Book Description
Praise for THE SCIENCE OF SUCCESS
"Evaluating the success of an individual or company is a lot like judging a trapper by his pelts. Charles Koch has a lot of pelts. He has built Koch Industries into the world's largest privately held company, and this book is an insider's guide to how he did it. Koch has studied how markets work for decades, and his commitment to pass that knowledge on will inspire entrepreneurs for generations to come."
—T. Boone Pickens
"A must-read for entrepreneurs and corporate executives that is also applicable to the wider world. MBM is an invaluable tool for engendering excellence for all groups, from families to nonprofit entities. Government leaders could avoid policy failures by heeding the science of human behavior."
—Richard L. Sharp, Chairman, CarMax
"My father, Sam Walton, stressed the importance of fundamental principles—such as humility, integrity, respect, and creating value—that are the foundation for success. No one makes a better case for these principles than Charles Koch."
—Rob Walton, Chairman, Wal-Mart
"What accounts for Koch Industries' spectacular success? Charles Koch calls it Market-Based Management: a vision that nurtures personal qualities of humility and integrity that build trust and the confidence to enhance future success through learning from failure, and a culture of thinking in terms of opportunity cost and comparative advantage for all employees."
—Vernon Smith, 2002 Nobel laureate in economics
"In a very thoughtful, creative, and understandable way, Charles Koch explains how he has used the science of human behavior to create a culture that has produced one of the world's largest and most successful private companies. A must-read for anyone interested in creating value."
—William B. Harrison Jr., Former Chairman and CEO, JPMorgan Chase & Co.
"The same exacting thought, rooted in the realities of human nature, that the framers of the U.S. Constitution put into building a nation of entrepreneurs, Charles Koch has framed to build an enduring company of entrepreneurs—a company larger than Microsoft, Dell, HP, and other giants. Every entrepreneur should study this book."
—Verne Harnish, founder, Young Entrepreneurs' Organization, author of Mastering the Rockefeller Habits, CEO, Gazelles Inc.
Customer Reviews:
The Science of Success.......2007-09-30
I really enjoyed this book as you get to get into the mind of Charles Koch. I would have given it a 5 star, except I felt he could have added more substance to the book.
Amy Buick.......2007-09-16
The Science of Success packages a lifelong study of the conditions that support or conversely, stymie greater prosperity for all, adding a new dimension to the definition of corporate responsibility. I will continue to recommend this book to young, promising entrepreneurs who not only seek success but more importantly desire to add value to society.
Management Philosophies and Methods of a Successful Long-Term Leader.......2007-09-04
The privately held Koch companies have compounded their book value by about 20 percent a year since 1967, an enviable record that's made even more impressive by realizing the diversified nature of the enterprises the companies include. At the time of the writing, the combined firms account for $90 billion in annual revenues and employ 80,000 people in 60 countries. That's big-league success. What's more remarkable is that the author, Charles G. Koch, has headed these operations for 40 years while this success was accomplished. When Mr. Koch speaks, wise people should listen.
In The Science of Success, Mr. Koch describes the management philosophy and methods he has employed to direct his organizations. A well-read and thoughtful engineer, Mr. Koch's methods are not unique to him, nor are they originated by him. Rather the philosophies and methods are ones that he has combined in a novel way that few companies pursue.
Mr. Koch is a bigger thinker than that, seeing his methods (Market-Based Management) as a stepping stone between how individual performance can be improved and how liberty can free societies to accomplish more.
In focusing on Market-Based Management, Mr. Koch describes five key elements that need to be combined with one another for full effectiveness:
1. Vision (using experimentation to improve value delivered for customers based on a sense of what the best opportunities are and what the organization can most effectively accomplish)
2. Virtue and Talents (attract and retain people who want to follow the right principles with appropriate talents for the tasks)
3. Knowledge Processes (systematically add to, disseminate, and apply knowledge related to profitability)
4. Decision Rights (encourage people to become better decision makers after they have developed their skills and to be accountable for the decisions they make)
5. Incentives (reward employees as much as possible by the long-term value they have helped deliver for the organization)
Several things are noteworthy about the book that will interest you. Today, many organizations have "vision statements" which encourage everyone to do good while doing well. Mr. Koch finds that statements inadequate: He encourages instead that employees find out what improvements will expand sales and profits the most and focus on those . . . that's what he means by vision. Back when strategic planning was being formulated, that was the original meaning of vision . . . a meaning that's mostly been lost since then. I endorse Mr. Koch's view as an important one.
