By Israel M. Kirzner
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Extra resources for Discovery and the Capitalist Process
Financial problems... ¨ ¨ ¨ ¨ ¨ ¨ ¨ profits and losses... ¨ ¨ ¨ ¨ ¨ ¨ ¨ specific techniques... ¨ ¨ ¨ ¨ ¨ ¨ ¨ I personally will show or explain in detail: How I do what ¨ I do... ¨ ¨ ¨ ¨ ¨ ¨ How my equipment works... ¨ ¨ ¨ ¨ ¨ ¨ ¨ How I price a product or service... ¨ ¨ ¨ ¨ ¨ ¨ ¨ How I keep ¨ track of time... ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ ¨ How I keep track of costs... My financial statements are available to anyone who wishes to see them... ” Intellectual property consists of ideas, designs, trade secrets and practices, as well as patents, copyrights and trademarks that you own.
A bank can explain how its policies make its loans or checking accounts a better deal than other banks. If you find yourself reluctant to give out free information about the details of what you do, you should rethink what you’re charging your customers for. Are you afraid that if you give them information they’ll realize they don’t need you? If so, perhaps openness isn’t for you unless you are willing to change some fundamental aspects of how you work. However, if you come out from behind the professional jargon your colleagues hide behind and let your customers in on the maximum amount of useful information without paying you to interpret it for them, you will find that your work satisfaction will improve because you are now helping educated participants rather than ignorant skeptics.
A newsletter keeping everyone abreast of important company news comes with each paycheck. m. and ending precisely at 5, is the $100 Million Club, which anyone can attend (50–75 employees come regularly). It’s an informal talk by an outside guest about business, management, the industry or related subjects. Physical Openness One of the most interesting business developments in the United States has been an increased physical openness in the workplace, which has been enthusiastically supported by customers.
Discovery and the Capitalist Process by Israel M. Kirzner