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    A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book)
    A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book)
    A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book)
    Ebook49 pages22 minutes

    A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book)

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    The must-read summary of Jack Stack and Bo Burlingham's book: "A Stake in the Outcome: Building a Culture of Ownership for the Long-Term Success of Your Business".

    This complete summary of the ideas from Jack Stack and Bo Burlingham's book "A Stake in the Outcome" shows that to succeed in creating an employee-owned and operated company, employees have to be taught how to think and act like owners. This summary advises business managers to go beyond the traditional ways of rewarding employees, and teaches them how to build a sustainable ownership culture which provides employees with the right tools and attitude to carry out their responsibilities with the goals of the wider company at heart. This summary outlines fourteen rules of 'Employee Ownership' and systematically addresses each point, often illustrated with examples. At the end of this summary you should have a clearer understanding of how to empower your employees with the trust and intelligence they need in order to act in the company’s best interests, without necessarily handing out company shares.

    Added-value of this summary: 
    • Save time 
    • Understand the key concepts
    • Increase your business knowledge 

    To learn more, read "A Stake in the Outcome" and discover the rules of employee ownership. 
    LanguageEnglish
    PublisherBusiness Book Summaries
    Release dateFeb 15, 2013
    ISBN9782806222558
    A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book)

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      Book preview

      A Stake in the Outcome (Review and Analysis of Stack and Burlingham's Book) - BusinessNews Publishing

      Book Presentation

      A Stake In The Outcome by Jack Stack and Bo Burlingham

      Summary of A Stake In The Outcome (Jack Stack and Bo Burlingham)

      Book Abstract

      MAIN IDEA

      Can an employee-owned company function as effectively as a company run by professional managers for its owners?

      Conventional wisdom says no, but a growing number of companies would say yes. The key, however, is not simply to pay performance bonuses, hand out stock options or even just to set up an employee stock ownership plan. To succeed in creating an employee-owned and operated company, employees have to be taught how to think and act like owners. In short, an ownership culture needs to be fostered within the business organization. Achieve that and your company can and will consistently outperform the market.

      To build a sustainable ownership culture, employees need to be provided with two things:

      The right tools for the job – which will mean training in how to read and understand the financials of the business.

      The right attitudes for the job – consisting of a willingness to innovate and optimize continually.

      Many people confuse open book management with building an ownership culture. They assume that if a company discloses all the critical financial information to its employees, they will automatically act in the best interests of the company. The only problem with that idea is that most employees have a fairly basic grasp of financial reporting. Consequently, even if they have access to more complete financial information, they have no experience in interpreting that information in meaningful ways. In addition, most employees tend to be process focused – they look at their operational part of the business and understand what’s required there but are unable to relate those operational issues to the broader operation of the company as a whole.

      To illustrate how well an employee-owned company can perform, consider the example of Springfield ReManufacturing Corporation (SRC) based in southwestern Missouri. In 1983, 13 employees led by CEO Jack Stack invested $100,000 to buy the factory where they worked. At that time, the company had sales of $16 million, 119 employees and each share of SRC stock

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