Another of Mr. Koch's valuable perspectives is to measure by opportunity cost: When you picked up a dime while a $5 bill rolled by, you didn't gain a dime . . . you lost $4.90. In today's quarter-by-quarter drive for profits among public companies, opportunity cost is all but ignored. That's a major mistake.
Mr. Koch is also a believer in being sure that the message is heard and understood. He points out how often when introducing new practices that no improvements followed because people didn't understand the purposes of the initiatives.
I found his concern about how success hobbles organizations matches my own research on the stalls (bad mental models and habits) that plague successful organizations . . . and turn them into unsuccessful organizations.
If you decide to read only one book about how to be an effective business leader this year, I encourage you to make it this one.
I also suggest you go further and visit Mr. Koch's company. You won't really understand what he's talking about until you see people applying this management philosophy.
Bravo, Mr. Koch!
A Distinct Worldview .......2007-08-06
Before reading The Science of Success, I had heard of Koch Industries and Charles Koch in passing, but had never really thought about the company, its people or, most importantly, their philosophy. After reading it, however, I've come to understand, just a bit, why Koch and his company are so successful in every way.
His Market-Based Management is much more than a recipe for success. It's a distinct, ethical and principled worldview in a world and age often lacking in well-thought out and much-less adhered to worldviews. I am not a businessman and work for myself. Nevertheless I found The Science of Success far more than just a book which explains why the company is so successful. The worldview expounded upon by Koch involves an understanding of history, human nature, the economy, culture and politics, among others. He draws on these as he explains, in greater detail, his Market-Based Management and how it applies to Koch Industries. But I believe it can be applied not only to business, but individuals as well and how we live our lives. The subjects of vision, virtue and talents, knowledge processes, decision rights and incentives (the five dimensions which make up MBM), can all be applied to us as we go about our busy lives, in our interactions with family, friends, co-workers, bosses, and others. It is this philosophy which makes The Science of Success an important read to those wanting to make a positive impact on the world around them.
Integrating Theory and Practice.......2007-08-06
By putting complex philosophical ideas into a practical context, Charles Koch's primer for prosperity demonstrates that voluntary exchange and individual responsibility are at the heart of success. Koch recognizes that his investment is in people--and that encouraging each employee find his inner entrepreneur creates value for the organization. Businessmen and bureaucrats alike will benefit from Koch's reasoned and readable discussion of how markets foster transformation, innovation, and ultimately, a freer society.
Book Description
This unique book is built around a performance orientation and the belief that real learning occurs only with the application of knowledge. It emphasizes market-based management—with a focus on the linkages between marketing strategy and profitability, and provides a systematic method for learners to evaluate the profit impact of a marketing strategy.
Coverage that goes beyond marketing fundamentals features a three-fold integration of market-driven strategy, customer satisfaction, and profitable growth—giving readers the tools and techniques for delivering higher levels of customer satisfaction, marketing productivity and profitability. A special effort was made to include more coverage of customer loyalty marketing, performance metrics, customer relationship marketing, and brand and product line strategies.
For anyone interested in strategic marketing.
Customer Reviews:
Great Book for Managers.......2007-03-21
This is a great book for managers who want to understand marketing better. It is truly customer-focused and performance-oriented. I teach Marketing in EMBA classes in the US and in Switzerland, and the students love this book, together with the applications.
Waste of time and money.......2007-03-14
This is nothing but a collection of definitions. You're better off finding a Marketing Dictionary and purchasing it. The description and the only other review gave the impression that this was a text, when in fact it is a glossary of terms. The book says "Textbook Outline" right on the cover, but even that is a blatant mis-representation.
A real treasure, an intro marketing book with substance.......2004-01-18
I really like this book. There are around 10 intro marketing textbooks, and they're almost all either (co-)authored by Kotler, or shameless rip-offs of his books.
Hats of to Roger Best for coming up with a book that's truly different. The approach is refreshingly down-to-earth, almost nerdy, including a lot of frameworks for financial or qualitative analysis that would be useful to any marketing manager in his or her daily life. Although it can be used as an introductory marketing textbook, you'll find a lot of material here that you don't find in Kotler and Kotler-clones, so I also recommend it to people who've had an intro marketing course, and who want to move beyond the basics. Likewise, this would be a great book for practicing marketing managers who've been out in the field a couple of years, and want to brush up on the basics, without wading through the usual definitions and useless frameworks in other intro textbooks.
The entire book is in black and white, lacking the usual fancy graphics, and it is only about half the length of other textbooks. I actually find that refreshing, and it is an extension the substance-over-hype approach behind this book.
