Market-Based Management
During the program, Associates enjoy in-depth exposure to Market-Based Management® (MBM®), the management philosophy that helped make Charles Koch an extraordinarily successful businessman and enabled his company, Koch Industries, to become the largest privately held company in America.
Like a society, a company or organization is an economic system with rules, incentives, and cultural values. And like societies, companies and organizations differ drastically in their level of prosperity. That insight is at the heart of Charles Koch’s philosophy: Market-Based Management. Centuries of learning from all segments of society have taught us that freedom and free markets are powerful engines for generating well-being, discovery, and growth. With MBM, those lessons are applied to the inner workings of an organization.
Associates engage in an intensive Market-Based Management curriculum that includes the following:
- MBM courses - Classes on economic thinking, vision, integrity, incentive structures, hiring, and management techniques.
- MBM research projects - Multi-week, small group research focused on applying Market-Based Management to organizations; findings and recommendations are presented to mentors and other Foundation and non-profit staff members.
- MBM reading list and discussion groups - Reading topics and discussions cover the philosophical underpinnings and practical application of MBM, including classic texts from F.A. Hayek, Thomas Sowell, and Ludwig von Mises.
- Meetings with business and non-profit leaders - Meetings allow Associates to hear first-hand how MBM can be applied within firms and organizations.
