OPEN BOOK MANAGEMENT SYSTEMS: A management style
in which everything is revealed to employees and there are no secrets.
Open-book management involves not only revealing a company's
full financial information to its employees but also making
transparent all of the workings of the company.
Open-book management has been viewed as enabling the
empowerment and involvement of the workforce,
increasing employee motivation and organizational efficiency.
Management are always interested to retrain the best employees
and retention is difficult.
Motivation can never be defined numerically,
and can be consistent. The levels may swing day to
day,management Gurus have talked about Self-Motivation,
but for an "Cerebral Animals" we the homosepians requires
a different and an unique type of motivation.
In any "Knowledge Oriented Job" one must have a different
outlook and prospective regarding Motivation.
Motivating the knowledge workers is the most difficult
task and with all my experiences in the knowledge industry
I have found that they are of a different breed of people.
Transparency can work wonders for the knowledge workers,
they can assess them with their figures.
ESOP has worked wonderfully and the sense of competition
not within inside but outside can happen.
Please Play the Video to get a deeper
understanding of Open Book Management.
Courtesy: The Wall Street Journal.