Overview

THE REVOLUTIONARY MANAGEMENT SYSTEM BEHIND ONE OF THE MOST SUCCESSFUL COMPANIES OF OUR TIME

In 1961, Charles Koch joined his father s Wichita-based company, then valued at $21 million. Six years later, he was named chairman of the board and CEO of Koch Industries, Inc. Today, Koch Industries estimated worth is $100 billion -- making it one of the largest private companies in the world. Koch exceeds the S&P 500 s five-decade growth by 27-fold and plans to double its value on average every six years.

What exactly does this company do and why is it so remarkably profitable? Koch s name may not be on your stain-resistant carpet, stretch denim jeans, the connectors in your smart phone, or your baby s ultra-absorbent diapers but it makes them all. And Koch s Market-Based Management® system is what drives these innovations and many more.

Based on five decades of interdisciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, the core objective of MBM is to generate "good" profit. Good profit results from products and services that customers vote for freely with their dollars, products that improve people s lives. It results from a culture where employees are empowered to act entrepreneurially to discover customers preferences and the best ways to satisfy them. Good profit is what follows when "long-term value is created for customers, employees, shareholders, and society. "

Here, drawing on revealing, honest, and previously untold stories from his nearly six decades in business, Koch walks the reader through the five dimensions of MBM to show how to apply its framework to generate more good profit in any business, industry, or organization of any size.

Readers will learn how to:

  • Craft a vision for how to thrive in spite of increasingly rapid disruption 
  • Select and retain a workforce possessing both virtue and talent 
  • Create an environment of knowledge sharing that prizes respectful challenges from everyone at every level 
  • Award employees with ownership and decision rights based on their proven contributions, not job title
  • Motivate all employees to maximize their contributions by structuring incentives so compensation is limited only by the value they create

A must-read for any leader, entrepreneur, or student, as well as anyone who wants a more civil, fair, and prosperous society, "Good Profit" is destined to rank as one of the greatest management books of all time."

About the Author

CHARLES G. KOCH is Chairman of the Board and CEO of Koch Industries, Inc., a position he has held since 1967. Since then, the company has been transformed into a dynamic and diverse group of companies in refining and chemicals, fibers and polymers, commodity and financial trading, and forest and consumer products. Familiar Koch company brands include "STAINMASTER" carpet, "LYCRA" spandex, "Quilted Northern" tissue, and "Dixie" cups. Koch has continuously supported academic and public policy research (including numerous Nobel Prize winners) for more than 40 years, and has helped build a number of market-based organizations. Koch received a bachelor's degree in general engineering and two master's degrees--in mechanical and chemical engineering--from the Massachusetts Institute of Technology.

Product Details

Author:  Charles Koch
ISBN:  1101904135
Publisher:  Crown Business
Publish Date:  October 13, 2015
Pages:  288 pages
Dimensions:  1.0" H x 9.56" L x 6.5" W (1.05 lbs) 

 

Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies


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