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4 Types of Planning for Sustainable Business Success

  Planning is the pinnacle for any business. Without goals and plans to attain those goals, your company will struggle to grow and improve. In fact, a study published in the Journal of Management Studies stated that although businesses can find success without planning, companies with a plan grow 30 times faster than those who do not have one.  Springfield Remanufacturing Corporation (SRC) is well-known for its High-Involvement Planning™ structure. Using this structure, all SRC divisions develop their strategic plans and come together as a collective organization—involving everyone in the company, from hourly employees to management, in the planning process. While it might seem extensive, this process proves an integral component of our open-book management structure. Over the years, educating, empowering, and engaging everyone at all levels in the business has repeatedly generated positive results. SRC uses four types of planning that translate directly into our sustainable business success. Let’s dig deeper into each of these four key types of planning:
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How Ownership Can Power The Pursuit Of The American Dream

 
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4 Tips for Creating a Generational Inclusive Workforce

May 6, 2021 by Tonia Morris 0 Comments
For the first time in our history, we have five generations in the workforce, each generation bringing a different perspective and their own set of expectations. Millennials are now the largest generation in the workforce, and employers must rethink their workforce norms. As diversity grows with this generational shift, employers across the globe are challenged to adopt best practices for building and maintaining generational inclusion in the workforce to attract and retain top talent in their organization.
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Building An American Dream

May 4, 2021 by Darren Dahl 1 Comment
  How one entrepreneur uses The Great Game of Business to help fulfill her childhood ambition Erika Cisneros first dreamed of studying the law back when she was in the fifth grade. Her class conducted a mock trial of Goldilocks—who was charged with breaking-and-entering the home of the three bears—and she presided over the case as the judge. “That’s when I fell in love with the courtroom,” says Cisneros.
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The Collective Wisdom is Greater Than You

Apr 29, 2021 by Dave Scholten 0 Comments
A few years back, we hosted our Annual Great Game of Business Conference with the theme, “The Wisdom of the Crowd.” The event has always been a great place to learn from other open-book practitioners, and specifically remember this Gathering's opening keynote speaker James Surowiecki speaking about his book, The Wisdom of Crowds, which discusses how the collective wisdom of a group can outweigh the wisest person within the crowd. I was conflicted. How can the average of a group of contributors yield a greater result than that of the highest member in the group? For me, this was a hard-to-understand concept that seemed to severely oppose my traditional, mathematical thinking.
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Hey Jeff Bezos: Here’s One Way Amazon Can Become The Best Employer On The Planet

Apr 27, 2021 by Darren Dahl 1 Comment
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What is Democracy in Business?

We run SRC with a lot of participation, but it is not a democracy in the political sense of the word. A political democracy derives its authority from the consent of the governed. A company derives its authority from the consent of the marketplace. The people who work for a company may think it’s just terrific, but they’ll have to work somewhere else if the company doesn’t make money or runs out of cash. So the market tells us what a lot of our decisions have to be. Often the trick is to recognize what it’s saying.
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Going Beyond The Mission Statement

  Words are cheap. What I mean is that it’s easy to say something, but it’s a heck of a lot harder to actually put those words into action. For example, I’ve been thinking a lot recently about how it’s become commonplace for companies to trumpet their mission, vision, and values. Everyone says they have a higher purpose with their business, something more than just pursuing profit, which is great. The idea is to show your associates, your customers, and the communities you operate in that you have a higher purpose than just making money at their expense.
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Boosting Employee Retention by Building Careers

Apr 14, 2021 by Lauren Haley 0 Comments
Companies with the best people will dominate their market. Jack Stack has been saying it since SRC set their 2019 Critical Number™ as "People." But how do you attract, and maybe more importantly, retain the best employees as we head into a post-pandemic world? By providing them with more than a day job, but a career where they're learning, growing, and contributing to the success of the organization.
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Valuations Through the Pandemic

Apr 8, 2021 by Tom DeSimone 0 Comments
  During March 2020, when the COVID-19 pandemic reached the U.S., it not only impacted the health of many Americans but also quickly resulted in economic instability: thousands of businesses were shuttered, the unemployment rate spiked, there was a significant drop in personal consumption expenditures and GDP plummeted. However, the U.S. government intervened, helping to stem further declines by offering unemployment and stimulus payments to eligible individuals as well as programs such as the Paycheck Protection Program to assist businesses in continuing their operations. As a result, the U.S. economy began to recover; still, it has lost ground since early 2020.
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Free Markets. Free People.

The transformative power of business is not exclusive to America; it’s universal. I saw this firsthand when I was honored to serve as the American judge on a panel charged with choosing an Entrepreneur of the World, an award sponsored by a major consulting company. While I had judged similar Entrepreneur of the Year awards back in the United States, this time I was invited to fly to Monte Carlo for the globally focused event.
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Why Choose an ESOP?

Mar 30, 2021 by Tim Jamison 0 Comments
When it comes to deciding upon an exit strategy, owners of closely-held businesses have a lot to think about. Faced with the frightening prospect of turning over the business they have worked so hard to build to new ownership, they might worry about what will happen to the company – and their employees – once they’re gone. Selling the business to a third party isn’t always a welcome or viable option. But if there isn’t a qualified management team or successor in mind, what’s a business owner to do?
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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.