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KLOUD City® Clear Acrylic Cotton Swab/Cotton Bud /Q-tips Organizer/Box/Holder
KLOUD City® Clear Acrylic Cotton Swab/Cotton Bud /Q-tips Organizer/Box/Holder
Offered by Nicholsonss
Price: $8.08
23 used & new from $8.08

1.0 out of 5 stars Horrible product that doesn't work., June 30, 2016
Verified Purchase(What's this?)
I don't write reviews often, but this product was just so terrible. It barely fits a standard size tip in it and it was a disaster trying to get this thing to work. Do not buy this.


The Motivation Hacker
The Motivation Hacker
Price: $2.99

5.0 out of 5 stars hack your motivation, March 31, 2015
Verified Purchase(What's this?)
Useful tactics for increasing motivation, by a programmer and knife thrower. Requires a couple of reads to fully integrate if you're a motivation hacker newbie.


Jillian Michaels: Yoga Meltdown
Jillian Michaels: Yoga Meltdown
DVD
Price: $5.99

5.0 out of 5 stars I love this workout, February 2, 2014
This is the perfect combination of yoga and cardio. I've seen results so quickly and I have yet to get bored of it!


The Science of Success: How Market-Based Management Built the World's Largest Private Company
The Science of Success: How Market-Based Management Built the World's Largest Private Company
by Charles G. Koch
Edition: Hardcover
68 used & new from $5.06

7 of 8 people found the following review helpful
5.0 out of 5 stars The Idea That Will Change The Way We Do Business, January 19, 2011
The idea is this: the same principles that make societies prosperous can also make companies prosperous.

In the Science of Success, Koch Industries CEO Charles G. Koch calls this idea Market Based Management (MBM), and he shows how he used it to grow his company into the largest privately owned company in the world, with over $100 billion in revenues in 2009.

Part-philosophy, part-economics, and part-management science, The Science of Success should be read by every executive of every company in the world. In it Koch discredits command-and-control corporate hierarchies, functional departments, and old-school compensation plans based on education and/or experience. Koch argues that in order to be successful, companies should be planned like free societies, where each individual is free to pursue his or her rational self-interest within certain mutually accepted rules of conduct.

This revolutionary idea is applied through 5 Dimensions, which Koch describes in the book:

1. Vision: Determining where and how the organization can create the greatest long-term value.
2. Virtue and Talents: Helping ensure that people with the right values, skills and capabilities are hired, retained and developed.
3. Knowledge Processes: Creating, acquiring, sharing and applying relevant knowledge, and measuring and tracking profitability.
4. Decision Rights: Ensuring the right people are in the right roles with the right authorities to make decisions and holding them accountable.
5. Incentives: Rewarding people according to the value they create for the organization.

For this blog post I will describe how MBM handles the concepts of Decision Rights and Incentives differently from traditional companies.

DECISION RIGHTS

Koch correctly points out that the biggest problems in society have occurred in those areas thought to be best controlled in common: the atmosphere, bodies of water, air, streets, the body politic and human virtue. This is known as "tragedy of the commons", because when there are no clearly defined property rights in a society, no one has an incentive to take care of the thing they use.

In an attempt to replicate the positive effect of property rights in a company setting, MBM uses the idea of decision rights. Decision rights should reflect an employee's demonstrated competitive advantage, meaning he or she can perform an activity more effectively at a lower opportunity cost than others. The key point is that this authority is based on the degree to which an employee has demonstrated a competitive advantage in that area, NOT arbitrary factors like experience, education, seniority or being chummy with the boss. For example, an employee who has demonstrated a superior ability in accounting would have significant authority to approve financial statements. However this would not automatically grant him a similar authority to hire and fire junior accountants. Contrast this with the situation in many corporations, where technical excellence can get you promoted to a management position in which you are responsible for leading a team of people, despite demonstrating absolutely no management ability.

INCENTIVES

Abraham Maslow stated that the central problem of management is, "how to set up social conditions in any organization so that the goals of the individual merge with the goals of the organization." That means that every employee in MBM is considered an entrepreneur, and is paid a portion of the value they create for the company. That means no cost-of-living adjustments, no automatic promotions or bonuses due to seniority, and no golden parachute severance packages if you run the company into the ground (I'm looking at you Wall Street).

Compensation in an MBM company is based on the long-term, real value you add to the company. If you take unnecessary risks that lose money for the company, your compensation will be decreased accordingly. On the other hand, if you are the leader of a project that is financially successful in the long-term, your compensation will be increased accordingly. Compensation isn't set in stone, so employees cannot rest on their laurels but must continually strive to add value.

Also, MBM strives to tailor incentives for each employee. What any individual employee values is highly subjective and includes both financial and non-financial components. Just as in a free society, some citizens may value a high salary, some may value time freedom, and some may value a remote working agreement. The variations are endless. In MBM, compensation packages, where feasible, are tailored to the individual and may be different for different employees. Some employees may be awarded with company stock, increased vacation time, or the ability to bring their kids to work. It all depends on the unique situation surrounding the employee.

