Mark Twain is credited with saying, "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so."
In my opinion, never does this adage hold more truth than for the all-too many people who provide negative comments about Charles Koch.
Why a person should be so vilified simply for creating immense value in the marketplace, greatly improving the lives of the masses, and becoming extremely wealthy as a result is confusing enough. What's worse is that he is vilified for so much that he is not. For example, he is not a cronyist who seeks favors from government but rather eschews ALL forms of such. (In other words, he does not buy special favors from politicians but rather supports those who do *not* participate.) He is also not a "right-wing" Republican but rather a Classical Liberal (which most of us would call Libertarian). And, that’s just the tip of the iceberg of misunderstandings about this man.
What he IS is a person who lives his life and conducts his business in a way we should all do our very best to emulate. Based on principles of honesty, integrity, civility, respect, and value creation in all its forms, he has led his company to becoming the second-largest private company in the U.S., employing 100,000 people, 60,000 in the U.S, alone! They've also earned more than 1000 awards including those regarding safety and environmental excellence. WOW - what a monster! (Sorry, I’m not usually sarcastic but here’s a man who regularly receives death threats from people who simply fall victim to Twain’s above quote.)
Many of the other reviewers have provided excellent overviews of Mr. Koch's Market-Based Management Framework so I won't do that here. I will say that if you enjoyed his previous work, "The Science of Success" you'll enjoy and learn even more in this one.
While "Good Profit" is an amazing treatise on how to lead a company to great success *as a result of* benefitting all concerned (consumers, suppliers, employees, etc.) it's really so much more than just that. It's about having a life and business philosophy that leads to living a meaningful life; one of happiness and personal fulfillment. It's also about understanding how free-market principles (people voluntarily transacting with others without involving any type of force or fraud) means you MUST focus on brining value to others IF you are going to succeed.
Throughout my own business career, if I've noticed one thing, it's that: Money is simply an echo of value. Money is not the cause, it is the effect. It is not the target but rather the result of hitting the target. And, the target (in a true free-market) is to add value to the lives of others.
And, when you add exceptional value to the lives of many, many people, your company will thrive and become very, very profitable. In a free-market you can *only* do this by respecting your consumer and all others involved in the process. And, when this is the case, you have earned...good profit! The author shows us, step-by-step, how to do so.
To quote from the book's own writeup, it's "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."
I could not agree more!
If I might suggest, make a commitment to studying, learning, and then implementing Market-Based Management in your company regardless of your company's current size. Without question, purchase this book for every single member of your leadership team. And, if you'll invest in this book for every one of your employees, as well, you'll see a substantial increase in the number of employees who not only feel great about themselves and the work they are doing, you will see an increase in their loyalty, production, and in your company's bottom line.
A win for all...including those consumers who benefit from his work on a daily basis but who unthinkingly insist on hating one of America's great leaders and human beings.
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About the author
Fantastic book
Good Profit is a great read by a wonderful man. Mr. Charles Koch is a super hero for Humanity.
Top reviews from the United States
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- Reviewed in the United States on December 26, 2015
- Reviewed in the United States on November 1, 2015
Top reviews from other countries
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Marcos A.Reviewed in Brazil on October 23, 2023
Excelentes lições para perenizar uma empresa
- RoysReviewed in Germany on October 29, 2022
Best practice to increase inner value and apply in personal and business life.
- ZokuakuReviewed in Canada on May 26, 2020
Lean in to change, don't get to prescriptive and hold people accountable...
