PLEASE NOTE
The EBF site is dead. If you click through you will be taken to the Internet Archive site to find an archived copy.
The EBF site is dead. If you click through you will be taken to the Internet Archive site to find an archived copy.
Businesses in the Western world are still governed by antiquated corporation laws. In the past, employees were regarded as an adjunct to business; they were simply the “hands” to operate the machines. Power was concentrated at the top. The law gave priority to the shareholders, based on the assumption that the human elements were mere extensions of the capital assets.
Most of today’s corporations, however, have no or few capital assets. They are dependent on brain power; people are the critical success factor. But businesses are still ruled by 19th-century legislation. Managers are forced to optimise capital before all other concerns. Excessive power is given to shareholders and that power is being abused.
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