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  • The Science of Success

  • How Market-Based Management Built the World's Largest Private Company
  • By: Charles G. Koch
  • Narrated by: Erik Synnestvedt
  • Length: 3 hrs and 39 mins
  • 4.4 out of 5 stars (20 ratings)

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The Science of Success

By: Charles G. Koch
Narrated by: Erik Synnestvedt
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Summary

Charles Koch may well be the most successful businessman people have never heard of. Under his leadership, Koch Industries has become a dynamic and diverse enterprise that Forbes has called "the world's largest private company".

This groundbreaking audiobook includes the same material used by leaders and employees of Koch companies to apply Marker-Based Management (MBM) to get results. Koch outlines this unique management methodology, developed and implemented by Koch Industries, which has experienced 2,000-fold growth since 1967. Today, Koch Industries has 80,000 employees in 60 countries; it had $90 billion in revenues in 2006.

MBM is a scientific approach to management that integrates theory and practice while providing a framework for dealing with the ongoing challenges of growth and change. There really is a science behind success, and it can be applied to any organization. MBM is rooted in the Science of Human Action, and is defined by five dimensions:

  • Vision: Determining where and how the organization can create the greatest long-term value
  • Virtue and Talents: Helping ensure that people with the right values, skills, and capabilities are hired, retained, and developed
  • Knowledge Processes: Creating, acquiring, sharing, and applying relevant knowledge, and measuring and tracking profitability
  • Decision Rights: Ensuring the right people are in the right roles with the right authority to make decisions and are held accountable
  • Incentives: Rewarding people according to the value they create for the organization

    When these dimensions are applied in an integrated, mutually reinforcing manner, they create continuous transformation and positive growth. Any organization - corporation, small business, nonprofit, or government agency - can apply these proven principles.
    •
    ©2007 Charles G. Koch (P)2007 Gildan Media Corp
    Decision-Making & Problem Solving Management Career Business Employment Private Markets
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    Critic reviews

    "My father, Sam Walton, stressed the importance of fundamental principles¿such as humility, integrity, respect, and creating value¿that are the foundation for success. No one makes a better case for these principles than Charles Koch." (Rob Walton, Chairman, Wal-Mart)

    What listeners say about The Science of Success

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    Profile Image for Robbza

    One of the best...

    One of the all time best business books I've ever read. Provides absolutely spectacular insight. And written by a billionaire not some 'motivational guru' who makes a living selling books

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    2 people found this helpful

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    Profile Image for ken Zulu

    Dull as ditchwater

    Couldn’t believe the first chapter or two. So boring, bragadocious and not specific enough to be insightful. Oil, and compliance.....we are very rich and and getting better.

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