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The goal of social ownership is to eliminate the distinction between the class of private owners who are the recipients of passive property income and workers who are the recipients of labor income (wages, salaries and commissions), so that the surplus product (or economic profits in the case of market socialism) belong either to society as a ...
[39] [40] This means that the owner can decide what to do with the asset in every contingency not covered by a contract. In particular, an owner has stronger incentives to make relationship-specific investments than a non-owner, so ownership can ameliorate the hold-up problem. As a result, ownership is a scarce resource (i.e. there are limits ...
Since psychological ownership has been studied by multiple disciplines such as organizational behavior and consumer behavior, there are multiple scales in which the target of ownership is different (e.g., company, product). [4] [14] In organizational behavior, the following scale is used to measure psychological ownership: [4] This is MY ...
It combines perspectives from anthropology, economic sociology, science and technology studies, and cultural studies to study consumption. Work in the area emphasizes the social and cultural dimensions of marketing practices but focuses also on technical and historical issues that have shaped contemporary consumer markets.
Illustration of Industry 4.0, showing the four "industrial revolutions" with a brief English description. Industrial sociology, until recently a crucial research area within the field of sociology of work, examines "the direction and implications of trends in technological change, globalization, labour markets, work organization, managerial practices and employment relations" to "the extent to ...
Collective ownership is the ownership of private property by all members of a group. [1] [2] [nb 1] The breadth or narrowness of the group can range from a whole society to a set of coworkers in a particular enterprise (such as one collective farm).
The Hawthorne study suggested that employees have social and psychological needs along with economic needs in order to be motivated to complete their assigned tasks. This theory of management was a product of the strong opposition against "the Scientific and universal management process theory of Taylor and Fayol."
Self-management of an organization may coincide with employee ownership of that organization, but self-management can also exist in the context of organizations under public ownership and to a limited extent within private companies in the form of co-determination and worker representation on the board of directors.