There are Free Lunches Statement of Intentions
There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.
Wednesday, 23 November 2011
Equity and Social Capital can Overcome Everything..Even a Fire
Today I would like to share with my readers the story of a company from my country, Portugal, and how equity and social capital allowed the company to surpass a very difficult obstacle: a fire that destroyed the entire production zone, corresponding to 20% of the total area.
The story is simple, but the outcome is not. Sicasal is a company from the processing of meat industry and after a fire which destroyed a significant part of the factory, and in times of economic crisis, everyone was expecting a massive lay-off. Surprisingly, the management and the employees of the company showed us that “when ties are strong, the boat goes the boat beyond the vague”. Not only the administration announce since the beginning that there would not be lay-off, but also the employees engaged themselves personally in reconstructing the factory that was destroyed by the fire.
What was the result? After one week, the factory was working at 80% of his full capacity, and this was achieved with almost no help from outside resources. The employees themselves, almost alone, rebuilt the factory that was destroyed by the fire.
Also, the country was impressed by the emotional way employees talked about their factory and its leaders.
If you understand Portuguese, you can check a small piece from Portuguese television here: