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The SRC Story

In 1983, Jack Stack and his 12 business partners scraped together $100,000 and borrowed another $9 million to buy a failing division of International Harvester in Springfield, Missouri.  With the country in the midst of a recession, the future looked bleak for the engine-rebuilding plant they called SRC (Springfield Remanufacturing Corporation). The company’s debt-to-equity ratio was 89-to-1. With hundreds of jobs on the line and morale at an all time low, Stack knew something drastic had to be done to keep the business from folding.

The solution was as simple and sensible as they come:  turn business into a game. This new approach to running a company was called Open-Book Management and was later coined “The Great Game of Business”.  Through using this approach, SRC has become a thriving company of over 1,200 engaged employees in more than 17 business units across a variety of industries.  This once struggling company with a stock price of only ten-cents per share in 1983 is worth over $420 a share today.