Market-Based Management® Business Philosophy
INVISTA's Market-Based Management® (MBM®) business philosophy is a value system and a framework for action developed by Charles Koch, chairman of the board and chief executive officer of Koch Industries, Inc. and a member of the Board of Managing Directors of INVISTA B.V. It is a holistic approach to management that integrates theory and practice and prepares organizations to deal successfully with the challenges of growth and change.
The essence of the MBM® philosophy is creating real, sustainable value for customers and society as a whole. It encourages innovations that create value by making people's lives better and contributing to prosperity in society. Value creation requires consuming fewer resources, and providing customers with products that they value higher. This leaves more resources available to satisfy other needs in society.
The MBM® philosophy enables employees to constantly search for opportunities to improve and grow. Rooted in guiding principles such as integrity, humility and respect, the MBM® framework attempts to bring some of the workings of the free market inside the company—building on the belief that freedom is a powerful engine for generating well-being, discovery and growth.
In "Good Profit," Charles Koch shows managers, entrepreneurs, leaders, students, innovators, and employees of all kinds — and in any field — how to apply the principles of his revolutionary Market-Based Management® system to generate good profit in their organizations, companies, and lives. To learn more about this book, please visit www.goodprofitbook.com, and to learn more about MBM® philosophy, click here.