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Open Book Management
Open-Book Management is not only a management technique, but a way of thinking that actively involves Draper Aden Associates’ employees in the financial life of the company. Our financial status, excluding pay information, is fully shared with our employees, who then become active participants in a coordinated effort to optimize future financial performance. Each month, and in each office, key financial documents, such as income and cash flow statements and balance sheets, are shared with employees for review and discussion.
Our senior management is committed to an open operating environment. By opening our books and sharing financial information (both the good and the bad) we find that employees spend less time worrying about job security and more time helping the company grow and be profitable.
The overall advantage of our successful open book management program is that our staff knows what the numbers mean and, as a result, they work together toward the same goals. They are equipped with the knowledge of improving the company, organizing and managing themselves in a way that corresponds with our company’s strategic goals.