Stack illustrates business philosophy in NY Times

The Feb. 11 article, “Want to Rally the Troops? Try Candor,” details the beginnings of open-book management and Stack’s role in developing it through his book, “The Great Game of Business,” and as CEO and president of SRC Holdings Corp. in Springfield.

Open-book management “can change people’s lives forever,” Stack says in the article, referring to a system that makes a company’s private financial information available to all employees. Stack and fellow open-book management leader Bo Burlingham, who contributed to Stack’s book, were responsible for introducing the philosophy in the early 1990s.

The article follows New York-based Inc. magazine’s pursuit to implement open-book management – a journey that included a recent trip to Springfield for Inc. Editor John Koten to visit with Stack and see him in action.

“People would get up and ask why the costs were so high in this area or that,” Koten said of SRC’s employees, in the article. “You never see that at a big company.”

Following his visit, Koten returned to Inc. and began phasing open-book management into the magazine’s operations.

Stack, Koten and Burlingham will be speaking March 15–17 at the National Gathering of Games open-book management conference in St. Louis.