Economics Of Participation
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Economics Of Participation
Economics of participation is an umbrella term spanning the economic analysis of worker cooperatives, labor-managed firms, profit sharing, gain sharing, employee ownership, employee stock ownership plans, works councils, codetermination, and other mechanisms which employees use to participate in their firm's decision making and financial results. A historical analysis of worker participation traces its development from informal profit sharing in U.S. factories, to flexible remuneration in the aftermath of Industrial Revolution and to staff democracy's application for earning stability in economic downturns during the 21st Century. The economic analysis of these participatory tools reveals their benefits and limitations for individuals, businesses and the wider economy. As a result of worker participation, employees gain skills, morale and motivation that improve business output, productivity and profitability. Spill-on effects into the wider economy can anchor human and financ ...
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Worker Cooperative
A worker cooperative is a cooperative owned and Workers' self-management, self-managed by its workers. This control may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner who each have one vote. History Worker cooperatives rose to prominence during the Industrial Revolution as part of the labour movement. As employment moved to industrial areas and job sectors declined, workers began organizing and controlling businesses for themselves. Worker cooperatives were originally sparked by "critical reaction to industrial capitalism and the excesses of the industrial revolution." Some worker cooperatives were designed to "cope with the evils of unbridled capitalism and the insecurities of wage labor". The philosophy that underpinned the cooperative movement stemmed from the socialism, socialist writings of thinkers including Robert Owen and Charles Fourier. Robert Owen ...
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American Revolution
The American Revolution was an ideological and political revolution that occurred in British America between 1765 and 1791. The Americans in the Thirteen Colonies formed independent states that defeated the British in the American Revolutionary War (1775–1783), gaining independence from the British Crown and establishing the United States of America as the first nation-state founded on Enlightenment principles of liberal democracy. American colonists objected to being taxed by the Parliament of Great Britain, a body in which they had no direct representation. Before the 1760s, Britain's American colonies had enjoyed a high level of autonomy in their internal affairs, which were locally governed by colonial legislatures. During the 1760s, however, the British Parliament passed a number of acts that were intended to bring the American colonies under more direct rule from the British metropole and increasingly intertwine the economies of the colonies with those of Brit ...
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BMO Harris Bank
BMO Harris Bank, N.A. is an American bank based in Chicago, Illinois. It is a member of the Federal Reserve System and operates branches in the states of Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, Wisconsin, and California. BMO Harris Bank has over 600 branches and 1,300 ATMs and employs 14,500 staff in the United States. BMO Harris Bank is one of the largest banks in the United States. The bank is an independent subsidiary of the multinational investment bank and financial services company Bank of Montreal, commonly known as "BMO" (pronounced ), which owns BMO Harris Bank through the holding company BMO Financial Corporation (formerly Bankmont Financial Corporation, then Harris Financial Corporation). Harris Bank traced its history to 1882 in Chicago, and became an acquired subsidiary of Bank of Montreal in 1984. History In 1882, Norman Wait Harris established N.W. Harris & Co., a Chicago-based municipal bond broker and the forerunner of Harris Ba ...
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Pillsbury (brand)
The Pillsbury Company is a Minneapolis, Minnesota-based company that was one of the world's largest producers of cereal, grain and other foodstuffs until it was bought by General Mills in 2001. General Mills brands consist of Annie's, Betty Crocker, Nature Valley, Yoplait, Haagen-Dazs, and Blue Buffalo. It also has ownership in various cereal products including Cheerios, Chex, Lucky Charms, Trix, and Cocoa Puffs. Antitrust law required General Mills to sell off some of the products, so the company kept the rights to refrigerated and frozen Pillsbury branded products, while dry baking products and frosting were sold to the Orrville, Ohio–based The J.M. Smucker Company, Smucker company under license. Brynwood Partners agreed to purchase Pillsbury from Smuckers for 375 million in July 2018. In September 2018, the sale was completed along with other brands including Martha White and Hungry Jack. Advertising company Leo Burnett Worldwide created Pillsbury's Pillsbury Doughboy, Dough ...
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General Foods
General Foods Corporation was a company whose direct predecessor was established in the United States by Charles William Post as the Postum Cereal Company in 1895. The company changed its name to "General Foods" in 1929, after several corporate acquisitions, by Marjorie Post after she inherited the established cereal business from her father C. W. Post. In November 1985, General Foods was acquired by Philip Morris Companies (now Altria Group, Inc.) for $5.6 billion, the largest non-oil acquisition to that time. In December 1988, Philip Morris acquired Kraft Foods Inc., and, in 1990, combined the two food companies as Kraft Foods. "General Foods" was dropped from the corporate name in 1995; a line of caffeinated hot beverage mixes continued to carry the General Foods International name until 2010. History Background General Foods background can be traced to the Post Cereal Company, founded by C. W. Post in 1895 in Battle Creek, Michigan. Post was a patient at the Battle C ...