Book Description
In some parts of the world, especially in developing markets, category management today remains a stretch goal – a new idea full of untapped potential. In other areas, the original eight-step process that emerged in the late 1980’s forms the foundation of many companies’ approach to category management. In still others, particularly in developed countries like the U.S., the U.K., and others, refinements are being made – most of them designed to place consumer understanding front and center.
New ideas are emerging – from "trip management" to "aisle management" to "customer management." Whether a new descriptor emerges to replace "category management" is yet to be seen. Even if that does happen, what won’t change is the overall objective – to help retailers and their manufacturer partners succeed by offering the right selection of products that are marketed and merchandised based on a complete understanding of the consumers they are committed to serving.
This book, which explores both the state of and the state-of-the-art in category management, is for everyone with a vested interest in category management. It can serve such a broad audience because category management is about bringing a structured process to how executives think and make decisions about their businesses, no matter what information and information technology they have access to.
Download Description
In some parts of the world, especially in developing markets, category management today remains a stretch goal a new idea full of untapped potential. In other areas, the original eight-step process that emerged in the late 1980's forms the foundation of many companies approach to category management. In still others, particularly in developed countries like the U.S., the U.K., and others, refinements are being made most of them designed to place consumer understanding front and center. New ideas are emerging from ""trip management"" to ""aisle management"" to ""customer management."" Whether a new descriptor emerges to replace ""category management"" is yet to be seen. Even if that does happen, what won't change is the overall objective to help retailers and their manufacturer partners succeed by offering the right selection of products that are marketed and merchandised based on a complete understanding of the consumers they are committed to serving. This book, which explores both the state of and the state-of-the-art in category management, is for everyone with a vested interest in category management. It can serve such a broad audience because category management is about bringing a structured process to how executives
Customer Reviews:
The Practicle Side Of Category Management Plainly Explained........2007-02-23
Some management publications slump into excessive conceptual theories, meaningless acronyms, or pointless detail that serve only to turn off the novice, while failing to add tangible value to those seeking to enhance existing expertise. ACNielson's "Consumer-Centric Category Management" is not one of these publications. The book is well structured, guiding the reader, in plain concise English, through the key A - Z stages, techniques, benefits and risks associated with the category management. Like me, I'm sure you'll find in every chapter practical ideas you'll be keen to try out.
Category Management.......2007-02-22
If you want to win in the shelves, and add value (profit), start to think in this fundamental subject. The book is not complete and doesn't have a minucious (technical) aproach, but has good cases and ideas to how conduct this action in your business.
You must read it.......2006-12-12
if you are not a retail guru, but if you're an executive involved with retail, fast moving consumer goods, shopper understanding, category management, trade promotions, and so on, you must read it. It's clear, ordered, easy to read, and best of all is edited by ACNielsen, wich is the global leader in FMCG information.
At the end of your reading you'll understand the importance of shoppers in the FMCG business, wich is the functionallity of decision trees, what's next beyond category management (trip management). Why is so important to understand shopper's behavior to achieve succesful exhibits and boost your sales.
Excellent Information, obviously biased.......2006-03-04
This is an excellent book for anyone involved in Category Management, seasoned pros and newbies alike.
It is not surprising to see of the companies and people involved in this book. It's disappointing to get through it and not hear from some of the great companies doing great work today. More people should share what they're doing.
The authors take great care to list the different tools used by each company. Kind in mind who who sponsored the book and realize that their are other tools at work in this industry.
Mark it up and keep it around. It has a great index and will serve as a good reference tool.
Book Description
Managed care contracting has become a key marketing challenge. The matter of managed care raises the most basic, crucial marketing questions such as: what are your organizations core services?, how will we deliver those services?, and how will we price those services?
Contracting in a Managed Care Environment: Market-Based Approaches offers practical advice on how to tackle the tactical, operational, financial, and actuarial issues surrounding managed care. Topics discussed include: ·
Developing a managed care strategy
Determining pricing options
Allocating funds and risk
Negotiating effective contracts
Establishing the necessary infrastructure
Customer Reviews:
Classical MBA litterature.......2000-07-06
In 1990 this book was revolutionary. Today, it is mostly interesting as the first book on the subject. Nobody in todays (business) world can have missed out on the concept that time is (or can be) a competitive advantage.
If you have missed this basic fact, do read this book, it explains in rather boring terms why it is so.
Personally I think they put to much emphasis on time as a competitive advantage, and tend to disregard other factors, equally important. A more relevant reading would in my opinion be D'Aveni's Hypercompetition, that takes the concept to its logical conclusion, which Hoult and Stalk misses.
