Question 1

What is *The Great Game of Business* by Jack Stack about?

Accepted Answer

*The Great Game of Business* outlines Jack Stack’s open-book management philosophy, where businesses operate like games with clear rules, financial transparency, and employee ownership. By teaching all employees to read financial statements and tying their success to company performance, Stack transformed Springfield Remanufacturing Corporation (SRC) from near-bankruptcy into a multimillion-dollar enterprise. The book emphasizes collective accountability, financial literacy, and participatory decision-making.

Question 2

Who should read *The Great Game of Business*?

Accepted Answer

Business leaders, managers, and entrepreneurs seeking to foster transparency and employee engagement will benefit most. It’s ideal for organizations aiming to align teams around financial goals, democratize decision-making, or implement profit-sharing models like Employee Stock Ownership Plans (ESOPs). Frontline employees interested in understanding business operations will also gain actionable insights.

Question 3

Is *The Great Game of Business* worth reading?

Accepted Answer

Yes, for its proven framework in driving SRC’s revenue from $16M to $83M in a decade. The book offers practical steps to decentralize financial knowledge, create a shared ownership culture, and turn employees into proactive stakeholders. Its blend of real-world case studies and actionable strategies makes it a valuable resource for transforming organizational dynamics.

Question 4

What is open-book management in *The Great Game of Business*?

Accepted Answer

Open-book management involves sharing financial data with all employees, training them to interpret metrics like profit/loss, and linking their performance to company outcomes. At SRC, this approach empowered workers to propose cost-saving measures and revenue-boosting ideas, fostering a culture where “everyone plays, everyone wins”.

Question 5

How did Jack Stack implement the Great Game at SRC?

Accepted Answer

Stack introduced weekly “huddles” to review financials, set short-term goals (“mini-games”), and celebrate wins. Employees received stock options, tying personal gains to company success. By 2013, SRC’s hourly workers held $400K in ESOP shares, and its stock price rose from $0.10 to $348. This system prioritized transparency, accountability, and continuous learning.

Question 6

What are the key principles of the Great Game?

Accepted Answer

1.  **Know the Score**: Share real-time financial metrics.
2.  **Educate Teams**: Train employees to understand financial statements.
3.  **Create Ownership**: Offer stakes (e.g., ESOPs) to align interests.
4.  **Play Mini-Games**: Set short-term, measurable goals to maintain focus.

These principles turn employees into strategic partners invested in long-term success.

Question 7

How does the Great Game compare to traditional management?

Accepted Answer

Unlike top-down approaches, the Great Game decentralizes decision-making by empowering employees with financial knowledge. Traditional methods often silo data, while Stack’s model uses transparency to drive engagement and innovation. For example, SRC workers could suggest operational improvements directly impacting profitability.

Question 8

What role does Employee Stock Ownership (ESOP) play in the book?

Accepted Answer

ESOPs are central to Stack’s strategy, providing employees a tangible stake in the company’s success. At SRC, this led to hourly workers accumulating $400K in shares by 2013, creating a culture where “owners think differently about costs and opportunities”. ESOPs align individual and organizational goals, fostering long-term commitment.

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