I greatly enjoyed The Science of Success and the underlying principles of Market-Based Management. I have always wanted to be a businessman, but have been so hesitant because I know that “business” often asks you to lower your standards a little to progress your own self-interest. Another one of my hesitations is that I love the principles of Macroeconomics and am disappointed with businesses’ ability to apply those principles to grow their own value and create their own comparative advantage. Charles G. Koch just showed to me that both of my businessman desires can now be fulfilled through MBM.
Koch dives into market principles in society, in an organization, and in an individual. A purely free-market, while having many advantages, has its disadvantages. People get nasty when they are only after their own self-interests. They disregard virtuous conduct and often lose their integrity. Koch has developed a system in his own company where people can seek their own self-interests (creating value, principled entrepreneurship, and fulfillment), while also maintaining virtuous conduct (integrity, compliance, humility, and respect.) Thus his employees create great value for the company as well as develop themselves by finding Aristotle’s “Mean” in all aspects of their lives.
This book is the accumulation of everything we have learned this semester in Koch Scholars. Whether we like it or not, we are all going to deal with businesses many times each day in our lives and many of us will become businessmen or women. It will be wise to remember the laissez-faire/moral conduct principles we have learned in Koch Scholars.