Good Profit
How Creating Value for Others Built One of the World's Most Successful Companies
By Charles G. Koch | Publisher: Crown
About the book
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.
Editions of Good Profit
- Hardcover
- ISBN 9781101904138
- EBook
- ISBN 9781101904145
- AudioStreaming
- ISBN 9780147520487
- AudioStreaming
- ISBN 9780147520494
- AudioDisc
- ISBN 9780147520470
Read an Excerpt
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.
Frequently Asked Questions
What is Good Profit about?
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.
What core themes, tropes, or subjects are explored in Good Profit?
Economics, Finance, Business and Management > Business and Management > Management and management techniques
Where can I read a sample of Good Profit?
You can read an official preview of the few pages here https://www.book2look.com/book/9781101904138
Who is/are the Author/s of the book Good Profit?
Charles G. Koch
Who is the Publisher of the book Good Profit?
Crown
What are the ISBN numbers for the physical and digital editions?
Good Profit is available as hardcover(ISBN 9781101904138) and ebook(ISBN 9781101904145) and audiostreaming(ISBN 9780147520487) and audiostreaming(ISBN 9780147520494) and audiodisc(ISBN 9780147520470)
Where can I buy Good Profit online or support local independent bookshops?
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Where can I buy Good Profit?