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Financial Participation in a European Perspective

Financial Participation in a European Perspective. Kees Vos President EFES. Six Statements. Social innovation is the key to a successful knowledge economy Social innovation requires new management ESO can be an ultimate form of social innovation ESO is not yet sufficiently practiced

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Financial Participation in a European Perspective

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  1. Financial Participation in a European Perspective Kees Vos President EFES

  2. Six Statements • Social innovation is the key to a successful knowledge economy • Social innovation requires new management • ESO can be an ultimate form of social innovation • ESO is not yet sufficiently practiced • The knowledge economy is challenged • It is time for action!

  3. Social innovation and the knowledge economy • employment in knowledge based industries (EU 15): 40% • Employees = main asset • The battle for brain power • 75% of company success by social innovation

  4. Social innovation and management • Liberal market economy: high management ratio • Coordinated market economy: low management ratio • Coordinated market economy: more commitment and motivation • More commitment and motivation: higher productivity growth and faster technological progress

  5. Employee share ownership • New forms of management: policies of accommodation • Basics of ownership unchanged: employment contract = hierarchical relation • But: 40% knowledge workers • Co-ownership/employee share ownership as the ultimate form of social innovation

  6. ESO not sufficiently practiced (yet?) • Low incidence of FP, especially ESO • More in larger companies • Multinationals: more barriers, more resources • Contradictory data • Much ado about nothing or: growing interest?

  7. Incidence of ESO: contradictory data

  8. EU economy successful, but….. • GDP per capita • Economic growth: 1 – 2% per year • Unemployment decreasing (7%)

  9. …..but challenged! • World economy growth 4- 5% per year • Off shoring: 25% of EU companies • Mergers and take overs • Private equity and hedge funds: pay off within 5 years • OECD: workers in the global economy increasingly vulnerable

  10. It is time for action! • EU and national level • Support social innovation by ESO • Special attention to SME’s • To be competitive and to stay competitive • Let’s blow the whistle not burst the bubble!

  11. Don’t give up! It’s a long way to success!

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