The Science Success

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 organizationWhen 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.