Good Profit

  • by Charles G. Koch
  • Narrated by Paul Michael, Charles G. Koch
  • 9 hrs and 14 mins
  • Unabridged Audiobook

Publisher's Summary

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 to 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 listener 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.

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What the Critics Say

"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 and Co-CEO, 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, Papa John's Pizza)
"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)

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Customer Reviews

Most Helpful

Business Owners - The only book you need to read!

I believe that if you truly understand Market Based Management philosophy introduced in this book, then you have the best chance of succeeding in your business endeavors. I have read a lot of business books on how to succeed in business. This book gave me a better framework and more ideas to implement than any other I have read.

I believe this is a great blueprint to implement in my business and look forward to using these ideas.

I recommend this book to everyone.
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- Jay

I admire many of Koch's businesses. Great Book.

Would you listen to Good Profit again? Why?

Yes. Koch gives simple solutions many people seem to miss in business. He has wrapped this into a program that has been taught throughout his company. If he offered a course to non employees, I would go. I can apply these daily. For example, who owns the risk in an agreement (contract). Are they really capable of owning that risk. Other topics include compensation and evaluating employees, consultants, products that succeed, products that fail, etc.


Who was your favorite character and why?

I think I would say his family was my favorite character. His dad did not simply give the business. He made him prepare and earn it. In that respect, the book is also a good practice in reflecting on my own parenting.


Have you listened to any of Paul Michael and Charles G. Koch ’s other performances before? How does this one compare?

No.


Was this a book you wanted to listen to all in one sitting?

Yes.


Any additional comments?

If you don't like his politics, don't let that stop you from hearing his business wisdom. I would say how he seems to treat employees is a key indicator you can respectfully disagree politically while admiring and learning from him in other aspects.

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- Hunter

Book Details

  • Release Date: 10-13-2015
  • Publisher: Random House Audio