≡ PDF Good Profit How Creating Value for Others Built One of the World Most Successful Companies Charles G Koch Paul Michael 9780147520470 Books

Good Profit How Creating Value for Others Built One of the World Most Successful Companies Charles G Koch Paul Michael 9780147520470 Books

Download As PDF : Good Profit How Creating Value for Others Built One of the World Most Successful Companies Charles G Koch Paul Michael 9780147520470 Books

Good Profit How Creating Value for Others Built One of the World Most Successful Companies Charles G Koch Paul Michael 9780147520470 Books

Overall the book is well written and easy to read and includes a personal side of Charles Koch not seen before-like the 153 death threats he got in 2014. The book discusses how Koch has grown tremendously since the 1960's (Charles didn't simply inherit the company as some might say). At 79 Koch still puts in 9 hour work days. The company has grown so much by reinvesting 90% of their earnings back into the company. What is interesting is how Koch Industries despite having 100,000 employees doesn't appear to be bureaucratic and individuals are always asked to challenge and consider continuous improvement which sometimes never occurs at even Fortune 500 companies.

Overall the book is a mix of economics, a business profile, behavioral finance, philosophy, and good story telling of business failures. What I enjoyed the most Charles Koch is honest about his failures (there are plenty too). At one time Koch believed the company would go bankrupt in the 1970s. Koch tries to apply Market Based Management to every day examples (including the NFL and even how much time he should spend working editing grammar of the book he wrote). Case studies at the end of the book are interesting. Anecdotes of Koch over the long company history are sprinkled throughout the book. For instance the company got rid of insurance programs and mainly self insures. Only downside of book is wished it had more of the personal side. The book is really a great book for anyone who wants to try to live their life to their maximum potential.


Tags : Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies [Charles G. Koch, Paul Michael] on Amazon.com. *FREE* shipping on qualifying offers. <b>THE UNIQUE MANAGEMENT SYSTEM FROM A LEGENDARY CEO </b> 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,Charles G. Koch, Paul Michael,Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies,Random House Audio,0147520479,Decision-Making & Problem Solving,Management,Business ethics.,Management;Philosophy.,Value.,BUSINESS & ECONOMICS Decision-Making & Problem Solving,BUSINESS & ECONOMICS Management,BUSINESS & ECONOMICS Organizational Development,Business & Economics,Business & EconomicsBusiness Ethics,Business & EconomicsCorporate & Business History - General,Business & EconomicsDecision Making & Problem Solving,Business & EconomicsOrganizational Development,Business Ethics,BusinessEconomics,History Of Specific Companies,Management - General,Organizational Development,Organizational theory & behaviour,Unabridged Audio - BusinessProfessional,koch industries;koch brothers;charles koch;Market-Based Management;entrepreneur;management;leadership;economics;economic growth;business;technique;Koch industries;conservative politics;behavioral finance;finance;advice;how to;case studies;corporate america;koch brothers book;entrepreneurship;self help;business books;management books;organization;self help books;motivational books;money;business plan;problem solving;motivation;self improvement books;decision making;self development books,BUSINESS & ECONOMICS Decision-Making & Problem Solving,BUSINESS & ECONOMICS Management,BUSINESS & ECONOMICS Organizational Development,Business & EconomicsBusiness Ethics,Business & EconomicsCorporate & Business History - General,Business & EconomicsDecision Making & Problem Solving,Business & EconomicsOrganizational Development,Business Ethics,Management - General,Organizational Development,Unabridged Audio - BusinessProfessional,History Of Specific Companies,Business & Economics,BusinessEconomics,Organizational theory & behaviour

Good Profit How Creating Value for Others Built One of the World Most Successful Companies Charles G Koch Paul Michael 9780147520470 Books Reviews

