Good Profit

Good Profit

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

Book - 2015
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Random House, Inc.
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.

Baker & Taylor
"A Legendary CEO's Unique Management System In 1967, Charles Koch took the reins of his father's company and began the process of growing it from a $21 million company into a global corporation with revenues of about $115 billion, according to Forbes. So how did this MIT engineer manage to 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 andemployees of all kinds, in any field --how to apply the principles to generate Good Profit in their organizations, companies, and lives"--

Baker
& Taylor

The legendary CEO of Koch Industries reveals the unique five-dimensional management system that enabled his company to become a $115 billion global corporation. Includes four graphs. 125,000 first printing.
The CEO of Koch Industries reveals the unique five-dimensional management system that enabled his company to become a $115 billion global corporation.
"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"--

Publisher: New York : Crown Business, [2015]
Edition: First edition
ISBN: 9781101904138
1101904135
Branch Call Number: 658.408 K811g
Characteristics: viii, 276 pages ; 24 cm

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