A NEW YORK TIMES BESTSELLERKoch Industries is one of the largest private companies in the world with an estimated worth of $100 billion. But what makes this company so profitable? You won't find its name on the connectors in your smartphone or your baby's ultra-absorbent nappies, but Koch makes these and many other innovations, driven by its Market-Based Management (R) system for generating good profit.Good profit results from products and services that improve people's lives. It results from a culture where employees are empowered to be entrepreneurial and customer-focused.Drawing on stories from his nearly six decades in business, Charles Koch shows how any company, industry or organisation can:* Thrive in spite of disruption and changing consumer values* Create accountability with ownership and decision rights for employees based on their comparative advantages and contributions, not job title* Foster a culture of knowledge-sharing that rejects bureaucracy and hierarchy* Offer employees compensation limited only by the value they create - not budgets or policyA must-read for leaders, entrepreneurs, students and anyone who wants a more civil, fair and prosperous society, Good Profit is destined to rank as one of the greatest management books of all time.'This book helps show you the way to good profit - whether you work for an international supermarket chain, a medium-sized regional business, or your own start-up' John Mackey, Co-Founder and Co-CEO Whole Foods Market

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. Based on five decades of interdisciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, the core objective of MBM is to generate good profit. Good profit results from products and services that customers vote for freely with their dollars, products that improve people’s lives. It results from a culture where employees are empowered to act entrepreneurially to discover customers’ preferences and the best ways to satisfy them. Good profit is what follows when long-term value is created for customers, employees, shareholders, and society. Here, drawing on revealing, honest, and previously untold stories from his nearly six decades in business, Koch walks the reader through the five dimensions of MBM to show how to apply its framework to generate more good profit in any business, industry, or organization of any size. Readers will learn how to:

• Craft a vision for how to thrive in spite of increasingly rapid disruption
• Select and retain a workforce possessing both virtue and talent
• Create an environment of knowledge sharing that prizes respectful challenges from everyone at every level
• Award employees with ownership and decision rights based on their proven contributions, not job title
• Motivate all employees to maximize their contributions by structuring incentives so compensation is limited only by the value they create

A must-read for any leader, entrepreneur, or student, as well as anyone who wants a more civil, fair, and prosperous society, Good Profit is destined to rank as one of the greatest management books of all time.