The Great Game of Business Blog

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5 Golden Rules of Teaching Financials to Employees

  If you approached an employee at your company and asked them who creates the financial numbers in your company, what would they say? Odds are, they’d probably point to the accounting department. Sure, accounting has a lot to do with your company financials, but they don’t really create them. Your employees create the financials through the decisions they make and the actions they take.
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7 Reasons Organizational Knowledge Is Power

Nov 8, 2018 by Donna Coppock 2 Comments
Historically, businesses using traditional management styles have been reluctant to give all of their employees the knowledge they need in order to make good business decisions day in and day out as they do their jobs. Open-book management takes a much different approach. It’s all about capturing and sharing both financial and organizational knowledge with every employee and empowering them to use that knowledge to contribute to the long-term success of the organization, as well as their own personal success. The benefits of knowledge sharing are numerous:
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Eliminating Distortions in Your Data

Aug 14, 2018 by Greg Crabtree 0 Comments
  It is not uncommon for every business owner to start a discussion about their P&L statement with “well, that net income number is not correct,” then go on to list all of the things they would change if their accountant didn't make them do it that way. Business owners need to take back responsibility and control of their financial reporting and follow these simple principles to make their P&L a useful document.
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Are You Too Afraid to Open the Books?

May 25, 2018 by Steve Baker 0 Comments
If you are reading this and haven't already "opened the books" to share company financials with your employees, my guess is it's because you are scared.   Financial transparency in business is a concept so new, so counter to the way business has always been done, no wonder it scares people.  Just the thought of opening the books is followed by a whole list of what-ifs.
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Building a Business of Businesspeople at Netflix

May 3, 2018 by Rich Armstrong 0 Comments
Few companies exploded onto the scene the way Netflix did in the late 1990s.  Perhaps more impressively, the company beat back an 800‐pound gorilla called Blockbuster Video on its way to radically changing how many of us now consume TV shows and movies. What makes Netflix’s success interesting is how it managed to embrace several massive changes in its business model as it outmaneuvered its much larger rival. The first of those big shifts was when co‐founder Reed Hastings decided that Netflix would begin offering monthly subscription plans to its customers where they could rent as many movies as they liked for a flat fee. Even more radical was the notion that it would also eliminate late fees—which made up a large percentage of Blockbuster’s revenues.
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Tips for an Outstanding Huddle

The Huddle is perhaps one of the most beautiful components of the Great Game of Business.  There is something special about getting everybody in the same room to go over how the company is doing financially and physically that astonishes people. No outsider who comes to SRC to see a Huddle ever leaves disappointed in the level of engagement, curiosity and fulfillment in each of SRC’s employee-owners.
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Jenner Ag's Great Game Story

Feb 14, 2018 by The Jenner Ag Team 0 Comments
We're Jenner Ag and we are a practitioner host for The Great Game Experience. We're very excited to partner with The Great Game of Business team for this event. We wanted to tell you a little more about our story and how we practice open-book management in our organization.  Before we had ever heard about The Great Game of Business, Jenner Ag was a profitable company… but we knew we had more potential. Although the profit sharing program the company had implemented years ago was quite successful, the management team could feel it getting stale. Worse, the employees had come to view it as more of an entitlement than something they had to earn. It desperately needed reenergizing.
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5 Ways to Reinvigorate Your Financial Literacy

Opening the books only works when people are taught to understand them — which is best done both formally and informally. When The Game is created with broad participation — specifically the people who are closest to the action and who understand the realities — it creates a level of commitment and alignment that just can't be matched.
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The Management Style Every Millennial Should Know

Jul 7, 2016 by Steve Baker 0 Comments
Amy’s Ice Creams’ workforce is made up primarily of millennial's, most of which are seasonal employees. It’s important to founder Amy Simmons to engage these employees during their short time with the company in order to make a lasting impact on their futures, as well as the success of the business. Amy’s Ice Creams, a long-time Great Game of Business practitioner, uses fun, fast paced and positive company-wide huddle rallies as one way to educate and engage their employees.
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The Efficiency MiniGame

  Rolf Glass is a small manufacturer of decorative glassware in Pennsylvania. When the company first began teaching the Critical Numbers to its employees, the leadership at Rolf Glass noticed that there was a lot of room for improvement. In 2013, it was running at an average 88 percent efficiency, thus losing 12 percent of product.
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What Does Cash Flow Mean to Employees?

Oct 12, 2015 by Dave Scholten 0 Comments
When the company does well, our professional lives go forward, but when the company doesn’t do well, eventually, it will impact the employees. The most common employee response to a company failure is “we never saw this coming!” Over the last 10-20 years, we have watched large, successful U.S. companies enter into failure mode. It constantly hits our media networks. It’s painful to see the impact of this demise on the people who have committed their professional lifetime to the failing company. The failure of the corporation never seems to be “fair” to these employees. So, it’s appropriate to propose that the company’s success has to be important to the employees.
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Using Education and Open-Book Management to Improve Your Cash Flow

In business, there isn’t anything more important than cash. Cash is the oxygen of the business that enables it to survive and prosper. While a business can survive for a short time without sales growth or profits, without cash it will not survive. For this very reason, the inflow and outflow of cash must be carefully watched and managed. Employees and Cash Knowledge If you were to ask your employees, “Who generates the cash?” what would they say? Would they point to your sales team? Management team?
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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.