Those are only two of the vast number of differences between a traditional company and an MBM company. To get the rest, you'll have to read the book.
Comment Comments (2) | Permalink | Most recent comment: Feb 7, 2011 4:41 AM PST


Common Sense Economics: What Everyone Should Know About Wealth and Prosperity
Common Sense Economics: What Everyone Should Know About Wealth and Prosperity
by James D. Gwartney
Edition: Hardcover
Price: $14.93
89 used & new from $6.45

9 of 10 people found the following review helpful
5.0 out of 5 stars Every American Should Read This Book, January 8, 2011
Common Sense Economics should be read by every person in the world. It is that important.

Four economics professors (Gwartney, Stroup, Lee, Ferrarini) set out to make economics easy to understand for the layperson, and with Common Sense Economics they have succeeded. This is the book that I will give to my Mom, who wants to understand how markets work but has no interest in reading through the dense academic treatises of Mises. This is the book that I will give to my friend who wants to gain a deeper understanding of the objective facts of economics, but doesn't want the "free market biases" associated with Hayek. This is the book that I would recommend to other college students that want specific examples of how they can use economic analysis to evaluate current public policy decisions without traveling 70 years into the past with Hazlitt to commiserate on FDR's New Deal policies.

Common Sense Economics is split into four parts, titled: (1) Twelve Key Elements of Economics, (2) Seven Major Sources of Economic Progress (3) Economic Progress and the Role of Government, and (4) Twelve Key Elements of Practical Personal Finance. In this review I will cover the first three.

In Twelve Key Elements of Economics, the authors present the basic, fundamental rules of economics. They introduce the key concepts of incentives, marginal analysis, trade, division of labor, specialization, prices, profits and economic institutions. They also use this section to debunk popular economic fallacies; most notably, the myth of the free lunch, and the belief that more jobs, not increased productivity, raise living standards.

In Seven Major Sources of Economic Progress, the authors answer the question, "Why are some countries rich and others poor? They describe how the legal system, competitive markets, limited government regulation, an efficient capital market, monetary stability, low tax rates and free trade are requirements for prosperity. By the end of this section even the Marxist will realize why North Korea is poor and Hong Kong rich.

Economic Progress and the Role of Government is my favorite section because the authors specifically describe the features of government that lead to economic prosperity and the actions it can take to hinder it. Most notably, I learned that certain "public goods", are not easily provided by the market, and that government must do the job. To learn which goods are public goods, you'll have to read the book, but I'll give you a hint: they're not health care and education.

My favorite part of the book comes at the end of this section, when the authors propose eight constitutional amendments that would compose an Economic Bill of Rights. They argue that the Constitutional safeguards on government powers have been imperfect and ineffective, and that only through an amendment process are we to escape the doomed march towards default or hyperinflation. Instead of simply pointing out problems, these suggested amendments give me concrete solutions that I can use as talking points when discussing economic issues with my peers.

I do believe that everyone in the world should read this book, because even if you don't live in a country with free markets, this book will convince you of their merit. However this book is especially important for Americans to read. Consider it a course in economic literacy. Most of our population, and alas, many of our political leaders, are economically illiterate. If every voter had a solid grasp on the ideas presented here, there would be a vast shift in the political discussion. No longer would taxpayers be fooled into supporting the American auto industry or bailing out its banks. No longer would we tolerate pork barrel legislation and restraints on free trade. No longer would we trust the government to control our health care and education industries. No longer would we tolerate the welfare state. No longer would we be ignorant to the dangers posed by soaring budget deficits, a bloated national debt, and runaway inflation.

Instead, Americans will learn again the lesson that many of us have forgotten; that the founding principle of this country is not unrestrained democracy in which the majority votes away the rights of the minority, but a limited government charged with protecting the rights of the smallest minority there is: the individual.


Personal Development for Smart People: The Conscious Pursuit of Personal Growth
Personal Development for Smart People: The Conscious Pursuit of Personal Growth
by Steve Pavlina
Edition: Hardcover
Price: $22.45
62 used & new from $0.73

1 of 1 people found the following review helpful
5.0 out of 5 stars First book I have read that outlines Principles of personal development, April 24, 2009
This is a very informative book. The first section begins by outlining the 3 main principles of personal development, upon which 4 supporting principles are based. These principles have been vitally important to my own personal growth, and helps clear the clutter I had previously associated with the self-help industry. Now I can use these principles as a kind of standard to benchmark other self-help material to see if it is valid and applicable to my life. These principles have helped shape my belief system to ensure my future success. The second section is filled with TONS of practical ways to apply these principles to your daily life, and should be used more as a reference than a read through.


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