49-71

• Πέκκα - Οικονόμου, Βικτωρία
• Lykogianni, V.

Modern business environments and new changing markets are characterized by globalization and increased competitiveness. Firms and organizations are facing an intense pressure to survive, searching for sustainable competitive advantages beyond traditional approaches that focus only on the physical and financial assets of an organization. The recognition of the shift of competitive advantage has completely altered the traditional management and strategy frameworks, which are based on product and process technology, financial assets and resources and economies of scale. Most successful firms do not depend neither on technology, nor on marketing strategies; on the contrary, their most valuablestrategic advantage is based on their human resource practices and policies. Firms in quest of human talent are actually seeking long-term competitive advantage. In this article, the emphasis is given to the parameter of employee participation and its aspects, depending on the degree and form of involvement in decision-making processes. In addition, a case study is included, focused on the co-determination right of work councils, a prominent case of distant participation. Finally, the advantages of employee participation are analyzed, serving as a link with organizational effectiveness.

• Economics and Business

• Economics

Participation, competitive, advantage, globalization, codetermination, organizational effectiveness

JEL classification: J24, J53, M12, M54