Unfortunately, neither of the authors are very entertaining writers, especially as this book is usually mandatory/recommended reading in most MBA classes on strategy.
In conclusion, good, once revolutionary, but today mostly over-rated.
The Best Articulation of the Case for More Speed.......2000-05-21
Today's readers will think that this book is simply stating the obvious. That shows how much influence the book has had. Prior to the book's publication, most people felt that "getting things right" was more important than speed. This book points out that speed can actually be helpful in getting things right by encouraging you to improve your management processes so you do things right the first time.
Many companies have had trouble implementing this concept in the way it is articulated. They simplify their process, but may not improve it. This may mean that new products arrive in the market that are not really ready for the customers. That can be all right if you can quickly fine-tune the products in beta tests and the customers have that expectation because you are giving them so much benefit anyway. If you do this with me-too products that don't work, the results can be disastrous in terms of damage to your company's reputation and customer relationships.
The authors do not spend enough time on helping people understand how to improve their processes, and how to create more speed without killing stress on the people involved. For many companies, this book can be dangerous. I think this book could use a new edition that would address these two areas in more detail.
On the other hand, if you have any doubts about the potential benefits from speedier action, you should read this book. It will change your mind using excellent examples.
Have a speedy read!
superior insight on how to change a cost focus to time.......1999-09-23
Simply put, an oustanding book that has all the nuts and bolts needed to allow a company to transition to a time based focus from a cost based one. Easy to read, the logic is perfect. A must buy to have on your shelf (better yet ... on your desk). I read it first when I received my MBA ... read it again this last week .... and gave copies to top management I know around the country.
Product Description
Book Description
This unique book is built around a performance orientation and the belief that real learning occurs only with the application of knowledge. It emphasizes market-based managementwith a focus on the linkages between marketing strategy and profitability, and provides a systematic method for learners to evaluate the profit impact of a marketing strategy. Coverage that goes beyond marketing fundamentals features a three-fold integration of market-driven strategy, customer satisfaction, and profitable growthgiving readers the tools and techniques for delivering higher levels of customer satisfaction, marketing productivity and profitability. A special effort was made to include more coverage of customer loyalty marketing, performance metrics, customer relationship marketing, and brand and product line strategies. For anyone interested in strategic marketing.
Book Description
Using an applied approach that focuses on market orientation, marketing strategy, and market-based management, this book details the connections between a market-driven strategy, customer-value, and profitable growth. It outlines the tools and techniques for delivering higher levels of customer satisfaction, marketing productivity and efficiency, and overall profitability and shareholder value. Contains consumer examples throughout. Market-Based Management. Market Definition Potential, and Demand. Customer Analysis and Value Creation. Market Segmentation and Segmentation Strategies. Competitor Analysis and Competitive Position. Product Positioning and Product Strategies. Market-Based Pricing and Pricing Strategies. Marketing Channels and Sales Systems. Marketing Communications and Customer Response. Offensive Marketing Strategies. Defensive Marketing Strategies. Global Marketing Strategies. Developing a Marketing Plan. Strategy Implementation and Performance Metrics. Market-Based Strategies and Profitable Growth. For marketing managers.
Customer Reviews:
Excellent book on marketing strategy and tactics.......2000-09-30
I agree with the reviewers: this book is a hidden treasure. Very good content, oriented towards aspiring marketing managers. Covers lots of stuff (consumer behavior, competitive dynamics, pricing, promotions, channels, etc). Focus is on achieving quantifiable results. 5 stars book.
Best-ing Kotler as The Marketing Guru?.......2000-09-27
Excuse the above pun and forget the fact that this book is required reading in many top-tier MBA programs. This book stands on its own as an excellent marketing reference. Strategy, Theory, Best Practices, Real World Examples...this book's a marketing treasure trove. Only problem with books this good, you'll wish you had the hardcover.
Product Opportunity & Market Valuation.......2000-05-04
I found the text to provide an outstanding concise summary of product opportunity pursuits and valuation of business/product opportunities. The text includes lots of real world examples that reinforce concepts presented.
Average customer rating:
- much below expectations
- Avoid at all costs!
- Conjoint Measurement - Review
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Conjoint Measurement: Methods and Applications
Manufacturer: Springer
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ASIN: 3540404791 |
Book Description
The book covers all recent developments in Conjoint Analysis. Leading scientists present theory and applications of this technique. In short, the following models, techniques, and applications are discussed: normative models that maximize return, extension of choice-based conjoint simulations, latent class, hierarchical Bayes modelling, new choice simulators, normative models for representing competitive actions and reactions (based on game theory), applications in diverse areas, computation of monetary equivalents of part worth, share/return optimisation (including Pareto frontier analysis), coupling of conjoint analysis with the perceptual and preference mapping of choice simulator results.
