The Science of Success: How Market-Based Management Built the World's Largest Private Company
| Author | : | |
| Rating | : | 4.47 (860 Votes) |
| Asin | : | 0470139889 |
| Format Type | : | paperback |
| Number of Pages | : | 208 Pages |
| Publish Date | : | 2013-09-12 |
| Language | : | English |
DESCRIPTION:
A must-read for anyone interested in creating value." —William B. Charles Koch has a lot of pelts. MBM is an invaluable tool for engendering excellence for all groups, from families to nonprofit entities. Praise for THE SCIENCE OF SUCCESS "Evaluating the success of an individual or company is a lot like judging a trapper by his 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. Government leaders could avoid policy failures by heeding the science of human behavior." —Richard L. Every entrepreneur should study this book." —Verne Harnish, founder, Young Entrepreneurs' Organization, author of Mastering the Rockefeller Habits, CEO, Gazelles Inc.. 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 i
Best Management Book Since Drucker John Whitney The Science of Success is the most important book about governance, leadership and management since Drucker's magnum opus in 1974. This statement is not a casual claim but is the result of my close study of Charles Koch's Market Based Management during the past six years. MBM ® was an integral part of my course, Managing in a Market Economy at the Columbia Business School and has been the focus of my academic research as well as my service as a consultant and director of several public corporations. The book is short and seems deceptively simple but that is also true of the United States Constitution. Every sentence in the Cons. Wayne Gable said Rare Opportunity. The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image"Rare Opportunity" according to Wayne Gable. The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industryRare Opportunity The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its productsRare Opportunity Wayne Gable The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its products4. Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't rely on political connections or Wall Street gurus to help sell its productsRare Opportunity Wayne Gable The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its products4. Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't get jump-started with a technological breakthrough, or create a new industryRare Opportunity The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its productsRare Opportunity Wayne Gable The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its products4. Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't rely on political connections or Wall Street gurus to help sell its productsRare Opportunity Wayne Gable The Science of Success is a rare opportunity to learn how Charles Koch built one of the most successful companies in history. Think about it. This company:1. Didn't have a sexy product or build a national image2. Didn't get jump-started with a technological breakthrough, or create a new industry3. Didn't rely on political connections or Wall Street gurus to help sell its products4. Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. . Didn't, as a privately held company, have access to expansion capital from stock sales, and5. DID face stiff competition from some of the largest and most competitive companies in the world.Yet under the guidance of Charles Koch, Koch Industries grew fro. Is the next business paradigm shifting from Omaha to Wichita? Finally, Austrian economics has triumphed---in the business world! Imagine, a billionaire thanking Ludwig von Mises and Friedrich Hayek for creating the world's largest private company, Koch Industries. Koch's book shows how his "Market-based Management" (MBM) strategy could revolutionize business, government, and non-profits.Two years ago, Koch established the "Market Based Management Institute" at Wichita State University. Will it not be long before MBA students at Harvard and Stanford are assigned Mises's Human Action or Hayek's Individualism and the Economic Order? There's nothing like a big success story to transform the B sch
Employees are given "decision rights" according to their demonstrated ability to make choices that result in lower costs or returns that exceed the company's "opportunity cost," which Koch defines as the returns from investing in the best alternative. Readers expecting a recipe book for business success will be disappointed, but those of a more philosophical bent will find Koch's observations fascinating. Sprinkled throughout are miniature case studies from Koch's ascent, however, including his advice to be extremely cautious about entering partnerships and to do so only with an "exit mechanism" in case it doesn't work out. "Any employee who is not creating value does not have a real job in the MBM sense of the word," Koch writes, although a worker on the assembly line might consider his weekly paycheck real enough. Both fit with Koch's li