Central States Manufacturing, a Lowell, Arkansas-based manufacturer of metal building components, has been selected by the Great Game of Business for a 2012 All Star Award.
This award honors three businesses each year that fully embrace the principles of open-book management and can demonstrate outstanding results to motivate and empower employees. The announcement and award presentation were made May 10, at the Annual Gathering of the Games held at the Hyatt Regency Hotel in St. Louis, Mo.
The selection process for The Great Game of Business All Stars isn’t an easy one. First, a company’s employees are surveyed. Do they have a deep understanding of the company’s financials, and are they empowered to make decisions that directly affect the financial success of the company?
Central States strives to ensure all employees are kept in the loop on all financial decisions and outcomes. Employees are aware that their decisions don’t just affect some faceless corporation — they affect their own personal success.
Second, the company’s financial results are studied in order to prove that the company’s open-book practices are achieving positive results. This isn’t just about bottom-line profits, but about other factors as well, such as revenue growth and other critical business outcomes as compared to industry peers.
In a time when other metal building components manufacturers were pulling out of markets and reducing offerings in the wake of the recession, Central States charged forward and even opened a fifth location — with great success.
Finally, the Great Game of Business finds out the company’s story. Every company has a story, and Central States has a compelling one. In 1988, Carl Carpenter saw an opportunity to turn some used sheet metal rolling equipment into a small business. Within two years his son Rick, who is the current CEO, joined him and what followed was an explosion of growth into other markets in Indiana, Texas, Alabama and North Carolina. The company is expected to continue to grow, with plans already in place for future locations.
From Carpenter’s entrepreneurial venture and his son Rick’s business acumen and leadership grew a company that is dedicated to making decisions based on a very important set of company values. These include honesty and integrity, personal achievement and financial success — not just for the company, but for individual employees and their families. It was Rick who first brought up the idea of open-book management after reading the book “Great Game of Business” by Jack Stack.
The Great Game of Business is an organization inspired by the achievements of Jack Stack, who used the principles of open-book management to take a failing company and make it a financial success — as illustrated in his books, “The Great Game of Business” and “A Stake in the Outcome.”
To find out more about the Central States Manufacturing, please visit www.centralstatesmfg.com or call Debby Corwin at 479-770-0188.
To find out more about The Great Game of Business, please visit www.greatgame.com or call Amanda Kuda at 1-800-386-2752.