The Great Game of Business
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...
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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 principals 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. Library Journal Stack and Burlingame offer an exploration of one of today's hottest management strategies: The Game. Making business into a game with goals, scoring, and chances to win greatly improved Stack's company, Springfield Manufacturing Corporation (SMC). Additionally, SMC adopted an open-book management policy, wherein employees were told exactly how the company was performing financially, while SMC managers added employee bonuses when targets were achieved. The authors demonstrate how involving employees in business planning and giving them a financial stake in the outcome of their work can reap amazing benefits. Some costs are undoubtedly associated with this strategy and there may be other problems related to "laying out the books" for all to see. Yet Stack, who also serves as reader, offers many useful ideas that can benefit people in management. Recommended for business collections.-Mark Guyer, Stark Cty. Dist. Lib., Canton, Ohio
