What is Open-Book Management?
In its simplest form, Open-Book Management is a way of running a company that gets everyone focused on building a better business - helping the business be more successful. It teaches all employees the goals of the company and how they can make a difference - both individually and as part of a team. Open-Book Management works because employees get a chance to act - to take responsibility rather that just 'doing their job'. Each employee knows enough about the company to understand how their actions will affect their stake in the outcome.
There are many misconceptions of what Open-Book Management is and what it means to practice Open-Book Management. Many believe it's about simply sharing financial information with employees and maybe teaching what that information means. However, companies that experience the real power behind Open-Book Management go far beyond simply 'opening the books', by building a business of business people.
Open-Book Management from an owner's perspective.