The Science of Success
How Market-Based Management Built the World's Largest Private Company
"Evaluating the success of an individual or company is a lotlike judging a trapper by his pelts. Charles Koch has a lot ofpelts. He has built Koch Industries into the world's largestprivately held company, and this book is an insider's guide to howhe did it. Koch has studied how markets work for decades, and hiscommitment to pass that knowledge on will inspire entrepreneurs forgenerations to come."
—T. Boone Pickens
"A must-read for entrepreneurs and corporate executives that isalso applicable to the wider world. MBM is an invaluable tool forengendering excellence for all groups, from families to nonprofitentities. Government leaders could avoid policy failures by heedingthe science of human behavior."
—Richard L. Sharp, Chairman, CarMax
"My father, Sam Walton, stressed the importance of fundamentalprinciples—such as humility, integrity, respect, and creatingvalue—that are the foundation for success. No one makes abetter case for these principles than Charles Koch."
—Rob Walton, Chairman, Wal-Mart
"What accounts for Koch Industries' spectacular success? CharlesKoch calls it Market-Based Management: a vision that nurturespersonal qualities of humility and integrity that build trust andthe confidence to enhance future success through learning fromfailure, and a culture of thinking in terms of opportunity cost andcomparative advantage for all employees."
—Vernon Smith, 2002 Nobel laureate in economics
"In a very thoughtful, creative, and understandable way, CharlesKoch explains how he has used the science of human behavior tocreate a culture that has produced one of the world's largest andmost successful private companies. A must-read for anyoneinterested in creating value."
—William B. Harrison Jr., Former Chairman and CEO, JPMorganChase & Co.
"The same exacting thought, rooted in the realities of humannature, that the framers of the U.S. Constitution put into buildinga nation of entrepreneurs, Charles Koch has framed to build anenduring company of entrepreneurs—a company larger thanMicrosoft, Dell, HP, and other giants. Every entrepreneur shouldstudy this book."
—Verne Harnish, founder, Young Entrepreneurs' Organization,author of Mastering the Rockefeller Habits, CEO, Gazelles Inc.
Title: The Science of Success
Author: Charles G. Koch