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

by Charles G. Koch Narrated by Paul Michael, Charles G. Koch

Overview

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
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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.*
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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.*
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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:*
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¿ 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*
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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.

Editorial Reviews

Publishers Weekly

10/05/2015
Koch (The Science of Success), chairman and CEO of Koch Industries, Inc., issues a rambling rah-rah for his company's operating philosophy. Koch took over from his father, Fred, at 32, and since has guided the company to great heights, in the process making himself the fourth wealthiest man in America. He attributes this success to Market-Based Management, a "unique business management framework," which has allowed Koch Industries to outpace competitors for decades. Koch discusses his relationship with his father and three brothers—particularly David, his partner in Koch Industries—and addresses areas in which he think the company succeeds despite what he views as an unacceptable level of government interference in business. Peppered with buzzwords and high-minded statements about the importance of hard work, intuition, and innovation, this effort comes across as a book-length advertisement for Koch Industries' products, and for himself as a businessman. A few cursory case studies round out the offering, but all but the most devout fans of the Koch brand are likely to find this too self-congratulatory and slim. Agent: Leah Spiro, Riverside Creative Management. (Oct.)

From the Publisher

"Charles Koch is right, there is a difference between Good Profit and bad profit. And 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
 

Charles Koch’s Good Profit is a must read for any businessperson or serious student of business.  As a transformative leader of Koch Industries, Koch the author delivers not just business wisdom but the economic punch of decision-making at the margin and Market-Based Management.  The book, like Koch’s management tools, bridges theory and practice masterfully.  But the title’s engine says it best: ‘Good profit’ arises from delivering value to customers.  And Koch Industries’ spectacular success over the past half century shows that good profit creates great value.
 - Glenn Hubbard, Dean and Russell L. Carson Professor of Finance and Economics, Columbia Business School

“The ultimate “how to” book on running a successful business.  Charles Koch’s approach is extraordinarily thoughtful and comprehensive, reflecting his more thasn 50 years of experience in growing Koch Industries to the second largest private corporation in America.  His emphasis on the key role that values play in his leadership and management model is especially important in today’s business environment.  A must read for those who want to take their enterprise to the next level.”
— Richard B. Myers, General, USAF, Ret., 15th Chairman of the Joint Chiefs of Staff
 
“Charles Koch is a genuine patriot, and his lifelong mission is to make America as strong and free as she can be.  He believes the principles of economic opportunity that have guided America are worth protecting.  This book will teach us how."   -
-(Papa) John Schnatter, CEO Papa John’s Pizza
 
  
“Good Profit is an exploration into the mind and philosophy of one of America’s most extraordinary businessmen.  Charles Koch explains – through example, anecdote, and impressive analysis – how Market-Based Management has enabled Koch Industries to create real, sustainable value for consumers and businesses alike.  You’ll be pleased by his openness.  He’s as candid about his failures as he is his successes, and willing to expose both in the interest of the greater good. “
— Leslie Rudd, Entrepreneur, Winery Owner, former owner Dean & DeLuca

"Writing about Charles Koch has become a cottage industry but, until now, there's been little from the man himself.  Read his new book, Good Profit, and you can learn directly from him what he thinks and how he has built one of the biggest and most successful businesses in the world."    — Michael L. Lomax, Ph.D. President and CEO, United Negro College Fund (UNCF)

  
“Here is a clear example of the American dream and how our country benefits when successful entrepreneurs create new jobs (and more taxes for government services) while providing the golden egg for philanthropic efforts.  The real story behind this book is not just Charles Koch’s secret to success – it is the remarkable path he and his brother took in becoming two of America’s most generous philanthropists.  Their recipe for creating “good profits” has enabled them to grow their businesses, reward their employees and still have plenty left over to invest in the nation’s most important charitable groups and institutions supporting America’s freedom.  It is a worthwhile read!”
—Charles R. Schwab
 

Product Details

BN ID:	2940169062465
Publisher:	Penguin Random House
Publication date:	10/13/2015
Edition description:	Unabridged
Sales rank:	944,423

Read an Excerpt

Chapter 1
(Continues…)

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Excerpted from "Good Profit"
by .
Copyright © 2015 Charles G. Koch.
Excerpted by permission of The Crown Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

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