Open Book Management and Feeling Better
2 Comments Published by Dr. Beyster May 10th, 2010 in Employee Ownership, San Diego.My daughter Mary Ann Beyster recently brought an interesting article to my attention. The article is about a company in Missouri by the name of SRC Holdings Corporation. The company practices what is known as “open book” management, that is, all employees are given detailed company financial information on a regular basis and taught what all the numbers mean. They also learn how the company’s financials impact the company, their customers, and them personally. In addition, every employee owns a stake in the business. The company seems to be weathering the current economic crisis well and is positioned for an eventual upturn.
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Most of last week I was not feeling well so I stayed home. By the end of the week, my X-rays showed that the walking pneumonia was mostly gone, so I went out on the boat with Ron Arnold and Bob Peters, who is married to an ex-SAIC employee. We went to Oceanside and I managed to handle the extra stress of being out on the water.
This week I’m taking it relatively easy. I’m planning to meet with J.P. Morgan — they manage an investment portfolio for us, including some of our more risky investments. They are doing very well in this environment, which is not an easy thing to do.
– Bob
Dr. Beyster:
I am sorry to learn that you have been feeling under the weather (an interesting phrase with an apparent nautical origin which I also had to look up when I looked up “walking pneumonia”). I spent a week in the hospital when I was 12 with a case of (I guess would be called) “non-walking pheumonia”, so you have my knowing sympathy and very best wishes for a speedy and complete recovery!
I am concerned also about the oil spill and distressed at the situation BP finds itself in. I enjoyed meeting and working with a number of dedicated BP employees and fine scientists on assignments with SAIC and I know they all must feel very frustrated at not being able to find a quick technical solution and also at (apparently) having the technology fail. I hope that the wellhead equipment will eventually be able to be retrieved so that the failure mechanism can be understood. I believe this is important, as I also believe that we will need to continue to tap these resources in the future regardless of progress on alternative fuels.
Cheers,
Bill
Bill: Thank you for your response. I am feeling much better now. — Bob