Imagine voting for the CEO. Imagine voting to allocate budgets. Yes there will be a lot of pork barrel- but it might just work.
I mean the idea that companies are like single cells / autonoma so they don't have to be democratic leads us to silly ideas like trying to put in place rules for not abusing the electorate.
I mean if a boss is sexually harassing all the female staff and then asks for their vote at the next manager election, you won't need HR intervention to get rid of him.
I have no idea truly how this might work, but I do think that if the employees of a company voted how to run it you might find some unusual outcomes.