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What is "Open-book management" as far as its employees are concerned by an enterprise?

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Question ajoutée par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date de publication: 2015/01/11
Irina Chepel
par Irina Chepel , Personal trainer , Freelancer

OBM Philosophy of involving every employee in making a firm more successful by sharing financial and operational information. OBM involves four basic practices training employees so they become business literate and can understand financial statements, empowering them to use that information in cost cutting and quality improvement, trusting them asbusiness partners on equal footing, and rewarding them fairly for the firm's success

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

A management strategy emphasizing employee empowerment and individual impact on the success of the company by making the organization’s financial data available to all employees so they can make better decisions as workers.

Saiful Islam Hiron
par Saiful Islam Hiron , Site HR Manager , Handicap International

Agree with Krishna's answer...

Ahmed Mohamed Ayesh Sarkhi
par Ahmed Mohamed Ayesh Sarkhi , Shared Services Supervisor , Saudi Musheera Co. Ltd.

Agree With U Sir

It’s a way to make employees feels that they are a part of the organization. Agreed with all

Utilisateur supprimé
par Utilisateur supprimé

Irina wonderful answer

krikor markarian
par krikor markarian , Director of Operations , Verde

It is essential that you do not "dumb down" your employees, especially front line supervisors and labourers. They don't have to be equal partners, but they must be well informed and committed partners to the goals of the organisation; goals that are often poorly defined by upper management.

Divyesh Patel
par Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Open-Book Management attempts to extend this feeling of responsibility to everybody in the organisation. The philosophy that a firm will succeed if all of the employees share finance and operations information.

 

  1. Employees must be appropriately trained

  2. Employees must be empowered to use this information to cut costs

  3. Employers must trust employees to act as equal business partners

  4. Employees must be fairly rewarded for business success.

 

 

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