Corporations are crucial to society's well-being. Yet, not many
have chosen to adapt themselves to the expectations of employees
and the society at large. Prof. Ram Mohan identifies the three main
problems that ail companies and illustrates the ways in which these
can be combated. Most companies are still run from the top and make
very little attempt to involve employees at the lower levels in
decision-making. Executive compensation has spiralled steeply in
recent years because the process of determining it is seriously
flawed. Boards of directors are ineffective and have abetted the
cult of the charismatic CEO who is expected to work wonders.
Rethinc contends that the solution lies in the near-total
dismantling of hierarchy, or the creation of a 'bossless'
organization. In such an organization, the structure is flat,
employees operate through self-driven teams, there is peer review,
power rests on one's contribution and not one's title, and the
organizational purpose goes beyond the making of profit and several
other features. Once all this is done, we will have an achieving
organization that is also a humane one, in which the employees are
raring to get to work every day.
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