One convert is Kryptonite Corp., the Canton, Mass.-based bicycle lock company. Today, it's a cornerstone of the company's strategy to boost growth every year. Benefits beyond money Experts such as Kevin Ruble, founder of the Pearl Group, a management consulting firm in Dallas that works with emerging companies, says that as open-book management improves a company's bottom line, it also can reduce turnover, help retain employees and streamline operations. It's also a great way to get business done in today's swiftly changing times.
Nobody has the time to have things passed up and down the management chain.
You also have to give them a stake in the company by giving them bonuses for meeting financial objectives. SRC is where open-book management was effectively born. It was pioneered there by Jack Stack, who used it to turn SRC around after he bought the then-troubled division of International Harvester. Those who forgo the Great Game of Business training can hire a consultant like Ruble and the Pearl Group to help with the switch. Some workers only know of management what they've seen on TV, he says.