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Market-Based Management®

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Market-Based Management®

Market-Based Management®

 

A 3-Day Seminar on Monday mornings

March 11, March 25 and April 1, 2019

8:00 a.m. to 12 noon each day

Led by: Doug Karber, MBA, Director at Invista

 

In this seminar you’ll be given a “mental toolkit” of economic concepts that provide powerful insight into business operations.  You will also walk through the elements  of a market system that promotes entrepreneurial behavior and learn how to develop similar elements inside your organization.

The unique concepts and methods detailed in this program have been proven to strengthen profits, spur innovation and drive business success.  You’ll learn the key to success by fundamentally changing the way you approach business at every level of your organization.

This workshop combines top-notch teaching with participant exercises, case studies, and numerous examples to make these important concepts practical and useful.  Through the book “Good Profit”, by Charles Koch, it introduces the proven method of management applied by America’s largest, most successful, privately held corporation, Koch Industries.

The unique concepts and methods detailed in this 3-day program have been proven to strengthen profits, spur innovation and drive business success.

You’ll learn the key to success not by adjusting your style of management or improving some aspect of communications, but by fundamentally changing the way you approach business at every level of your organization.

This groundbreaking program introduces the proven method of management applied by America’s largest, most successful, privately held corporation, Koch Industries. These established management principles generate maximum efficiency and profitability within internal business units.  If you expect more from your organization, your employees and your career, you cannot afford to be without this program.

  • The role of business in society and what “value creation” really means
  • The importance of culture and how to intentionally cultivate a desired culture
  • Driving organizational improvement with economic and critical thinking, measures and organizational learning
  • Encouraging entrepreneurship by articulating responsibilities and ensure accountability with appropriate incentives

Business owners, CEO’s executives, and managers of all levels will benefit by putting into practice the principles learned in this course.

Once you have registered, a copy of the book “Good Profit”  will be sent to you at the address you registered under.  Along with the book, you will receive reading assignments for the first session.    

Register early, so that you have time to read the book!

If you have received the book, and cancel your registration, a $50 book fee will be assessed.

Introduction to MBM and Good Profit

  • Role of business in society
  • Economic means vs. Political means
  • Creative destruction
  • Experimental discovery

Vision

  • Vision development
  • Optimizing resources
  • Point of view

Virtue and Talents

  • Virtue vs talent
  • Virtue/talent matrix
  • Talent planning
  • Guiding principles

Knowledge Processes

  • The value of knowledge
  • Measures
  • Benchmarking
  • The challenge process

Decision Rights

  • Decision traps
  • Decision making framework
  • Roles, responsibilities and expectations

Incentives

  • Motivating people
  • Aligning incentives
  • Marginal contribution

“The decision making framework is a great process for staff/leadership/employees to apply in multiple situations.  It isn’t about the framework, i.e., checking the boxes, but the thought process involved with evaluating and making decisions.”         

Carla DeWalt, Leslie Rudd Investment Co. “

 

“I detailed out over 50 pages of notes.  It really got me thinking in a lot of areas of our company and how we can improve in many of these areas.  Our company’s culture is a very similar to Koch’s culture and some ideas we can implement immediately.  Others will take us several years.”                   

Barney Lehnherr, Transitions Group Inc.

This seminar is an introduction to the fundamental aspects of Market-Based Management®  (MBM®).

MBM® is the management philosophy that powers Koch Industries, Inc., one of the largest and most successful privately-held global companies.  Developed during the past 50 years by Charles G. Koch, Chairman of the Board and CEO, MBM® is a holistic approach to management that enables an organization to succeed long-term by applying the principles that cause a free society to prosper.

The essence of MBM® is creating real, sustainable value for customers, communities and companies.  MBM® encourages innovations that create value by making people’s lives better and contributing to prosperity in society.  MBM® also provides in-depth instruction for a number of topics, including vision, hiring and talent management, knowledge processes, accountability and incentives.

These principles help strengthen and position Koch’s businesses to create superior value for customers around the world.

  • Integrity
  • Compliance
  • Value Creation
  • Principled Entrepreneurship
  • Customer Focus
  • Knowledge
  • Change
  • Humility
  • Respect
  • Fulfillment

Wichita, Kansas-based Koch Industries, Inc. began as Wood River Oil & Refining Co. in 1940.  Koch Industries’ estimated worth is $100 billion – making it one of the largest private companies in the world.  With a presence in more than 60 countries, Koch companies employ more than 100,000 people worldwide, with about 60,000 of those in the United States.  From January 2009 to present, Koch companies have earned more than 1,000 awards for safety, environmental excellence, community stewardship, innovation, and customer service.

If you have any questions please feel free to

contact Paula Seiwert   paula.seiwert@wichita.edu    316-978-5144  

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