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21 June 2018Just started skimming this some great references to Mises and Hayek and could not put it down till I finished the meaty Introduction Fascinating Really looking forward to continuing with this.17 Sept 2019Just finished this yesterday and am sorry I had not gotten to it or the author s first book The Science of Success earlier, since it was so good.For people who want to know how Charles and David Koch made their money.For people who want to know how Charles views the world.Fo 21 June 2018Just started skimming this some great references to Mises and Hayek and could not put it down till I finished the meaty Introduction Fascinating Really looking forward to continuing with this.17 Sept 2019Just finished this yesterday and am sorry I had not gotten to it or the author s first book The Science of Success earlier, since it was so good.For people who want to know how Charles and David Koch made their money.For people who want to know how Charles views the world.For people who want to know the ethics of Charles Koch and most employees of Koch Industries Inc KII.For people who want to know the key principles and many applications of Charles Koch s Market Based Management MBM techniques philosophy.For people who want to know about how Koch Industries got started and some key things about it s founder Fred Koch, Charles father.For people who want some very real opposed perspective to the huge amount of vitriol and lies spewed about the Koch Brothers or Koch Industries Taking a company valued at about 20 million in the early 1960s and building it via voluntary transactions to over 110 Billion less than 60 years later is an incredible feat I loved finding out about how it was done.I loved hearing how a primarily but far from exclusively oil centered business morphed into one additionally handling consumer textiles, electronic components, paper products andso profitably and sustainably.I loved finding out about how Charles Koch integrated the key economic concepts, primarily marginal analysis and opportunity cost, into his management philosophy Some economics teachers professors can make those concepts real for some students, but this book is the first management focused one that taught the importance and helpfulness of those concepts in spades.I loved seeing great little quotations and summaries of important ideas from the likes of Bastiat, Mises, Hayek, Schumpeter, Einstein, Hobbes, Michael Porter, Michael Polanyi, etc etc weaved throughout the book I have muchto say about this book but no time right now Charles Koch provides an in depth look at Market Based Management and how it works toward earning a good profit Good profit is earned by achieving value for consumers instead of just profiting for the sake of profit or by receiving taxpayer funds through subsidies, exemptions, and credits By sticking with this principle throughout their companies, they continue to earn good profits and succeed This same commitment should be made in non profits, the private sector, and even in limited govern Charles Koch provides an in depth look at Market Based Management and how it works toward earning a good profit Good profit is earned by achieving value for consumers instead of just profiting for the sake of profit or by receiving taxpayer funds through subsidies, exemptions, and credits By sticking with this principle throughout their companies, they continue to earn good profits and succeed This same commitment should be made in non profits, the private sector, and even in limited government functions for the betterment of society Easily one of the most impactful books of 2015 and an instant favorite for me Charles Koch provides an accessible vision of the principles that lead Koch Industries and the power of the free market Definitely a must read for anyone in a supervisor role. Normally, I would avoid the works of the Koch brothers who are the primary beneficiaries of the horrible Supreme Court s Citizens United decision which declared that corporations are people too and entitled to free speech which frees the Koch brothers to spend millions on advertising by political action committees trumpeting the cause of the right and the horrors of the left However, Attention must be paid to such a person I believe the saying goes and as the 4th richest person in the Normally, I would avoid the works of the Koch brothers who are the primary beneficiaries of the horrible Supreme Court s Citizens United decision which declared that corporations are people too and entitled to free speech which frees the Koch brothers to spend millions on advertising by political action committees trumpeting the cause of the right and the horrors of the left However, Attention must be paid to such a person I believe the saying goes and as the 4th richest person in the country he obviously must be doing something right so decided to pay attention when I came across this book I must admit that it would have been interesting to work in a company that is based that truly embraces what Charles dubs Market Based Management which encompasses the following principles Integrity, Compliance, Value Creation, Principled Entrepreneurship, Customer Focus, Knowledge, Change creative destruction , Humility, Respect and Fulfillment At first I was impressed when he referenced some of the classic economic thinkers and some business research and as much as I like the ideas, the book quickly degenerated into a sea of platitudes and generalities While he presents case studies the results throughout the book tend to lack detail and specificity If there was ever a cry for numbers, this was it but it is sadly lacking in that regard Must be a case of I want to show you how I did it, but not too much Quantify, simplify, prioritize The MBM system is inspiring to me in that the largest privately held company applies this in every function of it s operations It s the secret sauce that is common sense and pure This book has taught me to think a Tad bigger and wrap my brain around the idea of leveraging peoples efforts via beneficial incentive systems This book is a win because it has inspired me to not miss the opportunity to acquire high quality assests and to always begin with the end in m Quantify, simplify, prioritize The MBM system is inspiring to me in that the largest privately held company applies this in every function of it s operations It s the secret sauce that is common sense and pure This book has taught me to think a Tad bigger and wrap my brain around the idea of leveraging peoples efforts via beneficial incentive systems This book is a win because it has inspired me to not miss the opportunity to acquire high quality assests and to always begin with the end in mind The principles I learned from Mbm have me brainstorming a new vision for my business that will revitalize and tranform the way I do business Great book by one of America s foremost billionaires People will see through the Left s lies and realize Mr.Koch is a decent human being Although a bit terse and technical at times, Good Profit is a great read on how entrepreneurial minded people can learn to cultivate and aspire to earn good profit. This really should have been 2 books The first about the Koch family and business history, which is fascinating, and scattered throughout the book And the second, a text book covering the Market Based Management philosophy that has served Koch Industries so well, with lots of case studies. *Download ↻ Good Profit: How Creating Value for Others Built One of the World’s Most Successful Companies ☔ THE UNIQUE MANAGEMENT SYSTEM FROM A LEGENDARY CEOIn , Charles Koch took the reins of his father s company and began the process of growing it from amillion start up into abillion global corporation one of the largest private companies in the world today, with value growth exceeding that of the SPbyfoldSo how did this MIT engineer manage to increase Koch Industries value by , times 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 , 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 societyWhile you won t find the Koch Industries name on your home s stain resistant carpet, your baby s comfortable but absorbent diapers your stretch denim jeans, or your television with a better clarity screen, MBM drove these innovations and many 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 Should be required reading for anyone going into business or management Even if you don t end up agreeing with Koch s approach system, he makes eloquent points that every business owner should at least consider Should be required reading for anyone going into business or management Even if you don t end up agreeing with Koch s approach system, he makes eloquent points that every business owner should at least consider Good ideas lead to good profits Read it.