Openbook management is a management phrase coined by john case of inc. At the very least, jack stack could have easily established subsidiaries of springfield remanufacturing around the world, bringing openbook management to his own shops everywhere. A pioneer of the leadership model known as openbook management, stack is the author of two books on the subject, the great game of business and a stake in the outcome. I think its fair to say that most business owners think that open book management makes sense for their business at least at some level. The recipient of the 1993 business enterprise trust award, he speaks throughout the country on open book management and the great game of business. On the great game of business the timesheet chronicles.
Jack stack and springfield remanufacturing corporation are pioneers of open book management but they dont have exclusive rights to the. A primer on open book management home winning workplaces workplace resources ask an expert a primer on open book management q. Jack stack s style of running src holdings, an openbook management company, spurred so much interest in 1984 when inc. Why the maker of fat tire bucked the trend and became 100%. We love what can happen around the restaurant table. Open book management might sound scary customer stories. Engaging employees in open book management coop grocer. The great game of business jack stacks style of running src holdings, an openbook management company, spurred so much interest in 1984 when inc. We first began to learn about open book finance in the early 90s, when i read jack stack and bo burlinghams the great game of business which i still consider to be the single most insightful book on the subject. A primer on open book management greenleaf center for.
Instead, he has tried to maximize his influence in a specific local sphere, a place where he can still make time for his family, for bass fishing, and for casual conversations at the local bar and golf course. The core of our open book project comes from jack stack and the great game of business and our own 12 laws of business. The late jack stack became the first manager of the theater, but it was a losing venture and in may 1916 was purchased by the sullivan lumber company of this city for a storehouse. The original book, published in 1992, became the primer for open book management. Springfield remanufacturing bought the company and learned. I believe its one of the main reasons atomic has been consistently more profitable than our peers for the past 18 years. Explaining the power of openbook management the new. Jack stack shares the unexpected benefits of openbook. Learn how to use open book management to unlock profitability in your business. In 1983, he transformed a failing division of international harvester into springfield remanufacturing company srcone of the most successful and competitive companies in americawith nothing more than a few good managers, a little bit of cash, a lot of gumption and yes, open book management. Imagine having a vote on your bonus and on what businesses the company should be in. As companies all over the country are discovering, it gets everyone on the payroll focused on business success. The basis of openbook management is that the information received by employees should not only help. About openbook management the great game of business.
He also introduces the term open book management, or open book finance, which offers a framework in which to implement the practice. Which of the following is not one of the three core activities in the open book management system pioneered by jack stack. This is what makes our approach to business revolutionary. 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. About the great game of business, expanded and updated. At whole foods, the no secrets management philosophy allows employees access to most of the companys operating and financial data. Openbook management read the latest stories, news and blogs on openbook management from. American serialentrepreneur jack stack is considered the father of openbook management after being dubbed so by inc. The great game of business 20th anniversary edition. The goal was to increase profitability by engaging staff more fully in achieving economic success. Jack stack is founder and chief executive of src holdings in springfield, mo. The great game of business, expanded and updated by jack.
Jack stack is the president and ceo of the springfield remanufacturing corporation. The best book on the topic is the great game of business by jack stack and bo burlingham. Why open book management is an excellent way to run a. Unlocking the power and profitability of open book management, by jack stack and bo burlingham and information available through nceo. Jack stack business visionaries speakerspeakers bureau. Jack has been called the smartest strategist in america by inc. Openbook management is the business revolution thats the logical culmination of tqm, reengineering, teams, and most other management innovations of the past two decades. Src restored the dignity of economic freedom to its people.
A pioneer of the leadership model known as open book management, stack is the author of two books on the subject, the great game of business and a stake in the outcome. The traditional management techniques were failing them and they needed a way to motivate their employees as well as give them a stake in the outcome. Why the maker of fat tire bucked the trend and became 100% owned by its workers. Open book management is a way of running a company that helps everyone in the organization to think and act like businesspeople. Going public with open book management by jack stack. Download the great game of business summary in pdf infographic, text and audio formats. Through this book jack outlines his open book management framework which he calls the game while at src. Mapmuse helps you quickly find store locations, hours and contact information.
The great game of business started a business revolution by introducing the world to open book management, a new way of running a business that created unprecedented profit and employee engagement. In the early 1980s, springfield remanufacturing corporation src in springfield, missouri, was a near bankrupt division of international harvester. The revised and updated edition of the great game of business lays out an entirely different way of running a company. A pioneer of the leadership model known as open book management, stack is the author of two books on the subject, the great game of business and stake in the outcome. Springfield remanufacturing bought the company and learned to play the game of open. Jack and src are one of the most visible success stories for open book management obm. The open book management model obm first realized success in the manufacturing industry when jack stack created the great game of business. He pioneered in a highly transparent way of managing in his own organizations.
