NEW YORK TIMES BESTSELLER - Learn how to apply the principles of
Charles Koch's revolutionary Market-Based Management(R) system to
generate good profit in your organization, company, and life
"This book helps show you the way to good profit--whether you work for
an international supermarket chain, a medium-sized regional business, or
your own start-up."--John Mackey, co-founder and co-CEO, Whole Foods
Market
The technological innovations, extreme politics, civil unrest, cyber
attacks, demographic shifts, and global pandemic that have affected all
businesses since this book was published have only confirmed Charles
Koch's belief that "the only reason a business should exist (and the
only way it can legitimately survive long term) is to create value in a
responsible way." Hence, the principles in Good Profit are more
important today than ever before.
What exactly does Koch Industries, Inc., do and why is it so remarkably
profitable? Koch's name may not be on your home's plywood, vehicle's
grille, smartphone's connectors, or baby's ultra-absorbent diapers but
it makes them all. And Koch's Market-Based Management(R) (MBM) system is
what drives these innovations and many more.
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. It results from a bottom-up culture where employees are
empowered to act entrepreneurially to discover customers' preferences
and the best ways to improve their lives. Drawing on six decades of
interdisciplinary studies, experimental discovery, and practical
implementation across Koch businesses worldwide, Charles Koch walks the
reader through the five dimensions of MBM to show how to apply its
framework 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 and ever-changing consumer values
- 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
comparative advantages and 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
one of the greatest management books of all time.