Customer Reviews:
much below expectations.......2004-06-08
No explanation of conjoint analysis basics, no logical sequance of chapters, in other words in drastic need of improvement
Avoid at all costs!.......2002-03-30
This -- unfortunately -- is a terrible book. It is badly in need of editing. It is obvious from the authors' introductory chapter that their command of the English language is marginal at best. It would have helped to have a native English speaker review the manuscript before publication.
Even worse, the level of the contributed papers varies so widely that this book cannot serve as either an introduction or as a survey for knowledgable readers. I was hoping that at least one paper would explain the basics of conjoint analysis. But most of the authors either avoided technicalities, or else assumed that readers were already familiar with the model and its variants. Not one of them bother to explain the terminology, to write down a model clearly and succinctly, and to explain how the analysis works.
Overall, this was quite a disappointing book
Conjoint Measurement - Review.......2000-06-01
This is an excellent book on Conjoint Analysis. It was easy to read and understand.
Average customer rating:
- very comprehensive & easy to use
- For USA only!
- Excellent!
- An Inspirational Guide For Working At Home!
- This one is the "Bible" of home-based business info!
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Homemade Money: How to Select, Start, Manage, Market and Multiply the Profits of a Business at Home (Homemade Money)
Barbara Brabec
Manufacturer: Betterway Books
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ASIN: 1558704663 |
Customer Reviews:
very comprehensive & easy to use.......2001-03-24
This is easily the best book on starting & running a small business out of your home. Everything's there -- from marketing to taxes to family issues to copyright to going out of business and so much more. All the info is clearly laid out & indexed, which makes it a great reference book. Highly recommended for anyone considering a home business.
For USA only!.......2000-03-02
This book is a great job. This is a kind of encyclopedia of home businesses. You can really find how to select, start, manage, market, and multiply the profits of business at home. But almost all the reference information ablolutely useless outside the United States. Maybe, for foreigners from all over the globe this Barbara Brabec's book is an inspirational guide to dare to create your own home business. But for the first you need to collect extra corresponding reference information for your local country -- on law, banks, accounts, bookkeeping and so on.
Excellent!.......1999-02-11
This is THE book for anyone thinking about creating a home based business. Includes a crash course in business basics, up-to-date tax and legal info, nitty gritty marketing strategies, and a wealth of resources that will help you select, start, manage, and market a business at home.
An Inspirational Guide For Working At Home!.......1998-09-27
Every day countless numbers of people go into business for themselves from the comfort of their own homes. With the advances being made in computer and communications technology many are finding this a much easier task to accomplish. Barbara Brabec has written Homemade Money to provide detailed help to those persons desiring to work at home so they can set up and successfully operate their own businesses.
Readers will find Barbara Brabec's book an inspirational guide to help them establish a home-based business. She helps her readers to determine if a home business is right for them. She proceeds to guide them through the process of assessing their own situations, determining what kind of home business is right for them, developing an effective marketing strategy, and maintaining control once they get started.
Barbara offers readers recommendations on some of the home businesses they could start. According to her there are two kinds of businesses, product-oriented and service-oriented, both of which can be successfully operated from a home. She provides extensive listings of the possibilities that are available. Perhaps her readers could come up with some ideas of their own!
Barbara offers readers other important information they need to get started and to continue operating with as little trouble as possible. Essential information on topics such as copyright infringement, a crash course in business basics, concerns about MLM's (multi-level marketing), city ordinances governing home businesses, and taxes is provided to help readers avoid some of the pitfalls they could very well face. Extensive resource directories at the back of the book provide information about books, periodicals, organizations, and government agencies that can be of tremendous help to new business owners!
This is a well-rounded book that will inspire anyone to consider going into business for themselves at home. Barbara's desire to help others, a wealth of business ideas, tips and suggestions, and personal testimonies from her readers contribute to a very fine business book. Members of the online community will benefit from the help this book has to offer even though it does not specifically deal with online business practices. Highly recommended reading for anyone thinking about starting a business at home!
This one is the "Bible" of home-based business info!.......1998-08-03
Barbara Brabec has really put it all in this one. She covers the basics and more...everything you could need to know or she'll tell you where to go. Her writing style and sense of humor make her book fun to read and learn from. I've been checking this subject out for a while and this is the one book that seems quite complete. THANK YOU BARBARA BRABEC!
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