Jack stack and springfield remanufacturing corporation are pioneers of open book management but they dont have exclusive rights to the concept. Openbook isnt just about opening your financials to your company, its about responsibility, ownership, results and growth, all of these things can come together to drive the needle forward in your organization. Information about customer expectations and feedback is distributed monthly. And since 1998 weve been committed to empowering that experience. Provide a stake in the outcome companies need great ideas and active support from all employees to succeed, said steve baker, vice president of the great game of business division of. Magazine and one of the top 10 minds in small business by fortune magazine. The great game of business about jack stack and src. In my experience, some people never really get the power of openbook management. Executive summary the great game of busines is about the innovative open management system created in 1983 by jack stack and twelve business partners in order to save their jobs and the jobs of their employees. Jack stack covers the foundation of openbook management in his interview with jim canfield. Openbook management obm is a management phrase coined by john case of inc. In the early 1980s, when jack stack led a management buyout of his springfield, missouri, factory, he faced steep odds.
The concepts most visible success has been achieved by jack stack and his. Unlocking the power and profitability of openbook management the great game of business. Retail store locations businesses near you mapmuse. Open book management helps your bottom line and morale. Openbook management obm refers to a system in which a company fully shares its financial status with its employees, who then become active partners in a synchronized effort to optimize future financial performance.
Suffice it to say, jack stack and his src holdings, a collection of dozens of industrial midwest manufacturing companies, are successful due to his unique, simple, and potent method of management. Companies of all sizes are discovering the value of openbook management. The system of open book management states that the entire staffyes, everybody participates in planning, reporting, and managing the key performance indicators. Src holdings corporation operates 31 business units including joint ventures with john deere, case new holland and navistar, and maintains two venture capital incubator funds. Read even the first chapter of this extraordinary book and you. Read even the first chapter of this extraordinary book. From helping restaurants of all sizes thrive, to enabling diners to find and book the perfect table for every occasion, our story is one of human connectionamong diners and restaurants, and between restaurants and their communities. Openbook management at its most effective far outperforms a definition as simple as sharing financial information with employees.
Obm was pioneered by jack stack in the great game of business. But the most visible advocate for the conceptsometimes known as the godfather of openbookis a man named jack stack. His expertise in using the openbook model has helped src holdings corporation start, acquire, and own over 60 businesses and created thousands of jobs since 1983. The 20th anniversary edition of the great game of business includes a new introduction and commentary by the author and a get in the game howto guide to help readers begin implementing the ideas detailed in the book. To fight for survival, he made the unusual move of opening the company s books to his employees. The annual gathering of games, presented by the great game of business, is the only conference where the open book management community comes together from around the world to learn, share, and celebrate the principles and practices of the great game of business and open book management. This particular way of managing was later coined openbook management obm by author john case. Why open book management creates better businesses and. Then i read ricardo semlers maverick and john cases openbook management. Love your piece on jack stack and src holdings watch here and here. Its as if theyve decided to close their minds to it from the start. Unlocking the power and profitability of openbook management by jack stack. The roots of openbook management with jack stack and jim. Open book management is based on the idea of reporting important key performance indicators kpis.
Openbook management the great game of business blog. I suggest this as a first read for everyone interested in learning the basics. Put those three practices together and you have a style of management known generically as openbook management. In this blog, legendary businessman jack stack shares the some of the unexpected benefits of openbook management. His expertise in using the open book model has helped src holdings corporation start, acquire, and own over 60 small and medium size businesses and created thousands of jobs since 1983. Jack stack is president and ceo of the springfield remanufacturing corporation src, located in springfield, missouri. The tale of its great game of business open book system has been told often in the pressand in the speeches and the popular book by chief executive jack stack. Open book management gives employees the information they need in order to make the best. Mansions and old houses of the north country originally published in the watertown daily times. The concepts most visible success has been achieved by jack stack and his team at src holdings. I recently finished reading the great game of business unlocking the power and profitability of open book management by jack stack with bo burlingham. I am a relatively new owner of a small business, though the business has been around for a while. We embrace open book management as pioneered by our founder and ceo jack stack.
104 1362 1396 609 1544 139 198 1094 833 370 738 1479 1154 575 401 119 482 825 1098 170 1012 1276 180 168 1077 746 620 39 284 1483 1315 178 1363 44 475 739 1105