ACT Like an Owner: Building an Ownership Culture

"Early on, as a company of just six people, we wrote a corporate creed that documented our principles and values-our culture. This creed simply stated that we would build a successful business by focusing on the customer, encouraging entrepreneurial spirit, empowering everyone, and sharing both success and failure. We call this culture an ownership culture. We discovered that this environment was enjoyable to work in and was a powerfull strategy...To this day, when we ask people associated with the company why it was successful, and why they were committed, the answer is always the same. It was empowerment; it was team-spirit; it was vision. It was mutual respect and trust. Most important, it was the culture...This book is a distillation of our experience in creating, nurturing, and maintaining an ownership culture...The ALO model is a synthesis and practical application of leading business concepts along with our own personal experiences...The ALO model is not academic theory, it's a roadmap for applying today's most important management practices to the real-world problem of building an information-era business...In this book, we present the internal franchise, the foundation of ALO and a framework for unlocking entrepreneurial spirit in your organization...The heart of the internal franchise is the ownership culture, a corporate culture built on the principles and values of the entrepreneur. An ownership culture compels everyone in your organization to think and act like an owner of the business" (from the Preface).In this context, Robert Blonchek and Martin O'Neill divide their book into three parts:I. In this part, they present the internal franchise as a framework for putting ownership culture to work as a competitive weapon. According to them an internal franchise consists of three components: an operating model, entrepreneurial employees, and an ownership culture. They argue that "An internal franchise is similar to a traditional franchise operation. In an internal franchise the company makes its operating model explicit and then 'franchises' the operating model to its employees. The employees are then coached, mentored, and trained to operate the business at the highest level of proficiency. In an internal franchise, the franchise agreement is not a legal binding contract, it is the company's culture-an ownership culture."II. In this part, they present a formula for creating an ownership culture. They argue that an ownership culture is a corporate culture based on TRUST:* Teach your employees your operating model.* Reward them based on the performance of the business and their contribution to that performance.* Unconditionally support their actions in order to develop a truly empowering environment.* Share information so that everyone can make effective business decisions.* Be Trustworthy by making and keeping commitments.III. In this part, they apply an ownership culture to one of the most pressing problems facing business today: attrac

If only more companies would realize the power that lies in creating an ownership culture in their organizations! This book presents a truly common sense approach to empowering employees to think and act like owners of a company. I have never been more motivated and have never enjoyed reading a business book as much as this one! I believe this business philosophy would help make a valuable difference in every organization!

"This is an important book--regardless if your organization is for-profit or >like mine--a not-for profit healthcare provider. In fact, industry segments >experiencing tremendous growth and change pressures such as healthcare, >financial services, technology goods and services should take this book to >heart. The premise is sound and it's written from a practical, down to earth >standpoint by authors who have successfully 'been there--done that.' > >

You are either going to adopt the advice and strategy that O'Neill and Blonchek propose.......or else wish you had! Do your employees a favor and buy & read this book.

Being a colleague of O'Neill and Blonchek for many years I congratulate them on this OUTSTANDING accomplishment. This book is based on real experience with real people producing real results. And in classic O'Neill and Blonchek fashion - it's all there for others to benefit.For anyone serious about success in business today this one is a must read.Congratulations Marty and Bob!