Methods of workers participation in management, Financial Management

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Methods of workers participation in management: the various methods of workers participation in management are as follows:

1. Informative participation: it refers to sharing of information with workers regarding economic position of the firm's state of the market production and sales programme work methods balance sheet expansion plans etc. here the workers have no right to scrutinize the information provided by management.

2. Consultative participation: this involves a higher degree of sharing of views of the workers and giving them a chance to express their views on various issues concerning work place working conditions market standing financial status etc. here the joint council of workers and management works as an advisory body only. Management may or may not accept the suggestions.

3. Associative participation: here the council is not purely advisory the management is under a moral obligation to accept and implement the unanimous decisions of the council.

4. Administrative participation: here they are a greater degree of sharing authority and responsibility of managerial work and allow workers a little more autonomy in exercising administrative and supervisory powers in respect of welfare safety benefit rewards.

5. Decisive participation: this is the highest form of participation where decisions are taken jointly on matters relating to production safety welfare etc.


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