What are the three principles of the open-book management approach? W

QUESTION

What are the three principles of the open-book management approach?

What will be an ideal response?c

ANSWER

Answer: The open-book management approach has three principles: the first is to create a transparent company in which everyone sees and understands the numbers; the second is to create a system of joint accountability, which holds everyone in the firm responsible for its performance; and the third is to give people a stake in their success.
Explanation: The open-book management approach has three principles: the first is to create a transparent company in which everyone sees and understands the numbers; the second is to create a system of joint accountability, which holds everyone in the firm responsible for its performance; and the third is to give people a stake in their success.