A couple of years back I had read an article on the inevitibilty of democracy in organizational culture. The article traced the evolution of business in European and American markets and especially focussed on the transformation from single-owner businesses to professionaly managed companies. The writers were of the opinion that democracy is inevitable - any other state or type of business would eventually converge to a democratic state in the same way as any physical phenomenon always converge towards equilibrium.
I was very excited with what I read - it was exactly what I felt a business should be like. Democracy would drive away the gross ineficincies that we normally see in any business and at the same time cater to the needs of all parties in an equitable fashion. Gradually we would move to an era of supreme eficiency governed by democratic laws.
It indirectly echoed the following verse from the Rig Veda : deva devanum-anu hi vrata guh - The Gods move according to the law of the working of Gods.
However inefficiecies still persist and we are a long way from business democracy at least in India where accountability is non-existent. Where you have no accountability you do not have democracy. Even the Supreme court judges have given up ".. God cannot save the country".
"Business Democracy", however, still remains a fascinating concept.