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Opening the books, growing the business Logo cgma

  Neil Amato |   Free |   AICPA and CIMA |   01 Jun 2016 |   CGMA Magazine

This article explores how companies that share information with employees find that transparency makes everyone more visionary.

Topics covered:
  • Management accounting: Leadership: Team building, Intermediate
  • Management accounting: Leadership: Team building, Advanced
  • Management accounting: Leadership: Driving performance, Intermediate
  • Management accounting: Leadership: Driving performance, Advanced

1 Comments/Reflections

Lalit Bhandary

Lalit Bhandary Jun 2016

A very good article, with simple example the benefit of concept of Transparency and open-book management are well explained.
I like the part of owning the process to have more commitment, engagement and retention.

In my 20+ years of financial experience I have seen these benefits coming in an open book environment. I have worked in organisation with closed and also open.

When I read this article I could relate the principles, benefits and deliverables very structurally.

Some examples were in this article was very inspirational for me. One of them specifically 

"When you own something, you take more responsibility, you take more care, you are more loyal and committed to helping deliver success,” said Louisa Hosegood, FCMA, CGMA, the head of assurance, operations at John Lewis."

i am certainly in agreement and like it.

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