Open$-$book management can be especially effective $\_\_\_\_\_\_.$

during profitable times because then employees know it is acceptable to make riskier financial decisions

if your company has a large number of fence$-$sitter employees, because they will be motivated to keep the company profitable in order to keep their jobs

when companies are facing tough times because employees can creatively find ways to save the company money

in companies that have few competitors, because if their financial information leaks then there isn$$t really anyone to take advantage of it