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Read these lines about a sticker company's founder: "In 2012 he decided to introduce a concept called open-book management, in which he shares the company's financials with employees at a weekly meeting. Fischer believes sharing information about the company's performance, good or bad, not only allows employees to feel part of the operation, but also empowers them to embrace change or suggest ideas that could help the business expand and flourish." According to the quoted lines, what does open-book management involve?
ALetting employees set their own working hours across every department
BPublishing the company's customer list in an open online directory
CInviting employees to buy shares in the company at a weekly auction
DShowing employees the company's financial results at a weekly meeting
Answer & Solution
Correct answer: D. Showing employees the company's financial results at a weekly meeting
1. The quoted lines define open-book management directly: the founder shares the company's financials with employees at a weekly meeting.
2. They add the purpose, that employees feel part of the operation and are empowered to suggest ideas.
3. So the answer is the sharing of financial results with employees each week.
4. Working hours, customer lists, and share auctions are never mentioned in the quoted lines, so the other options invent details.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 1 "Understanding Economic Systems and Business", section StickerGiant Embraces Change_
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