Would capitalism function or exist if corporations were required to be democracies? [closed]
Nominations to the board
Nominations would be done via multiple nominating committees that are affiliated with the nominating commission (electoral commission). The committees would be different corporate political parties. Each committee would have its own members that vote for its leadership (on committee and candidates for the board).
board of directors
The board is elected by the shareholders (one person, one vote as opposed to one share, one vote--this is actually historic). Each candidate for the board is either independent or by political party. Shareholders actually have a choice, as opposed to now (eg take it or leave it).
Outside Directors wouldn't exist just as it makes no sense for an outsider (eg Mongolian citizen) to be in the US Congress. Instead, an ethics and transparency commission or something could be set up.
Real debate could ensue, allowing better corporate governance.
Just as politicians are not considered civil servants, board members would not be considered employees.
The board could be a bit larger (20-50 members) as it would be purely legislative with no executive functions. Half the seats could be at-large while the other is by geography or function (mixed member proportional representation is preferred).
The chairperson would be the equivalent of the speaker of the house (UK). Since a "politician," an employee would assist in rules of the board and anything else needed.
executive Officers (executive board)
The President would be equivalent to the prime minister. The Vice presidents (for finance, safety, technology, etc) would be the equivalent of cabinet ministers. They would all sit together as an executive board and face questions from the regular/supervisory board.
employees & non-executive officers
Employees would all be corporate civil servants. They would all get a share in the company so as to get a vote and "citizenship" (citizenship required for civil servants in countries).
The most senior civil servant would be the Chief administration officer (CAO). Each department of the executive board would have a corresponding C-suite professional as chief civil servant for the ministry (eg Chief finance officer (CFO) for the finance department, under the political leadership of the Vice President for Finance).
Redundancy & accountability
By having professional employees run the company, with an elected board and executive that steers towards what the shareholders want, the shareholders can feel more at ease with getting rid of a president they don't agree with or feel has done a terrible job, without worrying that the company will tank. Stock prices may even stabilise knowing that there is a steady professional hand in the background, despite being more shareholder active (i.e. democratic).
Political parties are organised through their respective nominating committee and overseen by the nominating commission. Each seat may have as many candidates for that seat as there are political parties in the company. Preferably the parties would be less big tent and more issue based (eg green, pirate, libertarian, rather than conservative). Further, the parties can be corporate-oriented (eg environmentally friendly party, dividends every year party, reinvest annually party, R&D party, etc).
Shareholders chosen by lottery sit as a jury for in-house offences and review board or executive decisions for violating the charter and mission. Similar to the corporate judicial branch.