Principled Entrepreneurship « Napa Institute

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The term, “Principled Entrepreneurship” is defined by Charles G. Koch, CEO of Koch Industries, Inc. as “maximizing the long term profitability of the business by creating superior value for our customers while consuming fewer resources and always acting lawfully and with integrity.” Koch claims that this basically comes down to everyone in the business helping themselves by helping others to improve their lives.  It requires a team of workers, each of whom knows the right thing to do and is motivated in doing it, without explicit directions or overly detailed rules.  “Good Profit” then doesn’t mean high margins or high return on capital or lots of profit by just any means.  Rather, Good Profit comes about by the contribution that is made to enhance society- not from corporate welfare or similar ways that take advantage of others.

from Pinboard (jeromekatz)