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Open-Book Management: Coming Business Revolution, The Paperback – April 12, 1996
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The principle here is very simple- instead of your company or division relying on only the handful of minds at the top of the organization to improve the company, it treats all the employees as adults with brains and encourages everyone to work for the company's benefit. This also has the effect of reducing or eliminating office politics since everyone's pulling in the same direction.
How? Fortunately the process is pretty simple, though it needs to be tailored to each business. The pieces are:
1. Giving employees all relevant financial information,
2. Giving employees training to understand the financial information,
3. Giving employees appropriate responsibility for the numbers under their control, and
4. Giving employees appropriate stakes in the outcomes (through bonuses, stock, options, etc.).
1. Give all their financial information to all employees;
2. Teach employees to understand it; and
3. Give employees a financial stake in how the company performs.
In summary, experience shows that employees at open book companies act like owners. Case shows exactly how to do it.
Give this book to your boss!