Why Financial statements Are Not Enough
As I mentioned in the Introduction, companies traditionally “keep score” with financial statements: Income Statements, Cash Flow Statements, and Balance Sheets. Keeping in mind that Ownership Thinking is largely about engaging employees in the financial performance of the company, logically speaking, you will have to begin sharing some financial information with your employees. This does not mean that you must share detailed financial statements with them, however. In fact, there are several reasons why using financial statements to keep score with employees might not be adequate:
1. Financial statements are historical documents. By the time they are available, it is too late to do anything about the results. ...
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