Silver n' Gold Inc. recently introduced a new control philosophy where all employees have access to the same information that owners have, such as what money is coming in and where it is going. This is an example of which of the following? a. Balanced scorecardb. Six Sigmac. Continuous improvementd. Total quality managemente. Open-book managerment

Question

Sam Henry

Business

10 October, 08:17

Silver n' Gold Inc. recently introduced a new control philosophy where all employees have access to the same information that owners have, such as what money is coming in and where it is going. This is an example of which of the following? a. Balanced scorecardb. Six Sigmac. Continuous improvementd. Total quality managemente. Open-book managerment

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Dahlia Jacobson · Answer 1

E) Open-book management

Explanation:

Open-book management is a management approach, proposed by John Case in 1993. Case advocated for a management system where employees could have access to complete information about the company they work for.

The whole idea behind employees knowing everything is that they will understand how the company is doing: Is it making a profit? Its sales are increasing or decreasing? According to Case this should motivate employees and increase their efficiency.

This management approach leads to a better employer - employee relationship, built upon mutual trust.