PARTICIPATORY MANAGEMENT THEORY AND FINANCIAL DECISION‐MAKING

The participatory management model, or at least techniques for systematically sharing authority, has been with us for decades. In broad terms, the model concerns the delegation of decision‐making authority to employees or representative groups of employees. It entails much more than the recognition that employees ought to be able to recommend changes or courses of action. In its purest form, which is the form to be addressed in this article, the participatory management model is premised upon the belief that actual authority should be transferred to and shared with employees.