This groundbreaking audiobook includes the same material used by leaders and employees of Koch companies to apply Marker-Based Management (MBM) to get results. Koch outlines this unique management methodology, developed and implemented by Koch Industries, which has experienced 2,000-fold growth since 1967. Today, Koch Industries has 80,000 employees in 60 countries; it had $90 billion in revenues in 2006.
MBM is a scientific approach to management that integrates theory and practice while providing a framework for dealing with the ongoing challenges of growth and change. There really is a science behind success, and it can be applied to any organization. MBM is rooted in the Science of Human Action, and is defined by five dimensions:
©2007 Charles G. Koch; (P)2007 Gildan Media Corp
"My father, Sam Walton, stressed the importance of fundamental principles¿such as humility, integrity, respect, and creating value¿that are the foundation for success. No one makes a better case for these principles than Charles Koch." (Rob Walton, Chairman, Wal-Mart)
This is Charles Koch's book. What more do you need to know? If you're in the world of business management and you don't immediately have a need to read the book based on the author, you may be in the wrong industry.
Fantastic book, short and to the point. I would highly recommend it to anyone who is interested in dynamic management skills.
I'm a corporate training consultant and adjunct professor who loves to read! I'm always looking for the next big thing.
A few weeks ago, I had the opportunity to do some consulting for one of the Koch Industries companies, Invista. I taught a course at its Wilmington, DE facility and then again at its headquarters in Wichita, KS. I was struck by the incredible ways in which the employees treated me--and each other! While in Wichita, I learned a lot more about Koch Industries and its business philosophy. I happened to visit the company story while in Wichita, and I saw that the CEO had written this book. I knew that I had to read it to learn more about how he built the company and how he inspires his employees. What I read was nothing short of astounding. Koch Industries should be a role model for other companies.
This book starts by providing a bit of history about how Koch Industries has become the largest privately held company in the United States in terms of revenue. It's no surprise that this was achieved through the implementation of the company's Market-Based Management (MBM) philosophy. The book goes on to describe MBM in great detail.
Personally, I had been exposed to only one aspect of MBM during my time at Invista: the Guiding Principles. There are ten Guiding Principles in MBM, and I was introduced to them because they are printed on all of the coffee cups in the corporate office in Wichita--what a great idea! The ten Guiding Principles are 1) Integrity, 2) Compliance, 3) Value Creation, 4) Principled Entrepreneurship, 5) Customer Focus, 6) Knowledge, 7) Change, 8) Humility (a personal favorite), 9) Respect, and 10) Fulfillment.
These Guiding Principles are described in the book, yet they make up only one part of the overall MBM philosophy. The other aspects of MBM include Vision, Virtue and Talents, Knowledge Processes, Decision Rights, and Incentives. Each aspect of MBM is described in this book, and examples are provided throughout. While I wouldn't say that this book is prescriptive (i.e., it doesn't tell you how to run a business), I would say that it provides a very valuable set of tools that can be used to improve any business. If you like business books, then this book needs to be read--and frequently referenced. You will really enjoy it!
Most Intelligent American
The Author speaks from personal experience.
No, but sounds fine.
Simply the best management book written.
I read the book, but until I heard the audiobook I really didn't understand that this is a common sense, old fashioned approach to running a business and your life.
I thought my grandfather was imparting his life knowledge to me!(Sorry Charles!)
The content is good, though it should be used carefully and definitely not blindly. In the end, the author states that learning the essentials is more important than trying to implement them step by step.
I found this book interesting, clear and simple. It contains some useful advice for businesses but nothing of significance that would not be found in any other handbook of business management philosophy.
There are also a few questionable 'facts' about the world, human nature and politics but I suspect the editor has kept these to a minimum.
Audio is well read and well presented.
I honestly only bought the audio recording as a suggestion of an upper level manager at Koch Industries... it has a lot of good stuff, but it really is intended mostly for folks that want to get higher at Koch Industries... there are far better books on success from other authors.
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