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Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies
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Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies is a nonfiction book that outlines the management strategy of Charles G. Koch, the chief executive officer (CEO) of Koch Industries, Inc. It builds on his 2007 book, The Science of Success: How Market-Based Management Built the World's Largest Private Company, by including guidance on how to apply his management strategies and answers questions about Koch Industries' success and failures....
This is key takeaways and analysis of the book, not the original book.
Inside this Instaread of Good Profit:
- Overview of the book
- Important people
- Key takeaways
- Analysis of key takeaways
- Sales Rank: #39397 in Audible
- Published on: 2015-12-03
- Format: Unabridged
- Original language: English
- Running time: 25 minutes
Most helpful customer reviews
4 of 4 people found the following review helpful.
~~ Giving your customers the best ~~
By Richard and Liz
Charles Koch is the CEO of Koch Industries, Inc. Personally he was listed as the ninth richest person in the world in 2014. In this Instaread summary (think DETAILED review) the reader is presented with 9 Key Takeaways from the original book. Here are two to whet your appetite:
>> #2 - "Corporate welfare in the form of handouts and tax subsidies obscures the free market and is negative for the economy."
>> #7 - "In order for a company to succeed, employees must feel as though they are responsible for their work and have agency. This improves accountability and results."
How can adversity be a blessing and failure build character? Can we learn from what happened to Solyndra? What does MBM stand for? How many of us know that talent doesn't always equate to having good values? Be careful who you employ, ensuring that they have the same values that your company has. "Koch Industries complicated and thoughtful hiring process is extremely important to the company's growth." Their hiring system "does not value big-city educations or long resumes over the right value system".
Instaread describes this book as being a mixed hat with discourse, biographies and principles of MBM all thrown in together. Good Profit builds on the author's first book, The Science of Success. Some subjects are described as being "glossed over". With the original book at 288 pages, this Instaread summary is a great option for those who want/need to know what the original book is all about and get the major points. Please note that my review is based on the quality of this Instaread review and NOT the contents of the original. Book provided in exchange for an honest review. Thanks, Liz
1 of 1 people found the following review helpful.
Somewhat helpful, but falls short.
By Amazon Customer
Unlike most reviewers here, I paid for this Instaread pamphlet. Furthermore, I have no relationship with Koch Industries.
The pamphlet provides nine brief, dispassionate takeaways that reflect key points in the book (which I also read), but which hardly reflect the goodness that has been created by Charles Koch and Koch Industries. It appears to me that the author (who is not disclosed) of this pamphlet is actually hostile to Koch and perhaps to capitalism as well. It is particularly evident on page 29 of the pamphlet where the author is discussing Koch's style.
"Although [Koch] speaks candidly about his desire to improve the world ..., the book fails in this regard."
If you have read the book, you will know this statement is false. Charles Koch and his brother, David, grew Koch Industries into the largest private company in the country by pleasing customers. The book specifically discusses the importance of making sure customers are winners, rather than by screwing customers, or by making sure Koch's company got a special subsidy, or by lobbying for regulation to stop Koch's competition. Aside from providing livelihoods for over 100,000 employees, the lives and lifestyles of millions of people have obviously been improved, not only by the use of Koch Industries products, but also by the significant philanthropic endeavors of Charles and David Koch.
In my opinion, the key takeaways fail to reflect the obvious benefits that have come out the management principles at Koch Industries, and the section of the Instaread pamphlet on the author's style is a smear. It should be revised.
1 of 1 people found the following review helpful.
Business owners and all management personal could benefit from this book!
By L.M.R
Interesting read. Good profit by Charles G. Kock Key Takeaways, Analysis and Review is centered around businesses as well as management. In order to have a successful business one must have successful employees who take ownership in their own work. In achieving the employees ownership is making sure they are the right fit for the job as well as the company. Also giving them incentives to keep the employees wishing to be more for the company. Addressing each employees strengths to the company is another vital area that many companies fail to address. Giving all employees same raise regardless of their own work ethic is a fail, not a strength. This is a short 35 page overview of the original book, however I believe many owners and managers could profit from reading this. Although I received this item at a free and or a discounted rate in exchange for an unbiased review, it does not change my opinion on product.
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