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Ratling [72]
3 years ago
9

1)

History
1 answer:
monitta3 years ago
6 0

This approach by Ford and other corporations are known as  <u>Welfare capitalism</u>.

<u>Explanation</u>:

Welfare capitalism is widely practiced in many companies to provide welfare benefits to their employees. Under this approach, the employees were offered with higher wage, housing facility and establishing sports club for them.

Industrialists believe that higher payment can encourage the employee in doing more work. So the workers are motivated with higher wages to work harder. Henry Ford followed this method in 1914. They increased the wages of their employees and reduced their working time too. The company followed this approach to avoid formation of the labor unions

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