Stake in the Outcome: Building a Culture of Ownership for the Long-Term Success of Your Business Paperback – 28 Oct 2003
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"At a time when doubt shrouds the U.S. economy, Jack Stack's book is a beacon of hope. It is a little bit about technique and a lot about unleashing the good sense of the American worker." -Tom Peters
"[Jack Stack's] open-book approach is generating intense interest among businesses large and small. . . . About 1,500 companies, including many Fortune 500 concerns, have toured [SRC] to learn about the merits of disclosing everything to rank-and-file workers."
-"The Wall Street Journal
"The results at SRC are nothing short of breathtaking. The Great Game has resulted in one of the most competitive companies I've come across in all my years at "Inc."" -George Gendron, Editor in Chief, "Inc."
"From the Hardcover edition."
At a time when doubt shrouds the U.S. economy, Jack Stack s book is a beacon of hope. It is a little bit about technique and a lot about unleashing the good sense of the American worker. Tom Peters
[Jack Stack s] open-book approach is generating intense interest among businesses large and small. . . . About 1,500 companies, including many Fortune 500 concerns, have toured [SRC] to learn about the merits of disclosing everything to rank-and-file workers.
"The Wall Street Journal
The results at SRC are nothing short of breathtaking. The Great Game has resulted in one of the most competitive companies I've come across in all my years at "Inc." George Gendron, Editor in Chief, "Inc."
"From the Hardcover edition.""
From the Inside Flap
The First Management Classic of the New Millennium!
A bold experiment is taking place these days, as leading-edge companies turn upside down the management paradigm that has dominated corporate thinking for more than one hundred years. Southwest Airlines is perhaps the most visible practitioner, soaring through economic downturns while its competitors slash their budgets and order massive layoffs, but you can find other pioneers of the new approach in almost every industry and market niche. Their secret: a culture of ownership that allows them to tap into the most underutilized resource in business today-namely, the enthusiasm, intelligence, and creativity of working people everywhere.
No one knows more about building a culture of ownership than CEO Jack Stack, who's been working on one for the past twenty years with his colleagues at SRC Holdings Corporation (formerly Springfield ReManufacturing Corporation). Along the way, they've turned their company into what "Business Week has called a "management Mecca," attracting thousands of people representing hundreds of businesses to SRC's home in Springfield, Missouri. There the visitors learn how to incorporate the ideals and values of SRC's remarkable corporate culture into their own organizations-and then they go back and do it.
Now, in "A Stake in the Outcome, Stack offers a master class on creating a culture of ownership, presenting the hard-won lessons of his own twenty-year journey and explaining what it really takes to build for long-term success. The pioneer of "open-book management" (described in the best-selling classic "The Great Game of Business), Stack and twelve other managers began their journey in 1982, when theypurchased their factory from its struggling parent company. SRC grew 15 percent a year, while adding almost a thousand new jobs, and the company's stock price rocketed from 10 cents to $81.60 per share. In the process, Stack discovered that long-term success required constant innovation-and that building a culture of ownership involved much more than paying bonuses, handing out stock options, or setting up an employee stock ownership plan. In a successful ownership culture, every employee had to take the fate of the company as personally as an individual owner would. Achieving that level of commitment was extraordinarily difficult, but Stack realized that the payoff would be enormous: a company that was consistently able to outperform the market.
"A Stake in the Outcome isn't about theory-it's about practice. Stack draws from his own successes and failures at SRC to show how any company can teach its employees to think and act like owners, including how to implement an effective equity-sharing program, how to promote continuous learning at every level of the organization, how to fire up employees' competitive juices, how to broaden the concept of leadership and delegate responsibility for the business, and how to build a workforce that is fast on its feet and ready to take advantage of every opportunity. You'll also learn about other companies that have succeeded in building cultures of ownership-and the lessons they can teach the rest of us.
Written in Jack Stack's straightforward, witty, no-beating-around-the-bush style, "A Stake in the Outcome is like having a one-on-one session with a master entrepreneur and business innovator. It shows managers and executives of companiesboth large and small how to build a ferociously motivated workforce that is energized and committed to meeting and overcoming the most daunting challenges a company can face.
"From the Hardcover edition.See all Product Description
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Open book management is a great concept that has made a significant difference for a lot of companies, and even the U. S. Coast Guard. Stack presented the concept in his 1992 book, "The Great Game of Business" (Currency Doubleday). That book was a valuable how-to package.
"A Stake in the Outcome" is more of the story of the transformation of a remanufacturing plant owned by a large corporation into a thriving independent business. In the midst of the text, the reader will find some advice, some brief case studies of other companies, and some experience descriptions that may be instructive. But, when it all shakes out, this is the story of the growth of a business. It's an historical review with plenty of detail. It's Jack Stack's story.
If you're looking for an instruction book of how to build an employee-centered open book management company, this isn't it. If you're looking for an instructive report of what one company went through, from the leader's perspective, this book fits that description. It's Jack Stack's book, even though Bo Burlingham, an editor-at-large of Inc. Magazine, is shown as co-author. Burlingham's photo doesn't appear on the dust jacket, just Stack's.
Reading the book is like listening to Stack telling his story, with the emotion, the ego, the pride, and the rough-and-tumble. It would be interesting to hear this story shared by others. You can gain that experience by visiting SRC in Springfield, Missouri, but you can't get it from this book.
Stack and his cohort at SRC have, literally, created a new business model - in the sense that Peter Drucker uses the term. There are significant lessons to be learned here and I intend to point my Strategic Management students in the direction of this book. What is particularly appealing to me is that the book is not a watered down "ain't we wonderful" retrospective summary. It's a detailed presentation of what went on including all of the mistakes and "lessons learned".
However, A Stake in the Outcome made up for it! If you've ever considered becoming an entrepreneur, READ THIS BOOK!