Tragedy of the Commons - Michael just published one of my latest articles. It begins:

The tragedy of the commons is an economic theory which outlines the problems with people sharing communal property versus private ownership. An example of communal property is when employees don’t feel any ownership in the furniture, fixtures or building grounds, so they don’t report problems when they occur. Whereas, in private ownership, any asset is checked and taken care of to avoid expensive repairs.

The tragedy of the commons is a principle that can devastate your business if you’re not careful…

Read more:
“4 Ways Your Business Can Prevent the ‘Tragedy of the Commons'”