Good Profit

Good Profit, a NEW YORK TIMES BESTSELLER, delves into the extraordinary success story of Koch Industries, one of the world's largest private companies, worth an estimated $100 billion. The mastermind behind this phenomenal success, Charles G. Koch, reveals the secrets that have led to the company's unparalleled profitability and growth through insightful anecdotes from his nearly six decades in the business. Koch Industries may not be a household name, but its innovations are integral to many everyday products. From key components in your smartphone to the ultra-absorbent nappies for your baby, Koch Industries' Market-Based Management (MBM) system is the driving force behind these innovations. This unique approach to management focuses on generating "good profit" – profit that comes from creating value for customers and society. Koch explains that good profit not only improves people’s lives through the products and services offered, but also through cultivating an entrepreneurial and customer-focused workforce. In Good Profit, he shares how any company, industry, or organisation can employ these principles to thrive, even amidst disruption and evolving consumer values. Drawing on compelling stories, Koch illustrates how to:

• Thrive in spite of disruption and changing consumer values: Maintain growth and adaptability in a constantly evolving marketplace.
• Create accountability with ownership and decision rights: Empower employees based on their skills and contributions rather than their job titles.
• Foster a culture of knowledge-sharing: Encourage a work environment that dismisses bureaucracy and hierarchy.
• Offer employees compensation tied to the value they create: Develop a remuneration system where employees’ earnings reflect their contributions, unrestricted by budgets or policies.

Good Profit is a critical read for leaders, entrepreneurs, students, and anyone aspiring to foster a more civil, fair, and prosperous society. It synthesises transformative management concepts that go beyond traditional business models and is set to become one of the greatest management books of all time. This masterpiece doesn’t just offer theoretical wisdom but provides practical guidelines that can be implemented, whether you’re running a global supermarket chain, a mid-sized regional business, or a fledgling start-up. John Mackey, Co-Founder and Co-CEO of Whole Foods Market, praises the book stating, “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.” Explore the profound depths of business wisdom with Charles G. Koch in Good Profit, and discover how to unlock the potential of your organisation by focusing on creating real value.