Publisher: Little, Brown, 2015, 276 pages
In 1961, Charles Koch joined his father's company, then valued at $21 million. Six years later, he was named chairman and CEO. Today, Koch Industries is one of the largest private companies in the world with an estimated worth of $100 billion. But what does this company do and why is it so profitable? You won't find its name on your stain-resistant carpet, 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® system for generating good profit.
Good profit results from products and services that customers vote for freely with their money — products that improve people's lives. It results from a culture where employees are empowered to be entrepreneurial and customer-focused. Good profit follows whenever long-term value is created — for customers, employees, shareholders and society.
Drawing on stories from his nearly six decades in business, Koch shows how any company, industry or organisation can:
A 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.
Well, the book claims to describe the "Market-Based Management" Framework, which it admittedly tries to do, but it is mostly hogwash and self-evident truths (granted, many talk the talk, but don't walk the walk).
What it really is, is a biography of the author, his family and their companies, and their guiding principles (he is a well-known right-wing Republican in the U.S., but he manages to hide it pretty well in the book).
The Koch Industries is an interesting corporate group, that has succeeded very well, so it was an interesting read from that perspective, but it was many times too personal to be enjoyable.
OK reading if you're interested, but don't expect to learn something new.