Avanti | Now Playing
Changing the Game by Open Book Management, with Jack Stack
John P. (Jack) Stack is President and CEO of SRC Holdings Corporation. SRC remanufactures gasoline and diesel engines for the automotive and off-highway markets, distributes engine kits, manufactures power units and remanufactures electrical components, and conducts seminars and training programs specializing in all aspects of teaching people how to implement open-book management. SRC has sales of over $600,000,000/year and currently employs 1,600+ people.
Stack, a graduate of Elmhurst College, came to SRC in 1979 as the Plant Manager of International Harvester after eleven years of direct supply chain management experience. In 1983, Stack and the SRC employees bought the company from IH and have turned it into what INC. magazine has proclaimed “one of America’s most competitive small companies”. He is the author of the book, The Great Game of Business published in 1992, which was selected one of the thirty best business books of the year by Soundview Executive Book Summaries. This open-book management program has been recognized by the CBS program “Eye on America”, PBS “McNeil-Lehrer Report” and has received both the National Business Ethics Award and the Business Enterprise Trust Award. SRC was also selected as one of the Top 100 Companies to Work for in America. Jack’s second book, A Stake in the Outcome, was published in March 2002. He recently published a third business book, Change The Game: Saving the American Dream by Closing the Gap in January of this year.
Jack has been named The Springfield Area Chamber of Commerce’s “Springfieldian of the Year”, an honor bestowed annually on a local community member who has worked to improve the quality of life in Springfield. He has also received the Springfield Business Journal’s Economic Impact “Lifetime Achievement” award for outstanding professional accomplishments and contributions in the business community. INC. Magazine has called him the “smartest strategist in America” and named him one of twenty-five entrepreneurs selected to represent the 25 years INC. has been published. Jack was also listed among the “top 10 minds in small business” in Fortune Small Business Magazine. He was named the Remanufacturer of the Year by ReMaTecNews at their annual conference. Earlier this year, Jack accepted the 29th annual Txemi Cantera International Prize in Bilbao, Spain on behalf of SRC Holdings Corp., an honor that goes each year to an organization that supports workers and reinforces the values of cooperation, solidarity, participation, and equitable sharing of wealth.
Jack serves as a Director on the Boards of several SRC-affiliated companies including Newstream Enterprises, CNH Reman and SRC of Lexington. He is a Trustee for SRC’s Employee Stock Ownership Program, VEBA Trust and 401K Program. He also serves on the Board of Directors of Paul Mueller Company, and is an Advisory Board Member of the Greater Ozarks Centers for Advanced Professional Studies (GO-CAPS), which includes Springfield and 20 of the surrounding school districts. GO-CAPS, a program for high school juniors and seniors, gives students the chance to explore their interests in engineering and manufacturing, entrepreneurship, medicine and health care and IT and software solutions. Jack is presently serving as a director of Care to Learn, a local not-for-profit agency that provides relief to children with emergent hunger, health and hygiene needs. He serves as the Chairman of the Advisory Board of Harmony House I-Care, also a not-for-profit organization that provides shelter, advocacy and education to survivors of domestic violence. Jack is the founder of the Boys and Girls Clubs Invest to Invest Club which was created in order to generate a new source of funds for their youth programs and to serve as a tool to teach business basics to Club members and provide a friendly and competitive venue for the Invest to Invest group members.
Jack has been married to Betsy for 47 years and is the father of five children and grandfather of 10.