May 9, 2015
Crown Business, an imprint of the Crown Publishing Group, has agreed to publish Chairman of the Board and CEO Charles G. Koch’s thought-provoking and prescriptive book detailing the proven success of the management principles and business philosophy at the center of Koch Industries, Inc. Good Profit: How Creating Value for Others Built One of the World’s Most Successful Companies, will be published in North America in October 2015, in print, digital, and audio by Random House Audio.
Read More: Charles Koch working on business book, scheduled for October
The book’s publication was announced today by Tina Constable, Senior Vice President and Publisher of Crown Business, who acquired world, audio, electronic, and first and second serial rights to the work. Leah Spiro of Riverside Creative Management, Inc. represented Koch Industries. Talia Krohn, Senior Editor at Crown Business, will edit the book.
In the business community, Charles Koch is known as a visionary who grew Koch Industries into the second-largest private company in America with revenues of approximately $115 billion according to Forbes. Koch companies have a presence in about 60 countries and employ more than 100,000 people worldwide, with 60,000 of those in the U.S. Charles has been intimately involved in the day-to-day management of the company’s business operations since 1961. He assumed the reins of the company in 1967 following his father’s death. It is largely thanks to Charles’ holistic approach to management – which he has dubbed and trademarked Market-Based Management – that the company’s value has increased 4,600 times under his leadership.
Good Profit details the management principles that have fueled Koch Industries’ astounding rise—and shows readers how to apply them in any business or other organization, and in their personal life. “I believe good profit is the result of principled entrepreneurship,” said Koch. “It occurs when businesses produce products and services that help people improve their lives, and do so while using fewer resources. This – rather than seeking corporate welfare – is the proper role of business. At Koch Industries, we use a framework called MBM®, which is based on a system of mutual benefit, respect for our customers’ values and jobs that bring genuine fulfillment. I credit much of our remarkable success (and ability to overcome setbacks) to MBM. It is my hope that this book will enable many others to also succeed by benefitting society.”
“Charles Koch is undeniably one of the great business icons of our time. His MBM® technique is the definitive treatise on management that we look forward to bringing to a wide readership,” said Constable. “We are thrilled to be Charles’s publishing partner for his book.”
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