Which of the following statements best describes open-book management?
A) A management system whereby all employees are involved in financial decision-making.
B) A management system whereby all employees are allowed to view financial information to understand how their work contributes to company success.
C) A management system whereby bankers and other lenders are privy to common accounting information to evaluate a potential borrower's financial soundness.
D) a and b only

Question

Quizplus · Accepted Answer

Open-book management is a system where all employees are allowed access to financial information to understand how their work impacts the company's success, fostering transparency and accountability.

Which of the Following Statements Best Describes Open-Book Management