Asked by M'Kayla McGee on Jun 03, 2024

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The CEO of an online retail store plans to share all financial information with the company's employees.The CEO believes that in doing so,employees will understand how they contribute to the success of the company.The CEO,in this scenario,is implementing

A) knowledge management.
B) double-entry bookkeeping.
C) open book management.
D) on-demand computing.

Open Book Management

Practice of sharing financial information with employees and teaching them how to understand and use financial statements.

Financial Information

Data regarding the financial performance and position of an individual or entity, including statements, reports, budgets, and financial indicators.

Online Retail

Online retail involves selling goods or services to consumers via the internet, leveraging websites or digital platforms to facilitate transactions and deliveries.

  • Recognize various management practices and their impacts on business success.
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HM
Hunter MiggelbrinkJun 08, 2024
Final Answer :
C
Explanation :
Open book management is a business approach where a company shares its financial information with all employees. This strategy is used to help employees understand their impact on the company's success, aligning with the scenario described. Knowledge management involves capturing, distributing, and effectively using knowledge. Double-entry bookkeeping is an accounting method. On-demand computing refers to computing resources available as needed, especially in cloud computing, and does not relate to sharing financial information with employees.