NEW YORK TIMES BESTSELLER ā¢ Learn how to apply the principles of Charles Kochās revolutionary Market-Based ManagementĀ® system to generate good profit in your organization, company, and life
āThis book helps show you the way to good profitāwhether you work for an international supermarket chain, a medium-sized regional business, or your own start-up.āāJohn 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 Kochās belief that āthe only reason a business should exist (and the only way it can legitimately survive long term) is to create value in a responsible way.ā Hence, the principles in Good Profit are more important today than ever before.Ā
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What exactly does Koch Industries, Inc., do and why is it so remarkably profitable? Kochās name may not be on your homeās plywood, vehicleās grille, smartphoneās connectors, or babyās ultra-absorbent diapers but it makes them all. And Kochās Market-Based ManagementĀ® (MBM) system is what drives these innovations and many more.Ā
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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.Ā It results from a bottom-up culture where employees are empowered to act entrepreneurially to discover customersā 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.Ā Readers will learn how to:Ā
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ā¢ Craft a vision for how to thrive in spite of increasingly rapid disruption and ever-changing consumer valuesĀ
ā¢Ā Select and retain a workforce possessing both virtue and talentĀ
ā¢Ā Create an environment of knowledge sharing that prizes respectful challenges from everyone at every levelĀ
ā¢Ā Award employees with ownership and decision rights based on their comparative advantages and proven contributions, not job titleĀ
ā¢Ā Motivate all employees to maximize their contributions by structuring incentives so compensation is limited only by the value they createĀ
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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.