19. What is participative management? What are the processes that are necessary to influence participation? Comment on the benefits of Participative management?

1.       Respecting labor and employees, as co-participants in the achievements of an organisation is a form of management which is truly the ideal and optimal way to function, the entrepreneur, leader along with other functional leaders of the organisation gets true share of the wealth/ profits generated. It also implicates that labor/ employees have a stake in the management processes of the organisation because there is recognition of merit and competency, discussion, along with implementations and feedback. The processes that predispose ‘participative- management’ are important concepts like ‘free expression’, ‘sharing of information and wealth’, ‘idea generation’, ‘group participation’ etc.