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The Science of Success Audiobook

The Science of Success: How Market-Based Management Built the World's Largest Private Company

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Publisher's Summary

Charles Koch may well be the most successful businessman people have never heard of. Under his leadership, Koch Industries has become a dynamic and diverse enterprise that Forbes has called "the world's largest private company".

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:

  • Vision: Determining where and how the organization can create the greatest long-term value
  • Virtue and Talents: Helping ensure that people with the right values, skills, and capabilities are hired, retained, and developed
  • Knowledge Processes: Creating, acquiring, sharing, and applying relevant knowledge, and measuring and tracking profitability
  • Decision Rights: Ensuring the right people are in the right roles with the right authority to make decisions and are held accountable
  • Incentives: Rewarding people according to the value they create for the organization

    When these dimensions are applied in an integrated, mutually reinforcing manner, they create continuous transformation and positive growth. Any organization - corporation, small business, nonprofit, or government agency - can apply these proven principles.

    Download the accompanying reference guide.

    ©2007 Charles G. Koch; (P)2007 Gildan Media Corp

  • What the Critics Say

    "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)

    What Members Say

    Average Customer Rating

    4.2 (168 )
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    4.2 (128 )
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    Performance
    Sort by:
    •  
      Alex Younger 11-09-15 Member Since 2015
      HELPFUL VOTES
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      "Definitely good, but buy Good Profit"

      This book is no doubt great, but if you want to learn more buy his book, Good Profit. It covers everything in this book plus more.

      2 of 2 people found this review helpful
    •  
      Mitch 06-18-13
      Mitch 06-18-13 Member Since 2016
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      "Fantastic read"

      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.

      2 of 2 people found this review helpful
    •  
      Maurice Mc Hugh 03-16-15 Member Since 2016
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      "How to start an empire with just $70,000,000"

      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.

      1 of 1 people found this review helpful
    •  
      Scott Fabel Lancaster, PA, United States 08-04-13
      Scott Fabel Lancaster, PA, United States 08-04-13 Member Since 2010

      I'm a corporate training consultant and adjunct professor who loves to read! I'm always looking for the next big thing.

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      "Great Ideas for Business!"

      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!

      1 of 1 people found this review helpful
    •  
      QueenBegonia METAIRIE, LA, United States 07-08-12
      QueenBegonia METAIRIE, LA, United States 07-08-12 Member Since 2015
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      "It this can't convert Liberals, nothing can."
      If you could sum up The Science of Success in three words, what would they be?

      Most Intelligent American


      What did you like best about this story?

      The Author speaks from personal experience.


      Have you listened to any of Erik Synnestvedt’s other performances before? How does this one compare?

      No, but sounds fine.


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

      yes


      Any additional comments?

      Simply the best management book written.

      1 of 1 people found this review helpful
    •  
      Anita Wichita, KS, USA 09-07-07
      Anita Wichita, KS, USA 09-07-07
      HELPFUL VOTES
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      "MBM Review"

      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!)

      5 of 8 people found this review helpful
    •  
      April 10-15-16
      April 10-15-16 Member Since 2016
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      "Enjoyed it. easy to understand concepts"

      great company history and overall overview of how company became a juggernaut and financial power.

      0 of 0 people found this review helpful
    •  
      John E. Rocha Houston, TX United States 10-12-16
      John E. Rocha Houston, TX United States 10-12-16 Member Since 2010

      ligurio

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      "Success the Koch Way!"

      Erik Synnestvedt did a great job bringing the narrative alive through his reading. As much as I have heard about the Koch brothers, I did not realize how successful and influential they have been in building their business and their practice of "market based management." A great book to read whatever your profession.

      0 of 0 people found this review helpful
    •  
      Tipping Point Propellent 06-08-16 Member Since 2012
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      "Most excellent"

      Mr. Koch put into written form a way of being and doing that resonates at every level. Regardless of one's background and chief aim, it's a net gain to an overwhelmingly obvious degree.

      0 of 0 people found this review helpful
    •  
      Jordan M. Mackey Kansas City, Mo USA 04-09-16
      Jordan M. Mackey Kansas City, Mo USA 04-09-16 Member Since 2016
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      "excellent and easy to listen to."

      The science of success had many quotes and very helpful additional resource citations. the layout of the book and chapters was very fluid and appreciated.

      0 of 0 people found this review helpful

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