Attempts to show the financial condition of the firm to employees to get them to think like owners of the firm are known as_______ .

Question

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Open-book management is a management practice that involves sharing financial information, key performance indicators, and other important business metrics with employees to give them a better understanding of the financial condition of the firm. This helps employees to think like owners of the firm and make more informed decisions that can help improve the overall performance of the company. Telecommuting, work-sharing arrangements, and pay-for-performance programs are all different management practices that do not involve showing the financial condition of the firm to employees to get them to think like owners.

Attempts to Show the Financial Condition of the Firm to Employees