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A Stake In The Outcome
Jack Stack
Building A Culture Of Ownership For The Long-Term Success Of Your Business
Doubleday Business
September 2003
On Sale: September 16, 2003
288 pages
ISBN: 0385505094
EAN: 9780385505093
Paperback (reprint)
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Non-Fiction | Self-Help
The First Management Classic of the New Millennium! A bold experiment is taking place these days, as
leading-edge companies turn upside down the management
paradigm that has dominated corporate thinking for more than
one hundred years. Southwest Airlines is perhaps the most
visible practitioner, soaring through economic downturns
while its competitors slash their budgets and order massive
layoffs, but you can find other pioneers of the new approach
in almost every industry and market niche. Their secret: a culture of ownership that allows them to tap
into the most underutilized resource in business
today–namely, the enthusiasm, intelligence, and creativity
of working people everywhere. No one knows more about building a culture of ownership than
CEO Jack Stack, who’s been working on one for the past
twenty years with his colleagues at SRC Holdings Corporation
(formerly Springfield ReManufacturing Corporation). Along
the way, they’ve turned their company into what Business
Week has called a “management Mecca,” attracting thousands
of people representing hundreds of businesses to SRC’s home
in Springfield, Missouri. There the visitors learn how to
incorporate the ideals and values of SRC’s remarkable
corporate culture into their own organizations–and then they
go back and do it. Now, in A Stake in the Outcome, Stack offers a master class
on creating a culture of ownership, presenting the hard-won
lessons of his own twenty-year journey and explaining what
it really takes to build for long-term success. The pioneer
of “open-book management” (described in the best-selling
classic The Great Game of Business), Stack and twelve other
managers began their journey in 1982, when they purchased
their factory from its struggling parent company. SRC grew
15 percent a year, while adding almost a thousand new jobs,
and the company’s stock price rocketed from 10 cents to
$81.60 per share. In the process, Stack discovered that
long-term success required constant innovation–and that
building a culture of ownership involved much more than
paying bonuses, handing out stock options, or setting up an
employee stock ownership plan. In a successful ownership
culture, every employee had to take the fate of the company
as personally as an individual owner would. Achieving that
level of commitment was extraordinarily difficult, but Stack
realized that the payoff would be enormous: a company that
was consistently able to outperform the market. A Stake in the Outcome isn’t about theory–it’s about
practice. Stack draws from his own successes and failures at
SRC to show how any company can teach its employees to think
and act like owners, including how to implement an effective
equity-sharing program, how to promote continuous learning
at every level of the organization, how to fire up
employees’ competitive juices, how to broaden the concept of
leadership and delegate responsibility for the business, and
how to build a workforce that is fast on its feet and ready
to take advantage of every opportunity. You’ll also learn
about other companies that have succeeded in building
cultures of ownership–and the lessons they can teach the
rest of us. Written in Jack Stack’s straightforward, witty,
no-beating-around-the-bush style, A Stake in the Outcome is
like having a one-on-one session with a master entrepreneur
and business innovator. It shows managers and executives of
companies both large and small how to build a ferociously
motivated workforce that is energized and committed to
meeting and overcoming the most daunting challenges a
company can face.
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