Opening the Books at Practice Velocity
The Great Game of Business is an open-book management approach that touts the importance of giving everyone in a company a voice and a financial stake in the outcome. “Our ultimate goal is to create a ‘business of business people,’” the GGOB website explains. To that end, when companies sign on with the Great Game of Business, they send out trainers to teach employees the process of simple bookkeeping and calculating profits and expenses.
Practice Velocity implemented open-book management in 2016 after leadership attended Great Game of Business training. Employees gather for weekly huddles each Tuesday morning. During the 15-minute meetings, department heads share how much was spent and taken in during the previous week. The spreadsheet tallies net profit, and employees learn how the company is faring on the trajectory to meet WIG goals and pay out employee bonuses. One of the goals through the Great Game is to improve financial literacy among team members, so there are ongoing efforts to educate employees about costs, expenses, savings, and more.