The Law Dictionary

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OPEN BOOK MANAGEMENT (OBM) Definition & Legal Meaning

Definition & Citations:

The philosophy that a firm will succeed if all of the employees share finance and operations information. Four basic practises are necessary for this: 1. Employees must be appropriately trained. 2. Employees must be empowered to use this information to cut costs. 3. Employers must trust employees to act as equal business partners. 4. Employees must be fairly rewarded for business success.


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