A NEW word is being thrown at management from every direction. It is Participation. Just what does it mean, what does it entail? To many board members it means little but a confounded nuisance. Not only in private or public companies; also some of the nationalised industries To workers it can mean many different things: the realisation of a dream; or a nightmare. For the fact must be faced: participation in management and direction must entail participation in responsibility. So it is sharing blame as well as grabbing credit. Unfortunately even apportioning blame doesn't keep a sinking company afloat; and the end result is the same whether the inexpert direction came from one end of the industry or the other. Inefficiency has to be paid for by bitter experience.
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