Some people say it's lonely at the top. Well it doesn't have to be!
In today's post I'll introduce you to a powerful way of getting your employees involved in the business.
It's called Open-Book Management and it has two critical elements:
- sharing business information (open-book)
- developing a process that enables everyone to use that information to improve the company (management).
But you can't just open up the books and expect more engagement and improved results - you have to actively and persistently manage the process.
That's where The Great Game of Business by Jack Stack comes in.
It's about running your business in a strategic, forward thinking fashion.
Employees are taught the rules of business, enabled and expected to improve performance based on that knowledge, and given a Stake in the Outcome - good or bad.
They aren't looking to historical financial information for answers, they are forecasting the future of the business and making it happen.
Business is a game, after all.
It's a competitive undertaking with rules, ways of keeping score, elements of luck and talent, winners and losers.
It can be as exciting, as challenging, as interesting and as fun as any game - provided, that is, you understand the rules and are given a chance to play. The difference is that in business, the stakes are higher, much higher.'
How do you teach people the business and make it understandable, interesting, meaningful, and maybe even a little fun?
That's the challenge - and that's where The Game comes in.
What if we could approach our day-to-day business activities with the same state of preparation, the same level of knowledge, the same enthusiasm, and most importantly, the same desire to win as we do with any competitive endeavor we pursue?
The Game is strategy and management practice that takes the basic components of any game, applies them to the challenge of running a business, and provides employees (the players) a way to understand, participate and contribute in the overall performance of the business.
The Game levels the playing field and gives everyone the opportunity to act and take responsibility for the success of the company.
The Principles of the Great Game of Business; Every Employee...
- Should be given the measures of business success and taught to understand them
- Know & Teach the Rules
- Should be expected and enabled to act on their knowledge to improve performance
- Follow the Action & Keep Score
- Should have a direct stake in the company's success or risk of failure
- Provide a Stake in the Outcome
Something to think about? You bet!
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