Humanism in Economic Principles
“Humanism is creating a potent human value in a venture and defining money value as a subservient tool to the venture.” The Buffer method of evaluating salary is transparent and individualistic it yet lacks the ability to equate share in the derivations of the firm's profit. It also keeps the hierarchical structure of the firm in terms of positions. Humanism Principles are based on the fact that the only true and valuable input to a firm comes from the human content of a project. Each participant delivers a true value based on his skills and is a vital component. As per Pareto's law it required only 20% of his time to achieve it. It is a valuable measuring tool to analyze a participant's true skill and then evaluate the other abilities which could be used by other over the 80% of the time available. Thus a project consists of participants who possess the skills that are required for the project. The remaining available time of the participants will be used to complete tasks that are not the primary requirement of the firm, nevertheless. Examp. A technician with computer knowledge can use his time to feed accounting details into a database which can be accessed by an outsourced agency/auditor to maintain and monitor company accounts. Similarly a housekeeping participant can be used to carry and transport materials, packaging etc. Under Humanism principles the minimum requirement of money to live a basic standard life should be the minimum wages for all Participants
Year of publication: |
2018
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Authors: | Martyn, Samuel |
Other Persons: | Deivasigamani, Suganya (contributor) |
Publisher: |
[2018]: [S.l.] : SSRN |
Subject: | Wirtschaftstheorie | Economic theory |
Saved in:
freely available
Extent: | 1 Online-Ressource (33 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 12, 2016 erstellt |
Other identifiers: | 10.2139/ssrn.2808475 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012935885
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