Market-Based Management®
During the program, Interns learn about Market-Based Management® (MBM®), the management philosophy that has 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 is an economic system with rules, incentives, and cultural values. And like societies, companies or 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.
Interns engage in a Market-Based Management curriculum, including the following:
- MBM courses – Classes on economic thinking, vision, integrity, incentive structures, hiring, and management techniques
- 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 non-profit leaders, scholars, and other social change entrepreneurs - Meetings allow interns to hear first-hand how market principles can be applied to solve social problems
