P5 Learning Series: Open Book Management

Open Book Management: engagement, education and excellence

Managers

Learn how to increase staff/member/resident engagement in day-to-day operation through sharing financials as a way to show how your business practices and values translate into financial viability or how certain processes and lack of engagement can strain your organization.

 

Co-op Staff/Members/Residents

👉REGISTER HERE!

The impetus for introducing Open Book Management (OBM) is often to bring more transparency and achieve improved financial performance. While these goals are important, OBM is so much more! Implementing an OBM philosophy is about changing the culture of your business (or community). It’s about management letting go of some of the control, opening up a dialog, and drawing employees (or community members) into decisions that can bring about lasting change. OBM is about numbers and finances, but it’s also about operationalizing the Ends. It’s a way to help every member of the staff recognize how the work they do every day connects to the larger, long-term goals of the co-op.

Giving employees the opportunity to engage in thoughtful conversation, participate in decision-making and be part of setting goals offers them something more than their daily tasks. More importantly, understanding how those tasks impact the bottom-line can really ignite people’s enthusiasm to do an excellent job every day. Within OBM culture, the conversation returns time and again to the ways in which everybody’s actions impact sales, margin, labor and the long-term success of the co-op.

In this workshop, we will review the potential benefits of Open Book Management and the elements needed for its successful adaptation into a cooperative business model.

Presenter: Melanie Reid, Columinate