About this item
NEW YORK TIMES BESTSELLER * Learn how to apply the principles of Charles Kochs revolutionary Market-Based Management® 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 Kochs 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? Kochs name may not be on your homes plywood, vehicles grille, smartphones connectors, or babys ultra-absorbent diapers but it makes them all. And Kochs Market-Based Management® (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.
About the Author
Charles Koch is chairman and CEO of Koch Industries, one of the largest privately held American companies. An influential philanthropist for more than 50 years, he supports education, a community of organizations addressing persistent poverty, and public policy research focused on developing effective solutions to social problems. He has founded numerous non-profit organizations, including Stand Together. He holds two masters degrees in nuclear and chemical engineering from MIT and lives in Wichita, Kansas with his wife Liz.
