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  • Writer's pictureAmi Kassar

AmiSight 1/11: Let’s Learn About Open Book Management Today

Today on AmiSights the Podcast, I sit down with Rich Armstrong. Rich has thirty years of

experience in improving business performance and employee engagement through open-book management and employee ownership, with service as a business coach and as a current executive at SRC Holdings Corporation, a thirty-seven-year-old employee-owned company and one of the United States' top one hundred largest majority employee-owned companies. Rich has been instrumental in developing SRC Holdings' open-book management and employee-ownership practices through practical, "firsthand" experience leading several of SRC's business units. This experience has enabled him to successfully apply these practices in both small- and large-scale company implementations worldwide. He coauthored Get in the Game and the update of the number one bestseller, The Great Game of Business—20th Anniversary Edition.

For those of you who don’t know, open-book management means that companies are sharing their financials with their employees and educating them on how they impact the business. The idea is that you are educating your employees to think more like owners and engaging them by providing them a stake in the outcome of their actions. This methodology attracts a new generation of workers who are looking to do things differently and can be a good differentiator in attracting good talent. How is their operating system different from others out there? Rich says, “While other programs/operating systems may focus on the leadership team, we focus on everyone in the organization. We are also specific to financials and people.”

Find out more about ESOPs, Open-Book Management, and Rich's three things you need to be successful:

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Definitely need to check this episode out. We added GGOB concepts to the business a couple years ago. Profits are up, the team is more involved, and their bonuses are well understood now. Looking forward to continuing our maturity in this area. I love our Tuesday team 'forecast' meetings: knowing what your end of month is going to look like in the first week with the full team working on line items in the P&L really takes some stress off the business owner.


Love the feedback, thanks for sharing Mark!

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