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Article: Does open-book really work?(Open-Book Management)
- Article from:
- Chief Executive (U.S.)
- Article date:
- July 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Call it just another flavor-of-the-month management theory, if you like - one that sounds nice in theory, but is prohibitively complicated in practice. But the diehard fans of Open-Book Management (OBM) may have a bone to pick with you. OBM, they say, has enabled companies that were otherwise hard-pressed to motivate employees to light a collective motivational fire beneath their weary workforces.
In 1983, International Harvester Corp. (IHC), then a Fortune 100 company, was in serious financial trouble. One of its divisions, an engine remanufacturing facility, was near-bankrupt when a group of IHC managers decided to come to its heroic rescue, on the belief that ...