to these public enterprises to comply the governance code by ensuring that these enterprises are directed and managed at board and management level in a fair and transparent manner. The Corporate Governance Code encourages these enterprises to create value through innovation and development, implement effective control systems and increase accountability and transparency.
The general public has a very high expectation for the services rendered by these enterprises. Therefore, these enterprises should give special emphasis on maintaining quality in their services and delivering the services on timely basis. Failure to provide the services up to the expectations of the public would hinder their trust and confidence on these enterprises.
For the Maldives public enterprises to survive and to sustain in this turbulent and bombarded economic and business environment, collective and joint efforts of management and employees are vitally important. The participation of employees in organizational decision making in these enterprises and the incorporation of employees opinions and suggestions in formulating company policies and strategies are paramount important to achieve the competitive advantage over the competitors.
Participative decision making in these enterprises would enhance job satisfaction thereby ultimately achieving higher organizational performance. When employees are given some degree of autonomy in their work, they will design their work such in a way that it will produce the best result, mutually benefitting the enterprises and the employees. Enterprises are benefitted by achieving higher productivity in employees’ work while employees are benefitted by achieving job satisfaction. Further, employees’ will feel that they are part of the enterprises and will have a sense of belongingness to the enterprises. This will result the retaining of skilled employees due to the employees job satisfaction and establishment of quality work life in these ...
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