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Good Profit : How Creating Value for Others Built One of the World's Most Successful Companies
by Charles G. Koch


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.
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More About Good Profit by Charles G. Koch
 
 
 
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 all of them. And Koch s Market-Based Management(r) system is what drives innovations like these - and many more.
Based on five decades of inter-disciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, the core objective of MBM(r) is as simple as it is effective: to generate good profit. Good profit results from products and services that customers vote for freely with their dollars; products that help 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 the earnings that follow when "long term value is created for everyone -- customers, employees, shareholders, and society.
"
Here, drawing on revealing, honest, previously untold stories from his nearly six decades in business, Koch walks the reader step-by-step through the five dimensions of MBM to show how any reader- can 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 a business can thrive in spite of increasingly rapid disruption and ever changing consumer values.
. Acquire and retain a workforce possessing both virtue and talent (the first of which
is more important for long term success).
. Create an environment of knowledge sharing similar to a community of scientists -
- rejecting bureaucracy and hierarchy in favor of a culture that prizes (and even demands) respectful challenges from everyone in the company, at every level.
. Award employees with ownership and decision rights based on their comparative advantages and proven contributions, not job title.
. Motivate all employees to maximize their contributions by effectively structuring incentives so employees compensation is limited only by the value they create not budgets or company-wide policy.
A must-read for any leader, entrepreneur, or student, as well as those who want a more civil, fair and prosperous society, Good Profit is destined to rank as one of the greatest management books of all time.
"

 
Details
  • ISBN-13: 9781101904138
  • ISBN-10: 1101904135
  • Publisher: Crown Business
  • Publish Date: October 2015
  • Page Count: 288
  • Dimensions: 9.56 x 6.5 x 1 inches
  • Shipping Weight: 1.05 pounds


Related Categories

Books > Business & Economics > Management - General
Books > Business & Economics > Organizational Development
Books > Business & Economics > Business Ethics

 
Publishers Weekly Reviews

Publishers Weekly® Reviews

  • Reviewed in: Publishers Weekly, page .
  • Review Date: 2015-10-05
  • Reviewer: Staff

Koch (The Science of Success), chairman and CEO of Koch Industries, Inc., issues a rambling rah-rah for his company's operating philosophy. Koch took over from his father, Fred, at 32, and since has guided the company to great heights, in the process making himself the fourth wealthiest man in America. He attributes this success to Market-Based Management, a "unique business management framework," which has allowed Koch Industries to outpace competitors for decades. Koch discusses his relationship with his father and three brothersparticularly David, his partner in Koch Industriesand addresses areas in which he think the company succeeds despite what he views as an unacceptable level of government interference in business. Peppered with buzzwords and high-minded statements about the importance of hard work, intuition, and innovation, this effort comes across as a book-length advertisement for Koch Industries' products, and for himself as a businessman. A few cursory case studies round out the offering, but all but the most devout fans of the Koch brand are likely to find this too self-congratulatory and slim. Agent: Leah Spiro, Riverside Creative Management. (Oct.)

 
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