[[ Ebook ]] ⇗ The Science of Success: How Market-Based Management Built the World's Largest Private Company ☠ PDF eBook or Kindle ePUB free

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 lotabout 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 th 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 lotabout 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 learnabout 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 [[ Ebook ]] ☟ The Science of Success: How Market-Based Management Built the World's Largest Private Company ⇸ Praise for THE SCIENCE OF SUCCESS Evaluating the success of an individual or company is a lot like judging a trapper by his pelts Charles Koch has a lot of pelts He has built Koch Industries into the world s largest privately held company, and this book is an insider s guide to how he did it Koch has studied how markets work for decades, and his commitment to pass that knowledge on will inspire entrepreneurs for generations to come T Boone Pickens A must read for entrepreneurs and corporate executives that is also applicable to the wider world MBM is an invaluable tool for engendering excellence for all groups, from families to nonprofit entities Government leaders could avoid policy failures by heeding the science of human behavior Richard L Sharp, Chairman, CarMax 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 accounts for Koch Industries spectacular success Charles Koch calls it Market Based Management a vision that nurtures personal qualities of humility and integrity that build trust and the confidence to enhance future success through learning from failure, and a culture of thinking in terms of opportunity cost and comparative advantage for all employees Vernon Smith,Nobel laureate in economics In a very thoughtful, creative, and understandable way, Charles Koch explains how he has used the science of human behavior to create a culture that has produced one of the world s largest and most successful private companies A must read for anyone interested in creating value William B Harrison Jr Former Chairman and CEO, JPMorgan Chase Co The same exacting thought, rooted in the realities of human nature, that the framers of the US Constitution put into building a nation of entrepreneurs, Charles Koch has framed to build an enduring company of entrepreneurs a company larger than Microsoft, Dell, HP, and other giants Every entrepreneur should study this book Verne Harnish, founder, Young Entrepreneurs Organization, author of Mastering the Rockefeller Habits, CEO, Gazelles Inc This book was interesting and clearly had good ideas But like most business books, I found it maddeningly vague Maybe it s the lawyer in me that wants careful definitions of everything, even when they are unwise or impossible But I still feel like I am missing something when I read most business type books This is no exception That said, his holistic approach to business largely makes sense and has clearly worked well. I borrowed this book from a friend because I have been looking into many private companies Koch Industries is the largest private company in the world.First of all, I really enjoy books that seem to be working with general wisdom, applicable to any sector of society or society at large I have enjoyed the Jim Collins books for that reason but I really liked Koch s idea of studying history, economics, philosophy andto develop his ideas of building a strong company Actually Michael Polanyi I borrowed this book from a friend because I have been looking into many private companies Koch Industries is the largest private company in the world.First of all, I really enjoy books that seem to be working with general wisdom, applicable to any sector of society or society at large I have enjoyed the Jim Collins books for that reason but I really liked Koch s idea of studying history, economics, philosophy andto develop his ideas of building a strong company Actually Michael Polanyi, the philosopher chemist he mentions a number of times, is an thinker that I have encountered a number of times in reading theology and missialogy as well as some of the Chicago economics The basic solution of maximizing long term profitability by creating real value in society, what he calls principled entrepreneurship, is the kind of sound thinking of any great company He went on to talk about foundational societal building blocks that areanddifficult to find and ensure like virtue, trust, humility, openness to challenge, etc While these are what in the long term carry individuals and corporations through to real value, they do not always bring immediate success I thought the most interesting chapters and the ones I think CD Group has really gone a long way to try and build were on Decision Rights Roles, Responsibilities Expectations and the Knowledge Process The idea of really building ownership into the employees, so they always see that within their role there is set responsibilities and expectations, true ownership where they can achieve real progress and contribute He says that R,RE within the company should be like property rights within society Throughout the book he tried to make the point that all parties bring unique abilities that can contribute to overall profit if they are willing to work together in humility in the free markets creative destruction The idea of seeing the company as responsible for piecing together a giant jigsaw puzzle, all working together in a decentralized way within site of one another was very interesting as well.That said, the book was so simple and matter of fact that it was hard to believe that Koch Industries has achieved this among their 80,000 employees It made me want to read articles about them to see how they fare on putting all this to work throughout the organization Interesting, obviously coming from a highly successful and thoughtful man If you are looking for evidence of a crazy man that doesn t share the values of most Americans trying to subvert our form of government through a covert takeover of the republican party there are other books that cover that topic Why can t he be both Not enough meet here to be able to actually draw that many useful things from a management perspective. A fast read but a good one It is easy to understand and filled with helpful principles I m looking forward to learningabout it What they do at KII works and I have seen how Charles Koch s Market Based Management transfers over to the non profit It really creates an exceptional environment to work in. I worked for a company under Koch ownership and this was my first exposure to the science behind the management and culture This book is truly what the Koch companies are about and the key ingredient is getting the right people in the right rolesthe rest truly does take care of itself Culture, mindset, and ongoing leadership development are key ingredients Being open to personal transformation is also a key ingredient I think this book would go well with Good to Great in terms of how to I worked for a company under Koch ownership and this was my first exposure to the science behind the management and culture This book is truly what the Koch companies are about and the key ingredient is getting the right people in the right rolesthe rest truly does take care of itself Culture, mindset, and ongoing leadership development are key ingredients Being open to personal transformation is also a key ingredient I think this book would go well with Good to Great in terms of how to think about the right people and leadership levels I do recommend this book and although it will not tell you how to do this in your own companies, it will give you a lot to think about in terms of key factors that have, and continue, to make Koch companies highly successful After reading this, look up the human action model on Google and read about the three ingredients for change this could help you begin transformation within your own function or company A 150 page pamphlet to bid current Koch employees to keep shares in Koch Some really vague business advice on continuous improvement The one thing I took away is that large businesses spanning many thick verticals are interesting beasts.I agree a lot with this review A 150 page pamphlet to bid current Koch employees to keep shares in Koch Some really vague business advice on continuous improvement The one thing I took away is that large businesses spanning many thick verticals are interesting beasts.I agree a lot with this review The second part of the book looks just like Think And Grow Rich by Napoleon HillAs of the first part, it s the typical Charles Koch view of business Upon writing this review, Koch Industries is actually the US s second largest private company, behind Cargill Like Cargill, most people have no idea what Charles G Koch s Koch Industries does However, Koch Industries is, perhaps, the world s most maligned private company whether that s entirely justified or wholly not depends on who you ask Regardless, it is living, breathing evidence of the successful business philosophy detailed within