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I seen a bit on the local PBS station about a fellow who was having some success with his companies, while many others had hit the wall pretty hard. This had peaked my interest and I remembered the name of the subject of the piece. A few days latter, I had some time to look for that name in the ‘books’ section of eBay’s half.com web site. The price was good, so I ordered it. The book itself told of Mr. Stack’s experiences in encouraging his employees to go that extra bit that often determines whether or not a company makes it. The problem that most will see is that to maintain control of the company, 51% of the company remains in the hands of the owners. This is offered to the employees after they had worked for the company for a certain length of time. The basic idea is to give the employees a chance to purchase a part of the company that they work for while giving them (at no charge to the employees) a short course on business. The company managers also tell how the company is doing during these teaching courses, while telling just why the company is performing or not performing and then tying that information in with the various teaching exercises. Sounds like a MBA on the cheap. The employees who are part owners get a vote in just how the company is to go about its business --- hence the book’s name. And those that are part owners get bonuses --- this is a key point as they vote as to whether or not the bonuses are given or not. The book reminded me some of what I’ve heard about the 3M Company of Minnesota. A final point is that the employees are treated well because of their power with in the company.Read full review
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