You want the secret for Koch’s success? Then understand MBM, Charles Koch argues. Koch Industries is so successful because of its culture, which has been spelled out in a remarkably detailed and well-codified philosophy called “Market-Based Management,” or MBM for short. When I met Charles Koch in 2015, he told me the same thing that he tells everyone who will listen.
And barely anyone can name what products they sell. How did the Koch brothers get so rich? After all, they didn’t invent something like the iPad or the Tesla. What isn’t obvious about Koch Industries is the reason for all this success. Charles and David Koch, who own most of the company, have a combined net worth that is greater than that of Bill Gates or Warren Buffett. Koch makes the kind of products that people can’t live without - gasoline, fertilizer, clothing, building materials - and it makes stunning profits doing so. The company’s annual sales are larger than that of Facebook, Goldman Sachs and U.S. There is no question that Koch Industries is successful. This question dogged me for several years as I reported a book about Koch Industries.
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