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Corporations are crucial to society’s well-being. Yet, not many have chosen to adapt themselves to the expectations of employees and society at large in the times we live. In Rethinc, Ram Mohan identifies the three main problems that ail companies, and proposes ways in which these can be combated. Most companies are still run from the top and make next to no attempts 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, freedom to express oneself, power rests on one’s contribution and not one’s title, and the organizational purpose goes beyond the making of profit. There are limits on variable pay linked to performance and pay is more egalitarian. Board effectiveness is ensured through a very different process of selection of independent directors. The office of the CEO is demystfied, and it is the system that is the star, not the individual. Once all this is done, we will have an successful organization that is also a humane organization-an organization in which the employees are raring to get to work every day.
Imprint: Random Business
Published: May/2015
ISBN: 9788184007930
Length : 320 Pages
MRP : ₹499.00
Imprint: Penguin Audio
Published:
ISBN:
Imprint: Random Business
Published: May/2015
ISBN: 9788184006988
Length : 320 Pages
MRP : ₹499.00
Corporations are crucial to society’s well-being. Yet, not many have chosen to adapt themselves to the expectations of employees and society at large in the times we live. In Rethinc, Ram Mohan identifies the three main problems that ail companies, and proposes ways in which these can be combated. Most companies are still run from the top and make next to no attempts 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, freedom to express oneself, power rests on one’s contribution and not one’s title, and the organizational purpose goes beyond the making of profit. There are limits on variable pay linked to performance and pay is more egalitarian. Board effectiveness is ensured through a very different process of selection of independent directors. The office of the CEO is demystfied, and it is the system that is the star, not the individual. Once all this is done, we will have an successful organization that is also a humane organization-an organization in which the employees are raring to get to work every day.
T.T. Ram Mohan, professor of finance and economics at IIM Ahmedabad, graduated from IIT Bombay and IIM
Calcutta and obtained his doctorate from Stern School of Business, New York University. In the course of a varied career, he has donned several hats: management consultant, financial journalist, banker, investment banker, academic and independent director on the boards of companies. And so he has had the opportunity to closely study the working of a variety of firms.
Ram Mohan has served on committees of the Reserve Bank of India and the Securities and Exchange Board of India. In 2001, he was visiting faculty at Stern School of Business. For over fifteen years, he wrote a widely read fortnightly column for the Economic Times. He has contributed to several other leading publications including The Hindu, Asian Wall Street Journal and Economic and Political Weekly as well as authored six books.