The final step of the S.T.E.P. approach to open-book management involves paying employees a fair share of profits through bonuses, incentives, and stock ownership.

S.T.E.P. Approach

A strategic planning method focusing on scanning, targeting, evaluating, and proceeding to address organizational issues or opportunities.

Open-Book Management

A management approach where financial information is shared with employees to involve them in understanding how their actions affect the company's performance.

Stock Ownership

The holding of shares in a company, giving the shareholder a claim on part of the company’s assets and profits.