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Financial
Cost Efficiency
One of the significant expenses of current transportation systems is the wages paid to operating staff. The Austrans system eliminates this cost by running its vehicles under automatic control from a central computer. As a result, the only wages and salaries required are for cleaning and maintenance staff and the office personnel monitoring the system.
Implementing Proven Strategies for Success
Management Philosophy
The management team of the Austrans system will operate following the principles outlined by Jack Stack in his book, “The Great Game of Business,” co-authored with Bo Burlingham. The first edition was published in 1993, and the second edition came out in 2013. This book emphasizes worker ownership of businesses.
Jack Stack highlights the success of SRC Holdings Corporation, where employee ownership has led to significant growth and profitability. SRC’s revenues have grown to over $450 million, and the company has created thousands of jobs while building more than sixty diversified businesses over the past thirty years. The share price of SRC’s stock has increased from $10 in 1983 to $348 today, illustrating the substantial benefits of employee ownership.
Powering Growth and Productivity
Employee Ownership Benefits
David Erdal, in his TEDx Glasgow talk, emphasized the advantages of employee ownership, stating that it never makes a company worse and often leads to numerous positive outcomes. For instance, the Guggenheim Museum in Bilbao was built by an employee-owned company, part of the Mondragon Group, which employs 100,000 people. This group is a major player in various industries, including automotive supply and luxury coach manufacturing.
Studies in the USA have shown that employee-owned companies are more productive, grow faster, create more jobs, and have higher employee retention rates. These companies also tend to last longer, further highlighting the benefits of employee ownership.
Commitment to Integrity
Another essential resource for the Austrans management team is the book “Absolute Honesty” by Larry Johnson and Bob Phillips. This book focuses on building a corporate culture that values straight talk and rewards integrity, ensuring a transparent and ethical work environment.
References
- Jack Stack with Bo Burlingham, “The Great Game of Business,” Crown Business, New York, 2013. ISBN 978-0-385-34833-1.
- David Erdal, “Employee-owners do it better,” TEDx Glasgow.
- Larry Johnson and Bob Phillips, “Absolute Honesty: Building a Corporate Culture That Values Straight Talk and Rewards Integrity,” Paperback – Illustrated, June 20, 2003. ISBN-10: 0814434800.
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Friends of Austrans seeks to preserve and promote the legacy of the Austrans PRT system and the groundbreaking work of Arthur Ernest Bishop. Join us in our mission to advocate for sustainable, efficient, and innovative urban transportation solutions.
Email: gefordy@hotmail.com
Call Anytime: +61 7 3142 0315