Good Profit

This strategy, he maintains, has enabled the firm to deal with dramatic geopolitical, economic, and technological changes, and at the same time to earn what he describes as "good profits."

Koch underscores that to achieve long-term success a business cannot rely on short-term profits but must accept the necessity of what economist Joseph Schumpeter calls "creative destruction."

He also discusses such procedures as "benchmarking," which involves "identifying, understanding, and adopting superior practices from anywhere in the world.” The fourth dimension of MBM is "decision rights," which, Koch explains, "should reflect an employee's demonstrated comparative advantages."

In his review of Good Profit for the Financial Times, Ed Crooks described it as "invaluable as a window on the thinking of a hugely important US figure who is uneasy in the public eye.

"[2] Reviewing the book in the Wall Street Journal, Joseph Maciariello, professor emeritus of social science and management at Claremont Graduate University, wrote: “C.

William Pollard, chief executive emeritus of ServiceMaster, has posed the question: 'Can the business firm make money, create wealth, and also be a moral community for the development of human character and social concern?'

Buckley, writing in the American Spectator, suggested that Good Profit was “written for two different kinds of readers”: ambitious entrepreneurs and those who are curious “to know how a company that forswears crony capitalism can thrive, as Koch Industries did."

General Richard B. Myers, former Chairman of the Joint Chiefs of Staff, called it "The ultimate 'how to' book on running a successful business.... A must read for those who want to take their enterprise to the next level."

Charles R. Schwab described the book as "a clear example of the American dream and how our country benefits when successful entrepreneurs create new jobs (and more taxes for government services) while providing the golden egg for philanthropic efforts.