What will you learn from this book
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Open-Book Management: The concept of open-book management involves sharing financial and operational information with employees to help them understand how their actions impact the company's performance.
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Creating a Stake in the Outcome: By involving employees in the financial aspects of the business, they become more engaged and motivated to help the company succeed.
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Financial Literacy: Open-book management requires employees to understand financial statements and key performance indicators to make informed decisions.
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Setting Goals: Establishing clear, measurable goals is essential for aligning employees' efforts with the company's objectives.
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Building a Culture of Ownership: Open-book management encourages employees to think and act like owners, taking responsibility for their actions and the success of the company.
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Empowering Employees: Giving employees access to information and involving them in decision-making processes empowers them to contribute more effectively to the organization.
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Continuous Improvement: Open-book management promotes a culture of continuous improvement, where employees are encouraged to identify and implement ways to improve the company's performance.
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Transparency: Transparency in financial and operational matters builds trust among employees and helps create a more open and honest work environment.
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Recognition and Rewards: Acknowledging and rewarding employees for their contributions reinforces positive behavior and motivates them to continue performing at a high level.
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Sustainability: The principles of open-book management can help companies not only survive but thrive in the long term by fostering a culture of financial and operational excellence.
| Language | English |
|---|---|
| ISBN-10 | 038547525X |
| ISBN-13 | 9780385475259 |
| No of pages | 252 |
| Font Size | Medium |
| Book Publisher | Crown Business |
| Published Date | 01 Oct 1994 |
About Author
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In the early 1980s, Springfield Remanufacturing Corporation (SRC) in Springfield, Missouri, was a near bankrupt division of International Harvester. That's when a green young manager, Jack Stack, took over and turned it around. He didn't know how to "manage" a company, but he did know about the principal, of athletic competition and democracy: keeping score, having fun, playing fair, providing choice, and having a voice. With these princ
ipals he created his own style of management -- open-book management. The key is to let everyone in on financial decisions. At SRC, everyone learns how to read a P&L -- even those without a high school education know how much the toilet paper they use cuts into profits. SRC people have a piece of the action and a vote in company matters. Imagine having a vote on your bonus and on what businesses the company should be in. SRC restored the dignity of economic freedom to its people.
Stack's "open-book management" is the key -- a system which, as he describes it here, is literally a game, and one so simple anyone can use it. As part of the Currency paperback line, the book includes a "User's Guide" -- an introduction and discussion guide created for the paperback by the author -- to help readers make practical use of the book's ideas. Jack Stack is the president and CEO of the Springfield Remanufacturing Corporation, in Springfield, Missouri. The recipient of the 1993 Business Enterprise Trust Award, Jack speaks throughout the country on The Great Game Of Business and Open Book Management.