PARTICIPATORY MANAGEMENT IN THE CONTEXT OF SOCIO-ECONOMIC POLICY OF DOMESTIC ORGANIZATIONS

Abstract

The article discusses participatory governance as an effective tool for the development of socio-economic policy of Ukrainian organizations in the current environment. In the context of global economic changes, political instability, as well as social and geopolitical challenges, Ukrainian enterprises are forced to improve their management approaches in order to adapt to the changing environment. One of these approaches is to involve all levels of staff in the management decision-making process, which not only increases the efficiency of organizations but also strengthens corporate culture. The active participation of employees in the development and implementation of the strategy allows for the formation of more cohesive teams, increased motivation and loyalty of employees, and a reduction in internal conflicts. Participative management allows organizations to be more adaptive to a rapidly changing market, increasing their competitiveness, and creates a positive social atmosphere in the team. This approach helps to improve interaction between different levels of management and stimulates the organization's innovation potential. An important aspect is also the improvement of cooperation between organizations and the state, since in the context of participatory management, organizations become more open to cooperation and take into account the interests of all stakeholders. The article explores the theoretical foundations of participatory management, focusing on its positive impact on socio-economic policy, as well as on practical examples of the implementation of participatory approaches at Ukrainian enterprises. The article provides data confirming the effectiveness of this tool in the modern economy. In addition, the author identifies the main difficulties and challenges that arise during the implementation of participatory management in Ukraine, in particular in the context of cultural and economic peculiarities. In this regard, the author provides recommendations on how to adapt participatory management to the specific conditions of the Ukrainian labor market and the economy as a whole, which will increase its effectiveness in practice.