Science of Success How Market-Based Management Built the World's Largest Private Company

ISBN-10: 0470139889

ISBN-13: 9780470139882

Edition: 2007

Authors: Charles G. Koch

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Market Based Management (MBM) is a holistic approach to management that integrates theory and practice and prepares organizations to deal successfully with the challenges of growth and change. The theory of MBM is rooted in the science of human action, and is applied by Charles G. Koch in this book in five dimensions: vision (determining where and how companies best create long-term value); virtue and talents (helping ensure that companies hire and retain people with the right qualities and skills); knowledge processes (sharing and applying relevant knowledge and tracking profitability); decision rights (ensuring the right people are in the right places with the authority to make decisions, and holding them accountable); and incentives (rewarding people for the value they have created). Koch discusses each of these dimensions in detail throughout the book, and also draws on the lessons learned from his personal studies of human success/failure in the fight to achieve peace, prosperity and societal progress. Koch touches on topics such as history, economics, politics, government, and science and technology because all of these areas of life influence business management, decisions, and profitability.
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Book details

List price: $24.95
Copyright year: 2007
Publisher: John Wiley & Sons, Incorporated
Publication date: 2/26/2007
Binding: Hardcover
Pages: 208
Size: 5.25" wide x 8.50" long x 0.75" tall
Weight: 0.748
Language: English

Evolution of a Business
The Science of Human Action
Virtue and talents
Knowledge Processes
Decision Rights
Lessons Learned
Partial List of MBM Models
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