Company Background
The Booksource got its start in 1974 when Sandy Jaffe bought a company called Paperback Supply, a local book wholesaler in St. Louis, MO. Jaffe subsequently made many changes to the business, expanding through several acquisitions and changing its name in 1987. Today, the business operates four divisions, including two binderies, and is one of the leading providers of books to school districts across the country. Some of the biggest changes came after the company began playing the Great Game of Business three years ago under the guidance of Gary Jaffe, the company’s COO, and Kim Hart, PHR, Vice President of Human Resources.
Business Challenges
While the Jaffes operated Booksource with an open culture, they recognized that they needed a more structured approach to engaging their employees – many of whom do not have college edu-cations – and teaching them financial awareness about concepts like budgeting and cash position. “We were doing some open book things like putting up company-wide scoreboards, but that was just sharing the results of what had already happened,” says Gary Jaffe. “We needed to start forecasting so that we could see what would happen next.”