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Louis O
Louis may refer to: * Louis (coin) * Louis (given name), origin and several individuals with this name * Louis (surname) * Louis (singer), Serbian singer * HMS ''Louis'', two ships of the Royal Navy See also Derived or associated terms * Lewis (other) * Louie (other) * Luis (other) * Louise (other) * Louisville (other) * Louis Cruise Lines * Louis dressing, for salad * Louis Quinze, design style Associated names * * Chlodwig, the origin of the name Ludwig, which is translated to English as "Louis" * Ladislav and László - names sometimes erroneously associated with "Louis" * Ludovic, Ludwig, Ludwick, Ludwik Ludwik () is a Polish given name. Notable people with the name include: * Ludwik Czyżewski, Polish WWII general * Ludwik Fleck (1896–1961), Polish medical doctor and biologist * Ludwik Gintel (1899–1973), Polish-Israeli Olympic soccer player ...
, names sometimes translated to English as "Louis" {{disambiguation ...
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Employee Stock Ownership
Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Employee Share Purchase Plans are common, wherein deductions are made from an employee's salary to purchase shares over time. In Australia it is common to have all employee plans that provide employees with $1,000 worth of shares on a tax free basis. Such plans may be selective or all-employee plans. Selective plans are typically only made available to senior executives. All-employee plans offer participation to all employees (subject to certain qualifying conditions such as a minimum length of service). Most corporations use stock ownership plans as a form of an employee benefit. Plans in public companies generally limit the total number or the percentage of the company's stock that may be acquired by employees under a plan. Compared with ...
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Stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company is divided, or these shares considered together" "When a company issues shares or stocks ''especially AmE'', it makes them available for people to buy for the first time." (Especially in American English, the word "stocks" is also used to refer to shares.) A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all senior claims such as secured and unsecured debt), or voting power, often dividing these up in proportion to the amount of money each stockholder has invested. Not all stock is necessarily equal, as certain classe ...
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Sears
Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago. In 2005, the company was bought by the management of the American big box discount chain Kmart, which upon completion of the merger, formed Sears Holdings. Through the 1980s, Sears was the largest retailer in the United States. In 2018, it was the 31st-largest. After several years of declining sales, Sears's parent company filed for Chapter 11 bankruptcy on October 15, 2018. It announced on January 16, 2019, that it had won its bankruptcy auction, and that a reduced number of 425 stores would remain open, including 223 Sears stores. Sears was based in the Sears Tower in Chicago from 1973 until 1995, and is currently headquartered in Hof ...
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Procter & Gamble
The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio, founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/consumer health, personal care and hygiene products; these products are organized into several segments including beauty; grooming; health care; fabric & home care; and baby, feminine, & family care. Before the sale of Pringles to Kellogg's, its product portfolio also included food, snacks, and beverages. P&G is incorporated in Ohio. In 2014, P&G recorded $83.1 billion in sales. On August 1, 2014, P&G announced it was streamlining the company, dropping and selling off around 100 brands from its product portfolio in order to focus on the remaining 65 brands, which produced 95% of the company's profits. A.G. Lafley, the company's chairman and CEO until October 2015, said the future P&G would be "a much simpler, much less complex company of leadi ...
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Industrialisation
Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an economy for the purpose of manufacturing. Historically industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies. The reorganization of the economy has many unintended consequences both economically and socially. As industrial workers' incomes rise, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth. Moreover, family structures tend to shift as extended families tend to no longer live ...
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Albert Gallatin
Abraham Alfonse Albert Gallatin (January 29, 1761 – August 12, 1849) was a Genevan– American politician, diplomat, ethnologist and linguist. Often described as "America's Swiss Founding Father", he was a leading figure in the early years of the United States, helping shape the new republic's financial system and foreign policy. Gallatin was a prominent member of the Democratic-Republican Party, represented Pennsylvania in both chambers of Congress, and held several influential roles across four presidencies, most notably as the longest serving U.S. Secretary of the Treasury. He is also known for his contributions to academia, namely as the founder of New York University and cofounder of the American Ethnological Society. Gallatin was born in Geneva in present-day Switzerland and spoke French as a first language. Inspired by the ideals of the American Revolution, he immigrated to the United States in the 1780s, settling in western Pennsylvania. He served as a delegate to ...
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