ICVC Part 3
We’ve already written about our internal Fund. Focusing mostly on mechanisms the Fund is operating on, we haven’t yet touched upon the topic of a more existential character, the meaning and the mission behind this Fund. Now let’s try to fill this gap. Any entrepreneur, especially in the rapidly-developing industries may confirm there’s a growing problem of attrition and turnover of staff. Less and less employees could be retained by corporate social programs, corporate culture etc. Professionals nowadays are no longer looking for stability, but rather get inspired by variety of tasks to perform, the more complex and interesting they are — the better Futurologists envision project-based design of labor relationships when discussing the future of corporations. Reflecting on the trends, we view the future of corporations being influenced by our “turquoise” approach to company management. We believe that an employee has to have an opportunity to accept as much responsibility and complexity of tasks at work as he is willing to accept, in such conditions employee would have low impetus to change the job or company.
We see the company as constantly evolving live organism, agile in corporate structure. We are guided not so much by the purpose formulated in our corporate strategy and we are not trying to shape everything we do by this purpose; we are guided by our common mission, and the interest of the team and of each employee in particular. What does it mean in real life? It means that each employees can lead the company in the direction he/she would like it to develop to, provided that associates for these tasks could be found within the company. Today the company is engaged in developing rating solutions, tomorrow we find ourselves experimenting with psycholinguistic researches. And here are our real case-studies to illustrate what we mean.
The second aspect of our vision is in overcoming alienation, exactly the problem with which communism as political and economic construct began. Half measures as team building or the development of corporate culture may be sufficient for that purpose, however, ownership is the the most effective way to overcome alienation. The owner does not and cannot feel alienation from the work process and its mission as he/she is the beneficiary of this process.
If so, we as the company have to create and introduce tools and infrastructure for realization of this concept of ownership. Our internal corporate venture fund serves this purpose.
- There are always resources in the company for realization of business ideas initiated by company employees, but not by the company management.
- Every employee owns a part of this fund.
We’ve already described earlier the sources for the fund and mechanism of financing. It is easy to notice that much is tied to the number of hours worked, and adjusted by certain coefficients reflecting the quality and efficiency of the spent working hours. This is how a famous thesis “from each according to abilities, to each according to his needs” is represented in math formula.
Share of the fund belonging to the employee is defined by the above math formula, in other words — by the extent to which this particular employee filled the fund by the work done. What is more important, we are guided by similar principles of justice and proportionality when using the fund to invest into corporate projects. In practice it means that share of each of our employee in the financed project equals the share of this employee in the fund.
We are sure that our team is capable to generate ideas which can further be developed into successful businesses. So our mission as leaders of this company is to create infrastructure and accumulate resources necessary for rapid development of business ideas into business processes. This is exactly what we are fully engaged into.
New form of creation and distribution of share capital
Part 1. One of the most complex and somewhat unsolvable issues that any management or comp...
New form of creation and distribution of share capital. Part 2
As we have already written, we have to solve two issues to implement our ph...