Good profit : how creating value for others built one of the world's most successful companies / Charles G. Koch.
Material type:
TextPublisher: New York : Crown Business, [2015]Edition: First editionDescription: viii, 276 pages : illustrations ; 25 cmContent type: - text
- unmediated
- volume
- 9781101904138 (hardback)
- 1101904135 (hardback)
| Item type | Home library | Collection | Call number | Materials specified | Status | Date due | Barcode | Item holds | |
|---|---|---|---|---|---|---|---|---|---|
Adult Book
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Main Library | NonFiction | 658.408 K76 | Available | 33111008091023 |
Enhanced descriptions from Syndetics:
NEW YORK TIMES BESTSELLER * Learn how to apply the principles of Charles Koch's 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 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® (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.
"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 & trade; 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"-- Provided by publisher.
"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"-- Provided by publisher.
Includes bibliographical references and index.