THE UNIQUE MANAGEMENT SYSTEM FROM A LEGENDARY CEO

In 1967, Charles Koch took the reins of his father’s company and began the process of growing it from a $21 million start-up into a  global corporation with revenues of about $115 billion, according to Forbes. 

So how did this MIT engineer manage grow Koch Industries into one of the largest private companies in the world today with  growth exceeding that of the S&P 500 by almost 30-fold over the last five decades? Through his unique five-dimensional management process and system called Market-Based Management. Based on five decades of cross-disciplinary studies, experimental discovery, and practical implementation across Koch companies and their 100,000 employees worldwide, the core objective of Market-Based Management’s framework is as simple as it is effective:  to generate good profit. 

What is good profit? Good profit results when a company creates value for customers in a way that helps them improve their lives. Good profit is the result of innovations that customers freely vote for with their own dollars; it’s the result of business decisions that create  long term value for everyone--customers, employees, shareholders, and society.

While you won't find the Koch Industries name on your home’s stain-resistant carpet, your baby’s more comfortable but absorbent diapers  your stretch denim jeans, or your television with a better clarity screen, MBM™ drove these innovations and many more. 

 Here, drawing on revealing, honest stories from his five decades in business – the company’s many successes as well as its stumbles – Koch walks the reader step-by-step through the five dimensions of Market-Based Management to show stockholders, entrepreneurs, leaders, students --  and innovators, supervisors and employees of all kinds, in any field --how to apply the principles to generate Good Profit in their organizations, companies, and lives.


From the Hardcover edition.
THE UNIQUE MANAGEMENT SYSTEM FROM A LEGENDARY CEO

In 1967, Charles Koch took the reins of his father’s company and began the process of growing it from a $21 million start-up into a  global corporation with revenues of about $115 billion, according to Forbes. 

So how did this MIT engineer manage grow Koch Industries into one of the largest private companies in the world today with  growth exceeding that of the S&P 500 by almost 30-fold over the last five decades? Through his unique five-dimensional management process and system called Market-Based Management. Based on five decades of cross-disciplinary studies, experimental discovery, and practical implementation across Koch companies and their 100,000 employees worldwide, the core objective of Market-Based Management’s framework is as simple as it is effective:  to generate good profit. 

What is good profit? Good profit results when a company creates value for customers in a way that helps them improve their lives. Good profit is the result of innovations that customers freely vote for with their own dollars; it’s the result of business decisions that create  long term value for everyone--customers, employees, shareholders, and society.

While you won't find the Koch Industries name on your home’s stain-resistant carpet, your baby’s more comfortable but absorbent diapers  your stretch denim jeans, or your television with a better clarity screen, MBM™ drove these innovations and many more. 

 Here, drawing on revealing, honest stories from his five decades in business – the company’s many successes as well as its stumbles – Koch walks the reader step-by-step through the five dimensions of Market-Based Management to show stockholders, entrepreneurs, leaders, students --  and innovators, supervisors and employees of all kinds, in any field --how to apply the principles to generate Good Profit in their organizations, companies, and lives.


From the Hardcover edition.
Charles Koch may well be the most successful businessman people have never heard of. Under his leadership, Koch Industries has become a dynamic and diverse enterprise that Forbes has called "the world's largest private company". This groundbreaking audiobook includes the same material used by leaders and employees of Koch companies to apply Marker-Based Management (MBM) to get results. Koch outlines this unique management methodology, developed and implemented by Koch Industries, which has experienced 2,000-fold growth since 1967. Today, Koch Industries has 80,000 employees in 60 countries; it had $90 billion in revenues in 2006. MBM is a scientific approach to management that integrates theory and practice while providing a framework for dealing with the ongoing challenges of growth and change. There really is a science behind success, and it can be applied to any organization. MBM is rooted in the Science of Human Action, and is defined by five dimensions: Vision: Determining where and how the organization can create the greatest long-term value Virtue and Talents: Helping ensure that people with the right values, skills, and capabilities are hired, retained, and developed Knowledge Processes: Creating, acquiring, sharing, and applying relevant knowledge, and measuring and tracking profitability Decision Rights: Ensuring the right people are in the right roles with the right authority to make decisions and are held accountable Incentives: Rewarding people according to the value they create for the organization When these dimensions are applied in an integrated, mutually reinforcing manner, they create continuous transformation and positive growth. Any organization - corporation, small business, nonprofit, or government agency - can apply these proven principles.
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