This is probably the most underrated business book of all time. I have never read a book that packs so much wisdom and valuable advice per page, yet is so readable and practical and doesn't think too highly of itself. If I were a professor at some university's business school, I would make this book required reading. I can't help but think that the book might be underrated due to they way that some hate the author due to his politics? But the book itself isn't particularly political. It is mostly business common sense with many interesting real life experiences (both failures and successes) to back up the author's business principles. The author's business is the 2nd largest privately owned company in the US (with 1/2 the revenues of Apple!) - and this author is the primary moving force behind that sustained growth that happened over decades. (He started with an order-of-magnitudes smaller company some decades ago.) Some entrepreneurs make it big because they were in the right place at the right time with the right idea or product. In contrast, Charles Koch made it big more due to hard work and principled leadership. If he could get a young body and access to a time machine - and had to go back in time and start all over from scratch - and could only take his principles and his determination with him - (but no proprietary knowledge) - I'm convinced he would replicate his success - every time! Therefore, advice from him is much superior and beneficial than advice from most famous business leaders who stumbled upon the right product at the right time - and that is abundantly apparent when reading this book. Yet this book is very down-to-earth and Koch is very humble as he explains his extremely valuable philosophy and experiences.
Not surprisingly, the book includes some political points of view, which you may or may not agree with, but the main point of the book is the management philosophy called "Market Based Management" or MBM.

Interestingly, Koch's management philosophy values both virtue and talent, and virtue takes a precedence over talent. It includes an apolitical values based system at its core, and simple but often ignored economic principles to guide investments and decision-making.

One point that is key, obvious, and very attractive for someone that has worked in publicly traded companies, is his advice to entrepreneurs to keep their companies private. That is a solid advice, if viable, since that allows management to focus on the long term, make strategic decisions, and avoid the ups and downs and short-term thinking that pervades publicly traded companies (the quarterly rollercoaster).

Keep an open mind. Even in disagreement we can learn something from each other.
This is THE book for every entrepreneur and to be entrepreneur and business owner and professional to read. It's a BOOK that is so lacking in today's CUT THROUGH, get PROFIT at any cost world. It's a book that Uber's founder and former ceo should have read and tried to learn from. I've read it and suggest you do as well. Charles Koch is a VERY wealthy man - he's wealthy in vision, kindness, wanting to create a profit. Creating a profit not at the expense of others but in partnership with others. Read the book.
Market Based Management (MBM) framework

Mr. Koch explains Corporate Welfare and what he calls “bad” profit vs. Market Based Management principles and “good” profit. Where products and services are valued by the market and don’t have a need for corporate welfare (government subsidies, rebates, tax breaks, bail-outs, import tariffs.
MBM allows us to focus on consumer market needs and find solutions
Koch explains how his company has become so profitable over the years, including his family and personal values that have driven him to success. He tells have his employees successes and how the success of implementing MBM can benefit individuals and businesses profit in a principled way.
This is a very telling book and worth the read for both sole proprietors and corporate management and executives.
Overall the book is well written and easy to read and includes a personal side of Charles Koch not seen before-like the 153 death threats he got in 2014. The book discusses how Koch has grown tremendously since the 1960's (Charles didn't simply inherit the company as some might say). At 79 Koch still puts in 9 hour work days. The company has grown so much by reinvesting 90% of their earnings back into the company. What is interesting is how Koch Industries despite having 100,000 employees doesn't appear to be bureaucratic and individuals are always asked to challenge and consider continuous improvement which sometimes never occurs at even Fortune 500 companies.

Overall the book is a mix of economics, a business profile, behavioral finance, philosophy, and good story telling of business failures. What I enjoyed the most Charles Koch is honest about his failures (there are plenty too). At one time Koch believed the company would go bankrupt in the 1970s. Koch tries to apply Market Based Management to every day examples (including the NFL and even how much time he should spend working editing grammar of the book he wrote). Case studies at the end of the book are interesting. Anecdotes of Koch over the long company history are sprinkled throughout the book. For instance the company got rid of insurance programs and mainly self insures. Only downside of book is wished it had more of the personal side. The book is really a great book for anyone who wants to try to live their life to their maximum potential.