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Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies
Good Profit How Creating Value for Others Built One of the World's Most Successful Companies Author:Charles G. Koch 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 $110 billion global corporation ? one of the largest private companies in the world today, with value growth exceeding that of the S&P 500 by 30-fold. — So how did t... more »his MIT engineer manage to increase Koch Industries? value by 5,000 times 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.« less