"Based on five decades of interdisciplinary studies, experimental discovery, and practical implementation across Koch businesses worldwide, the core objective of Koch's Market-Based Management system 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. 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."--From the publisher.

Includes bibliographical references (p. 259-263) and index.

pt. I.A win-win philosophy -- The glorious feeling of accomplishment : Life lessons from my father ; Koch after Fred : Building with stones that fit ; Queens, factory girls, and Schumpeter : The incredible (sometimes terrifying) benefits of creative destruction ; Overcoming bureaucracy and stagnation : Economic concepts to set you free ; Learning from adversity : Koch's major failures in applying MBM® -- pt. II. Vision : Guide to an unknown future ; Virtue and talents : Values first ; Knowledge processes : Using information to produce results ; Decision rights : Property rights inside the organization ; Incentives : Motivating the right behavior -- pt. III. Spontaneous order in action : Four case studies in Market-Based Management® ; Conclusion : The real bottom line -- Appendices : A. Koch's major business groups ; B. Businesses Koch has exited ; C. Products Koch trades.