Charles G. Koch Ebook Kindle ePUB The Science of Success How Market Based Management Built the World's Largest Private Company – DOC & Kindle eBook
Charles G. Koch Ñ 7 FREE READUpon writing this eview 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 ISdoes However Koch Industries is the world s most maligned private Company Whether That S Entirely Justified Or whether that s entirely justified or not depends on who you ask Regardless it is living breathing evidence of the successful business philosophy detailed within The Science of Success How Market Based Management Built the World s Largest Private Company SOSFor full disclosure I actually ead this book before my internship with Koch Industries began it was handed out for free during an intern welcome weekend and my copy has been signed by Mr Koch within Koch Charles Koch will always be eferred to as Mr Koch Not only did I ead this book thoroughly for the purpose of understanding the corporate culture that I would be joining that summer of 2013 I listened to Mr Koch himself speak on SOS s topics candidly without notes in personThe book introduces the different dimensions of Market Based Management which is Koch Industries scientific method to unning a successful business I strongly emember certain themes Have a vision for your firm align the incentives of each and every employee and know who has the ight to make what decision Creative destruction was also of interestWhat Science of Success eally introduces is the jargon of business Gone are enthalpy constants drill bit ates of penetration and other engineering terms I grew to hate anyway However the same engineering stereotype problem solving approach characterized by Mr Koch s MIT engineering education permeates SOS along with strong doses of learned humanities and economics If college students are exceptional at name dropping the places they studied abroad Mr Koch is borderline divine at uoting literary works which
showed during his speech and in SOS Eventually I learned the phrases create value and other business lingo are not uniueduring his speech and in SOS Eventually I learned the phrases create value and other business lingo are not uniue Koch Industries though mentioned a plethora of times in SOS Every firm has their own company culture but for a company with tens of thousands of employees you d be hard pressed to find a company culture as codified as Koch Industries it is laid out chapter by chapter in SOS Some parts of the book are challenging to synthesize Also it s doubtful in my mind that Mr Koch was as deliberate in decision making throughout the entire history of Koch Industries as SOS wishes he was That being said SOS is a synthesis of business philosophy not necessarily a perfect account of business success It eads as an informative text too with 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 PickensA must ead 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 beha. Ome story elements and can be slow at times All in all this book is excellent for people who want to understand what drives a business and at a intrinsic level what drives people But its academic approach and subject
matter and also the wary eye doubters keep on Mr Koch and his capital heavy ventures efiningand also the wary eye doubters keep on Mr Koch and his capital heavy ventures efining minerals fertilizer pulp and paper may cause one to pass on this book A 150 page pamphlet to bid current Koch employees to keep shares in Koch Some eally vague business advice on continuous shares in Koch Some eally vague business advice
On Continuous The Onecontinuous The one A fast ead but a good one It is easy to understand and filled with helpful principles I m looking forward to learning about 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 eally creates an exceptional environment to work in 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 worldFirst of all I eally 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 eason but I eally liked Koch s idea of studying history economics philosophy and to develop his ideas of building a strong company Actually Michael Polanyi the philosopherchemist he mentions a number of times is an thinker that I have encountered a number of times in eading theology and missialogy as well as some of the Chicago economics The basic solution of maximizing long term profitability by creating eal 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 are and difficult 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 eal value they do not always bring immediate success I thought the most interesting chapters and the ones I think CD Group has eally gone a long way to try and build were on Decision Rights Roles Responsibilities Expectations and the Knowledge Process The idea of eally building ownership into the employees so they always see that within their ole there is set esponsibilities and expectations true ownership where they can achieve eal progress and contribute He says that RRE within the company should be like property ights within society Throughout the book he tried to make the point that all parties bring uniue abilities that can contribute to overall profit if they are will. Vior Richard L Sharp Chairman CarMaxMy father Sam Walton stressed the importance of fundamental principles such as humility integrity espect 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 MartWhat accounts for Koch Industries' spectacular success Charles Koch calls it Market Based Management a vision that nurtures personal ualities 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 2002 Nobel laureate in economicsIn a very thoughtful creative and under.
Ing to work together in humility in the free markets creative destruction The idea of seeing the company as esponsible for piecing together a giant jigsaw puzzle all working together in a decentralized way within site of one another was very interesting as wellThat said the book was so simple and matter of fact that it was hard to believe that Koch Industries has achieved this among their matter of fact that it was hard to believe Koch Industries has achieved this among their employees It made me want to ead articles about them to see how they fare on putting all this to work throughout the organization 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 headuarters 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 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 ead it to learn about how he built the company and how he inspires his employees What I ead was nothing short #of astounding Koch Industries should be a ole model for other companiesThis book starts by providing # astounding Koch Industries should be a ole model for other companiesThis book starts by providing bit of history about how Koch Industries has become the largest privately held company in the United States in terms of evenue 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 ie it doesn t tell you how to un 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 ead and freuently eferenced You will eally enjoy it. Standable 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 ead for anyone interested in creating value William B Harrison Jr Former Chairman and CEO JPMorgan Chase CoThe same exacting thought ooted in the ealities 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.
Charles G. Koch
Charles G. Koch