<b><b>&nbsp;</b><br><b>THE REVOLUTIONARY MANAGEMENT SYSTEM BEHIND ONE OF THE MOST SUCCESSFUL COMPANIES OF OUR TIME<br></b><br>In 1961, Charles Koch joined his father’s Wichita-based company, then valued at $21 million. Six years later, following his father’s death, he was named chairman of the board and CEO of Koch Industries, Inc. Today, Koch Industries’ estimated worth is $100 billion -- making it one of the largest private companies in the world. Koch exceeds the S&amp;P 500’s five-decade growth by 27-fold, and plans to double its value on average every six years.<br><br>What exactly does this company do and why is it so remarkably profitable? While you won't find the Koch name on your stain-resistant carpet, stretch denim jeans, the connectors in your smart phone, or your baby’s ultra-absorbent diapers, Charles Koch’s Market-Based Management® system drove these innovations and many more. &nbsp;<br><br>Based on five decades of inter-disciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, the core objective of MBM® is as simple as it is effective:&nbsp; to generate<i>good</i> profit. Good profit results from products and services that customers vote for freely with their dollars; products that help improve people’s lives.&nbsp; It results from a culture where employees are empowered to act entrepreneurially to discover customers’ preferences and the best ways to satisfy them. Good profit is the earnings that follow when<i>long term value is created for everyone -- customers, employees, shareholders, and society.</i><br><br>Here, drawing on revealing, honest, previously untold stories from his nearly six decades in business, Koch walks the reader step-by-step through the five dimensions of MBM to show how any reader- can apply its framework to generate more good profit in any business, industry, or organization of any size. &nbsp;Readers will learn how to:&nbsp; <br><br>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Craft a <b>vision</b> for how a business can thrive in spite of increasingly rapid disruption and ever changing consumer values.<br><br>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquire and retain a workforce possessing both <b>virtue and talent</b> (the first of which<br>is more important for long term success). &nbsp;&nbsp;<br><br>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Create an environment of <b>knowledge </b>sharing similar to a community of scientists -<br>- rejecting bureaucracy and hierarchy in favor of a culture that prizes (and even demands) respectful challenges from everyone in the company, at every level.<br><br>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Award employees with ownership and <b>decision rights</b> based on their comparative advantages and proven contributions, not job title.<br><br>·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Motivate all employees to maximize their contributions by effectively<b></b>structuring <b>incentives</b> so employees’ compensation is limited only by the value they create – not budgets or company-wide policy.<br><b>&nbsp;</b><br><b>A must-read</b> for any leader, entrepreneur, or student, as well as those who want a more civil, fair and prosperous society, Good Profit is destined to rank as one of the greatest management books of all time.&nbsp;<br></b>