Elevate with Robert Glazer Elevate Classics: Jack Stack on Winning The Great Game of Business
Jun 24, 2025
In this engaging dialogue, Jack Stack, a business pioneer known for revolutionizing corporate management and author of The Great Game of Business, shares his insights on open-book management. He highlights how transparency fosters teamwork and employee empowerment. Jack recounts his entrepreneurial journey, discussing challenges of business acquisition during tough times and the advantages of financial literacy in enhancing team collaboration. He also explores the transformative power of gamification in boosting employee engagement, demonstrating how ownership cultivates a vibrant company culture.
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Jack Stack's Early Entrepreneurial Struggles
- Jack Stack started business ventures selling turtle babies as a child but faced early failures by age 19.
- His entrepreneurial urge was strong even as educational and other systems rejected him early on.
Turning Around a Struggling Plant
- Jack was tasked with turning around a struggling International Harvester plant in Missouri.
- He discovered an entrepreneurial community ready to embrace change and succeeded in winning multiple corporate awards.
Employee Buyout and Financial Awakening
- Jack Stack led an employee buyout of the SRC division with $100K cash and $9M debt during a severe economic downturn.
- He realized the importance of understanding the financial specs of a business beyond just the product.
