Open-Book Management on Safari
Thursday, September 7th, 2017
1:10 PM - 2:10 PM: Concurrent Sessions II
Room: Topaz
 
Imagine some of the toughest management conditions possible: no running water, no paved roads, frequent power outages, and employees from different cultures, with limited education, and speaking at least three different languages. Despite these challenges, The Great Game of Business flourished in a remote South African business.


In the fall of 2015, a community craft center that makes beads from recycled glass began an open-book management experiment. They installed a white board in the back room and asked the members to start tracking a few numbers. At the same time, they taught the basics of the income statement and began installing all the administrative tools and procedures necessary to have a transparent financial system.


The results were amazing: the number of visitors, sales, and sales per visitor all began increasing. In 2016, they ended the year with a 20-fold increase over the previous year. In addition, the center began to cash flow its own operation, and all members set up their own bank account from which they regularly buy their own supplies. There is even enough money to make a monthly deposit into a retained earnings savings account.



You are invited to share a positive, uplifting success story demonstrating that even in the in the toughest circumstances, the power of open-book management can help the human spirit overcome.

If open-book can work here, it can work anywhere.



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