What exactly does this company do and why is it so remarkably profitable? While you won't find the Koch name on your stain-resistant carpet, stretch denim jeans, the connectors in your smartphone or your baby's ultra-absorbent diapers, Charles Koch's Market-Based Management® system, intended to generate good profit, drove these innovations and many more.
Good profit results from products and services that customers vote for freely with their money; products that help improve people's lives. It results from a culture where employees are empowered to act entrepreneurially to discover customer preferences and the best ways to satisfy them. Good profit is the earnings that follow when long-term value is created for everyone - customers, employees, shareholders and society. Readers will learn to:
· Craft a vision for how a business can thrive in spite of disruption and ever-changing consumer values
· Find and retain a workforce possessing both virtue and talent (the first being the more important)
· Award employees with ownership and decision rights based on their comparative advantages and proven contributions, rather than job title
· Motivate all employees to maximise their contributions with effectively structured incentives so employees' compensation is limited only by the value they create - not budgets or company-wide policy
Descriptions are sourced from publishers or third parties and are not independently verified
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