and on encouraging
greater flexibility and technical innovation within the organisation. Implicit in these
claims was the acceptance that a considerable degree of restructuring would need to
occur within each privatised company and that this was likely to act as an incentive tothe workforce to improve its performance. Additional encouragement was also expected
to derive from the use of employee share-ownership schemes, under which current
employees within a newly privatised company were offered a proportion of the equity,
thus giving them a vested interest in the organisation’s fortunes.