His new book, “Good Profit: How Creating Value for Others Built One of the World’s Most Successful Companies”, goes further, blending biographical tidbits and company history with case studies on how he’s applied his principles to Koch Industries. Along the way, he quotes everyone from the Buddha and his father and company founder, Fred Koch, to psychologist Abraham Maslow and free-market economists, such as Friedrich Hayek.

Charles Koch’s “Good Profit: How Creating Profit for Others Built One of the World’s Most Successful Companies” defends the free and prosperous commonwealth against cronyism (aka ‘bad profit’). But more than that, the author presents insights about economic freedom to set up his business management ideal, Principled Entrepreneurship.

Although “Good Profit” is primarily a guide for business owners and entrepreneurs, his book does offer advice for investors. Koch warns against overconfidence in making predictions, relying too much on experts and counting “sunk costs” based on past decisions (thinking “I’ll stay with this bad investment until it turns around and I get my money back”). According to Koch, investors should beware of “confusing random events with patterns that are really unpredictable.” Technical or charting analysis can lead you astray when they go contrary to sound fundamentals about a company.

The process of creative destruction can be competitive and sometimes messy and imperfect. But the real story of “Good Profit” is how a great American family is striving to do well by doing good.

The book—a blend of biography, social theory and management advice—also sheds light on the system of beliefs that guide Mr. Koch, both in business and in politics. His overarching view is that society benefits when people are free to pursue work they love, making them more productive. In “Good Profit,” Mr. Koch holds up his company as the living example of those ideals, from its emphasis on an employee’s values over his résumé to a relentless drive to question everything Koch Industries does and to strive for new ways to be more efficient. He cites the company’s growth—it has added 85,000 employees since just 2004—as evidence that these methods work.

In ‘Good Profit,’ Mr. Koch outlines the methods by which he has built a business that is now worth more than $100 billion and has created a thriving institution—a place where, as the management guru Peter Drucker once wrote, each member is encouraged to reach an ‘intellectual and moral growth beyond a man’s original capacities.’

Charles Koch’s new book, Good Profit, is written for two different kinds of readers. The first is the entrepreneur who wants to build up a firm, as Koch did in spectacular fashion. So much so that an investment of $1,000 in the company back in 1960 would be worth $5 million today (if dividends had been reinvested in the firm). I’m not that kind of reader, alas. I’m the second kind, who wants to know how a company that foreswears crony capitalism can thrive, as Koch Industries did.

Charles Koch’s new book, “Good Profit, How Creating Value for Others Built One of the World’s Most Successful Companies,” is a must-read for anyone seeking to understand the management philosophy of one of America’s great business leaders. The story of Koch Industries’ success, recounted in detail in this book, is so enormous and astonishing that at first glance, the reader might mistake it for a work of fiction.

Charles Koch has written an excellent book, Good Profit, exploring how and why Koch Industries has been so successful. In the book… he defines “good profit” as that from which a business makes from products and services that consumers freely choose to buy. Simple? Yes, but it’s surprising how many companies forget that truth.

His Market-Based Management system draws on those same insights at the level of the individual organization, and an exposition forms the meat of the book. In essence, it is a framework for encouraging effort and creativity by devolving authority and rewarding entrepreneurship and ‘prudent’ risk-taking.

Good Profit is as much a course in ethics as one in business management, and Koch is a business icon with the soul and inclination of a philosopher. For example, he attributes much of his company’s success to his Market-Based Management (MBM) system, which he spent years developing and refining. The core tenets of MBM are vision, virtue, talent, knowledge processes, decision rights, and incentives. These aren’t just a set of feel-good slogans, but a philosophy of management that pervades all of Koch Industries.

In his new book … Charles Koch details the business practices and management framework he used to turn the name Koch into one that means so many things: wealth, business success, politics and untold influence.

It was page 243 that really summed it up for me – the point that brings it all together. Of course, what am I talking about? I recently read a book that anyone in business, nonprofits or any type of organization for that matter should consider reading. While the book takes experiences from one of the largest and most successful companies in the world, the principles behind that business can be used anywhere.

This book is Charles Koch’s attempt at explaining the principles that he used to take his father’s company from a 1961 valuation of $21 million to one worth $100 billion in 2014. Put another way: Someone who invests $1,000 in Koch Industries in 1960 would now be holding $5 million in wealth. That’s a return 27 times greater than the average investor would have turned on the S&P 500 index.

I believe Charles Koch’s integrity and professional leadership are representative of the founding principles of America. This book is an excellent tool for entrepreneurs focused on achieving great things in a principled manner.

Writing about Charles Koch has become a cottage industry but, until now, there’s been little from the man himself. Read his new book, Good Profit, and you can learn directly from him what he thinks and how he has built one of the biggest and most successful businesses in the world.

The ultimate “how to” book on running a successful business. Charles Koch’s approach is extraordinarily thoughtful and comprehensive, reflecting his more than 50 years of experience in growing Koch Industries to the second largest private corporation in America. His emphasis on the key role that values play in his leadership and management model is especially important in today’s business environment. A must read for those who want to take their enterprise to the next level.

Here is a clear example of the American dream and how our country benefits when successful entrepreneurs create new jobs while providing the golden egg for philanthropic efforts. The real story behind this book is not just Charles Koch’s secret to success – it is the remarkable path he and his brother took in becoming two of America’s most generous philanthropists. Their recipe for creating ‘good profit’ has enabled them to grow their businesses, reward their employees and still have plenty left over to invest in important charitable groups and institutions supporting America’s freedom. It is a worthwhile read!

Good Profit is an exploration into the mind and philosophy of one of America’s most extraordinary businessmen. Charles Koch explains – through example, anecdote, and impressive analysis – how Market-Based Management has enabled Koch Industries to create real, sustainable value for consumers and businesses alike. He’s as candid about his failures as he is his successes, and willing to expose both in the interest of the greater good.

Charles Koch is a genuine patriot, and his lifelong mission is to make America as strong and free as she can be. He believes the principles of economic opportunity that have guided America are worth protecting. This book will teach us how.

Charles Koch is right, there is a difference between good profit and bad profit. And this book helps show you the way to good profit – whether you work for an international supermarket chain, a medium-sized regional business, or your own start-up.

A must read for any businessperson or serious student of business. As a transformative leader of Koch Industries, Koch the author delivers not just business wisdom but the economic punch of decision-making at the margin and Market-Based Management. The book, like Koch’s management tools, bridges theory and practice masterfully. But the title’s engine says it best: ‘Good profit’ arises from delivering value to customers. And Koch Industries’ spectacular success over the past half century shows that good profit creates great value.