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Transform Your Business With Open Book Management Featuring Rich Armstrong
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In this episode of The Better Leadership Team Show, I dive into the transformative power of open book management with Rich Armstrong, a Senior Coach at The Great Game of Business, Inc. SRC Holdings Corporation. He has more than 33 years of experience in improving business performance and employee engagement through open-book management (OBM) and employee ownership, with service as a consultant and as an executive at SRC Holdings Corporation, a 40 Year Employee-Owned Company and one of America's top 100 largest majority employee-owned companies. Rich also served as the President of The Great Game of Business for 17 years, where he co-authored the update to The Great Game of Business 20th Anniversary Edition and his new book ‘Get in the Game: Creating Rapid Financial Results and Lasting Cultural Change’ with Steve Baker. This practical, “first-hand” experience has enabled him to successfully apply the practices of OBM and Employee Ownership in both small and large-scale company implementations around the world.
In this episode, we discuss the critical role of trust in leadership teams, the true essence of open book management beyond financial transparency, and the impactful history of SRC's turnaround. Learn how financial transparency and education can empower your team, the importance of involving employees in financial forecasting, and the benefits of creating targeted mini games to drive performance. Ultimately, we’ll explore how open book management fosters a culture of mutual trust, respect, and proactive problem-solving, fundamentally developing better leaders and driving business success.
The Great Game of Business 20th Anniversary Edition - Book
Thanks for listening! Connect with us at mike-goldman.com/blog and on Instagram@mikegoldmancoach and on YouTube @Mikegoldmancoach
章
1. Transform Your Business With Open Book Management Featuring Rich Armstrong (00:00:00)
2. The Importance of Trust in Leadership Teams (00:02:30)
3. Understanding Open Book Management (00:03:20)
4. The History and Impact of SRC and The Great Game of Business (00:04:51)
5. Financial Transparency and Employee Engagement (00:08:15)
6. Addressing Concerns About Financial Transparency (00:11:06)
7. The Role of Financial Education in Open Book Management (00:13:01)
8. Implementing The Great Game of Business Methodology (00:20:57)
9. Real-Life Example of Mini Games (00:26:45)
10. Principles of Financial Education (00:30:26)
11. Empowering Employees to Act (00:30:39)
12. The Importance of Forecasting (00:31:28)
13. Creating Mini Games for Variances (00:32:46)
14. Stake in the Outcome (00:35:21)
15. Understanding the Critical Number (00:36:45)
16. Cultural Differences in Problem Solving (00:40:53)
17. Leadership Development through Open Book Management (00:44:34)
18. How Great Game of Business Can Help (00:46:40)
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