RSM100Y1 Chapter Notes - Chapter 9: Employee Stock Ownership Plan, Whole Foods Market, 24 Minutes
Document Summary
Chapter 9: top performance through empowerment, teamwork, and. Empowerment: giving employees shared authority, responsibility, and decision-making with their managers. Employees understand more about organization"s strategic thinking and how their own work fits into overall plan. These workers are better able to direct work efforts to make use of company efforts. Risks: private company informaiton may reach competitors: can also give employees broad authority to make decisions that carry out firm"s vision and competitive strategy. Purchasing supplies, making hiring decisions, scheduling production or work hours, overseeing safety program, granting pay increases. Linking rewards to company performance: ultimate step in convincing employees of their role in success of their firm is worker ownership, employee stock ownership plans (esops): benefit employees by giving them stock ownership in their companies. Employer buys shares of company stock on behalf of employee as retirement benefit. Accounts continue to grow in value tax-free. Employees cash stock shares when they leave company.
