Market-Based Management Application
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Market-Based Management Application

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Short excerpt:

Charles G. Koch, the Chairman and CEO of Koch Industries, Inc., had pointed out that the strong performance and miraculous growth of his company is the result of the market-based management application. Market-based management was the management philosophy of the Kutch industries as it was developing from a medium player to a major stakeholder in the energy sector. Since market-based management is based on the dispersed knowledge at the hands of the at the bottom line market players, it helps to avoid the pitfalls of a centrally planned economy wherein expert knowledge often leads to catastrophic market collapses. Crucially, the paper examines the key postulate of the market-based approach that market logic organization is also applicable within the corporates and other business houses.

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