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Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies Audiobook
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THE UNIQUE MANAGEMENT SYSTEM FROM A LEGENDARY CEO
In 1967, Charles Koch took the reins of his father’s company and began the process of growing it from a $21 million start-up into a global corporation with revenues of about $115 billion, according to Forbes.
So how did this MIT engineer manage grow Koch Industries into one of the largest private companies in the world today with growth exceeding that of the S&P 500 by almost 30-fold over the last five decades? Through his unique five-dimensional management process and system called Market-Based Management. Based on five decades of cross-disciplinary studies, experimental discovery, and practical implementation across Koch companies and their 100,000 employees worldwide, the core objective of Market-Based Management’s framework is as simple as it is effective: to generate good profit.
What is good profit? Good profit results when a company creates value for customers in a way that helps them improve their lives. Good profit is the result of innovations that customers freely vote for with their own dollars; it’s the result of business decisions that create long term value for everyone--customers, employees, shareholders, and society.
While you won't find the Koch Industries name on your home’s stain-resistant carpet, your baby’s more comfortable but absorbent diapers your stretch denim jeans, or your television with a better clarity screen, MBM™ drove these innovations and many more.
Here, drawing on revealing, honest stories from his five decades in business – the company’s many successes as well as its stumbles – Koch walks the reader step-by-step through the five dimensions of Market-Based Management to show stockholders, entrepreneurs, leaders, students -- and innovators, supervisors and employees of all kinds, in any field --how to apply the principles to generate Good Profit in their organizations, companies, and lives.
From the Hardcover edition.
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"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"
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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 -
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 -
“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, cofounder of Whole Foods Market -
“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 of Papa John’s Pizza
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About Charles G. Koch
Charles G. Koch is chairman of the board and CEO of Koch Industries, Inc. As a reflection of Mr. Koch’s business leadership and community involvement, he has received numerous honors and awards. He holds a bachelor’s degree in general engineering as well as two master’s degrees in nuclear and chemical engineering from MIT. He has been married to his wife, Liz, for forty-three years. They have two children and two grandchildren.
About Charles G. Koch
Paul Michael, winner of several Earphones Awards, has also won the prestigious Audie Award for best narration. He has acted on stage, radio, television, and in feature films in Canada, Great Britain, and the United States. He has had leading roles in series and made-for-television movies and has guest starred in such series as VIP and Alias. He has been nominated for a Canadian Emmy and has recorded over 150 audiobooks, including the international bestseller The Da Vinci Code.