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About Charles G. Koch
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.
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“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 surprising take on how you can help tackle the really big problems in society–from one of America’s most successful entrepreneurs.
People are looking for a better way. Towering barriers are holding millions of people back, and the institutions that should help everyone rise are not doing the job. Crumbling communities. One-size fits all education. Businesses that rig the economy. Public policy that stifles opportunity and emboldens the extremes. As a result, this country is quickly heading toward a two-tiered society.
Today’s challenges call for nothing short of a paradigm shift – away from a top-down approach that sees people as problems to be managed, toward bottom-up solutions that empower everyone to realize their potential and foster a more inclusive society.
Such a shift starts by asking: What would it mean to truly believe in people?
Businessman and philanthropist Charles Koch has devoted his life to answering that question. Learn what he’s discovered during his 60-year career to help you apply the principles of empowerment in your life, in your business, and in society.
By learning from the social movements and applying the principles that have enabled social progress throughout history, Koch has achieved more than he dreamed possible – building one of the world’s most successful companies and founding Stand Together, one of America’s most innovative philanthropic communities. Stand Together CEO Brian Hooks and Koch show how the only way to solve the really big problems – from poverty and addiction to harmful business practices and destructive public policy – is for each and every one of us to find and take action in our unique role as part of the solution.
Full of compelling examples of what works – including several first-person accounts from individuals whose lives have been transformed – Koch and Hooks’ refreshing approach promotes partnership instead of partisanship and speaks to people from different perspectives and all walks of life. They show that no injustice is too tough to overcome if you share a deep belief in people, are willing to unite with anyone to do right, and work to empower others from the bottom up.