What is the relationship between the personal philosophy (as it relates to the management of the firm) of leaders of employee-owned companies and the structure of their employee stock ownership plans?
This conceptual paper based on a case examines some of the devastating impacts of the recent spate of corporate wrongdoing, noting the widespread interconnectivity and interrelationships these demonstrate; revisits the roots of capitalism and the underpinnings of corporate citizenship; and explores the efforts of the Carris Companies as they implemented their plan for 100% employee ownership and governance, working toward full transparency and accountability in their decision-making.
Distinguishing the Carris Companies’ transition to 100% employee ownership was its more unusual movement towards 100% employee governance. This paper examines the Carris Companies’ practice of governance and the process used to prepare stakeholder citizens for their changing roles and relationships.
Following a brief description of the methodology employed within this chapter, background information is provided on the Carris Companies. Changing stakeholder relationships highlighted in the segment on employee ownership provide a foundation for understanding the transitional process within the Carris Companies and, specifically, the practice of governance.
Evident in the case are important themes such as the transformational leadership of its senior management, the effective use of human resource strategies to control organisational growth, and the adoption of values similar to Charles Handy’s ‘Citizen Corporation’.
This case examines several strategies advocated by various actors in the Nucor Corporation, a major producer of steel.
Organizational leadership sets the standard for ethical conduct in the workplace. Christianity’s “Golden Rule” was used by William H. (Bill) Carris, owner of the Carris Financial Corporation (CFC), as the central ethical principle in his Long Term Plan (UP), describing the transition to 100% employee-ownership and governance…
In this paper, we take on a seemingly very simple set of empirical questions that we hope will shed light on whether employee ownership of firms ‘works’…
A rapidly expanding entrepreneurial company, the Carris firm is—by its owner’s design—gradually becoming an employee-owned and-directed organization…
In 1994 United Airlines became the largest employee majority-owned enterprise in the United States, with various groups of employees – most represented by unions – having purchased 55% of its stock in exchange for various concessions. The employees accepted pay cuts and made other concessions, but were also granted representation on the company’s board of directors…[newline]
This article examines the employee buyout process and industrial relations under employee ownership based on the case study of the Karabuk steel mill.
For several years, William H. (Bill) Carris (President and CEO) looked for ways to bring employees into the business. From the beginning Michael (Mike) Curran (Vice-President and COO) had been not in favor of implementing short-term incentives at that time. But having worked with Bill for 20 years, Mike knew when Bill’s mind was set on proceeding…
Many of the most important practices at this company exist in large part because Wall Street and the banks have applied so much pressure. If the financial community had gone easier on us, we might not be where we are today.
This book that has, since 1992, become the primer for open-book management, a new method based on the concept of democracy, the spirit of sports, and the reality of numbers.
This case covers the strategy and management practices of the world’s largest manufacturer of welding equipment. Discusses the compensation system and company culture, and the leadership style of management.
Mr. William Cooper Procter’s successful plan under which hundreds of employees that make less than $1500 a year in wages have acquired stock that is worth thousands of dollars.