In 1961, Charles Koch joined his father’s Wichita-based company, then valued at $21 million. Six years later, he was named chairman of the board and CEO of Koch Industries, Inc. Today, Koch Industries’ estimated worth is $100 billion — making it one of the largest private companies in the world. Koch exceeds the S&P 500’s five-decade growth by 27-fold and plans to double its value on average every six years.
What exactly does this company do and why is it so remarkably profitable? Koch’s name may not be on your stain-resistant carpet, stretch denim jeans, the connectors in your smart phone, or your baby’s ultra-absorbent diapers but it makes them all. And Koch’s Market-Based Management® system is what drives these innovations and many more.
Charles Koch’s Good Profit is a must read for any businessperson or serious student of business. As a transformative leader of Koch Industries, Koch the author delivers not just business wisdom but the economic punch of decision-making at the margin and Market-Based Management. The book, like Koch’s management tools, bridges theory and practice masterfully. But the title’s engine says it best: ‘Good profit’ arises from delivering value to customers. And Koch Industries’ spectacular success over the past half century shows that good profit creates great value.
– Glenn Hubbard, Dean and Russell L. Carson Professor of Finance and Economics, Columbia Business School
“The ultimate “how to” book on running a successful business. Charles Koch’s approach is extraordinarily thoughtful and comprehensive, reflecting his more thasn 50 years of experience in growing Koch Industries to the second largest private corporation in America. His emphasis on the key role that values play in his leadership and management model is especially important in today’s business environment. A must read for those who want to take their enterprise to the next level.”
— Richard B. Myers, General, USAF, Ret., 15th Chairman of the Joint Chiefs of Staff