The one topic in business that I could talk for hours about is financial transparency for any organization of any size. And that’s because there are so many layers and potential outcomes when such transparency is valued by the owners or directors in the organization. I’ve been teaching the principles of financial transparency for years, and one CEO has become my favorite for the embodiment of everything this concept represents. But what is it?
Episode Synopsis and Critical Questions Answered
Financial transparency requires heavy doses of truth and trust in all relationships throughout any organization. Those are the boulders or the foundation that financial transparency rests upon.
I could have visited with an author on financial transparency. Instead, I picked a CEO who embraces all of the core concepts behind financial transparency. You’ll also learn our definition of financial transparency is broad in that we include non-financial measures which can lead to better outcomes for the organization and those inside it.
His name is Dr. Arlan Alburo. He’s the CEO and co-founder of Orthopedic & Balance Therapy Specialists (OBTS) based in rural Indiana near Chicago. Not only is he a talented business leader within the OBTS chain of four physical therapy clinics, but he’s also a sought-after leadership coach at Next Level PT. Everyone in Arlan’s inner circle will tell you he’s a lifelong learner.
Below are the questions that Arlan tackled during this quick-paced and conversational discussion:
- Why doesn’t Mark like the term OBM?
- What is the definition of financial transparency?
- Why financial transparency?
- Why do many running organizations initially fear financial transparency?
- What is the teaching process for financial transparency?
- What does it mean to lead, guide, mentor, and coach by numbers?
- What is the starting point for financial transparency?
- What’s the difference between a health measure and an improvement measure?
- How are reward systems tied to financial transparency?
- What are your thoughts on the dark side of numbers as addressed by Dean Spitzer in his excellent book, Transforming Performance Measurement?
Want to learn more? My recommendation is to reach out to Arlan directly on LinkedIn, and I’m certain he’ll accept your connection request and might even ask, “Want to hop on Zoom for a quick call?”
Incidentally, Arlan mentioned two of his favorite books as follows:
The Producer’s Picks
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