Charles Koch is probably one of the most outstanding entrepreneurs in the world today. Not the richest, the most influential or relevant for a lot of people. He happens to be the CEO of the largest private company in the world, but that is not what makes a difference. Charles has a personnal life experience that everyone should have a chance to learn about. Not only that, he wrote a book - The Science Of Success, that teaches to Koch industries workers and anyone who wants to buy it about Market Base Management. It's fundamentals are in five dimensions I would like to share with you:
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 holding them accountable.
Incentives: Rewarding people according to the value they create for the organization.
I wish that we had the chance, in Brasil, to educate our people, beggining in our own homes around these principles. Taking them to the work environment would be a fantastic change in the way people behave and companies are taken to a successfull journey.
For more on Market Base Management please visit:
http://www.kochind.com/MBM/default.aspx
If you have the chance don't miss Charles video about the lessons he learned from his father.
http://www.youtube.com/watch?v=VhCDK1OCRlc
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