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Concept Of Open Business

The basic concept of open business is in general the concept of doing business in a transparent way. It is seen that often, small minorities channel the business benefits away at the cost of other stakeholders and `the market. Open Business structures seeks to rectify this by abiding by a model of transparency. Activating personal productivity by simply redirecting the returns to those that produced them, the individuals themselves play a central role.

Open business concept encourages a business whose business model is run on open standards, open source and open content. This approach guarantees that the business is run for the benefit of all, and not just for one group or stakeholders. Moreover it makes sure that the bankruptcy of a specific open business will not result in the loss of its knowledge.

Using modern data-processing tools and open source software, businesses can now display every recorded detail of what they do. Analyses and summaries can be done internally or by third parties. Online forums allow anyone to post criticisms, suggestions, or praise. Online meetings can be held to avoid costly mistakes.

All employees, investors, customers are allowed to access data and perhaps even in the community at large with no other connection to the business. This concept of open business would surely reduce the chances of unplanned errors or mistakes. However, there is the minor issue of where to draw the line between private data and shareable data.

An open business concept allows the benefit of "many eyes" watching the corporation's activities, planning, and health. Combining the idea of transparency with the more traditional business goal of making money, it achieves the twin goals of avoiding bad decisions and maximum benefit. Obviously, one cant be forced to adopt such a model. But by encouraging it today we can help it take root and grow tomorrow to be a common practice.

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