Beyond share empowerment schemes.
Lessons from the failed SASOL Inzalo share empowerment scheme. In their heyday, employee share option schemes, or ESOPS, were nothing more than an extension of the agency system: that much vaunted snake oil of the 80’s which enticed executives to “think like shareholders” and pursue the narrow dictates of shareholder value growth. “The world’s dumbest idea”, declared American Industrialist, Jack Welch back in 2009. Adam Smith, if he were alive today, would no doubt concur. Pe