Accountability
- Short Description
-
Accountability, properly understood, is to take account of what happened and appropriately recognize those who contributed positively or negatively to results…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/accountability
Alignment of Incentives
- Short Description
-
Aligning the interests of employees with the interests of the company, our customers and society…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/alignment-of-incentives-
Be Open
- Short Description
-
Coming soon
- Principle in Brief Page
-
Believe in Yourself
- Short Description
-
Coming soon
- Principle in Brief Page
-
Benchmarking
- Short Description
-
Closing gaps is more than benchmarking against others, but benchmarking can be useful. Learn more through “Closing Gaps.”
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/closing-gaps
Bottom-Up vs. Top-Down
- Short Description
-
A bottom-up approach respects the inherent worth of each person and unleashes creativity, initiative and talents…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/bottom-up-vs--top-down
Build Personal Knowledge
- Short Description
-
Coming soon
- Principle in Brief Page
-
Building trust
- Short Description
-
Coming soon
- Principle in Brief Page
-
Capabilities
- Short Description
-
Koch’s long-term success has come from a focus on building capabilities that enable us to create superior value…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/capabilities
Changing Paradigms
- Short Description
-
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/changing-paradigms-
Closing Gaps
- Short Description
-
We seek to close the gap between what we are doing, however good, and what we could be doing if we were fully applying our principle-based framework.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/closing-gaps
Comparative advantage
- Short Description
-
Coming soon
- Principle in Brief Page
-
Contribution Motivated
- Short Description
-
Contribution motivated people are energized by continuously trying to improve, innovate, transform and creatively get results – which enables them to live lives of meaning.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/contribution-motivated
Contribution to Koch’s long-term success
- Short Description
-
Coming soon
- Principle in Brief Page
-
Cooperation and Teamwork
- Short Description
-
A fundamental principle of human progress is the division of labor by comparative advantage and the resulting increase in cooperation. Learn more through “Division of Labor by Comparative Advantage.”
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/division-of-labor-by-comparative-advantage
Creative Destruction
- Short Description
-
As entrepreneurs create new businesses, products, services, processes, methods or types of organizations, less-effective ones become obsolete…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/creative-destruction
Diversity
- Short Description
-
Coming soon
- Principle in Brief Page
-
Division of Labor by Comparative Advantage
- Short Description
-
Employees have a comparative advantage in a group when they can perform an activity at a lower opportunity cost than others…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/division-of-labor-by-comparative-advantage
Economic Measures
- Short Description
-
It is essential for us to have measures that help us understand reality and properly focus our efforts. Economic measures are a subset of the measures we need to be successful. Learn more through “Measures.”
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/measures
Economic Thinking
- Short Description
-
Economics is the study of choice in using scarce resources that have alternative uses…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/economic-thinking
Embrace Change
- Short Description
-
Coming soon
- Principle in Brief Page
-
Empowerment
- Short Description
-
When individuals believe they have a gift that can be developed and are free to determine and control their own lives, they are empowered to contribute…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/empowerment
Experimental discovery
- Short Description
-
Coming soon
- Principle in Brief Page
-
Experimentation and Experimental Discovery
- Short Description
-
To drive creative destruction, we encourage numerous well-designed experiments to determine which new businesses, products, services, processes, methods or type of organization will be successful…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/experimentation-and-experimental-discovery
Headwinds and Tailwinds
- Short Description
-
Applying the concept of headwinds and tailwinds helps us transform our ability to succeed in a variety of environments.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/headwinds-and-tailwinds
Humility
- Short Description
-
Humility is the absence of arrogance, not the denial of strength or intelligence...
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/humility
Innovation
- Short Description
-
Coming soon
- Principle in Brief Page
-
Integrity
- Short Description
-
Integrity means being committed to and living by a beneficial moral code...
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/integrity
Knowledge
- Short Description
-
Knowledge is more than data, facts or information; it’s about applying understanding and know-how profitably to improve results....
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/knowledge
Life of Meaning and Synergy
- Short Description
-
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/life-of-meaning-and-synergy
Marginal Analysis
- Short Description
-
What is the profitability of additional units of production, of one more or less plant, or of a larger versus a more modest investment? Marginal analysis looks at the benefits and costs associated with a specific change.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/marginal-analysis
Measures
- Short Description
-
It is essential for us to have measures that help us understand reality and properly focus our efforts…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/measures
Motivation
- Short Description
-
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/motivation
Multiple intelligences
- Short Description
-
Coming soon
- Principle in Brief Page
-
Mutual Benefit
- Short Description
-
At Koch we strive to apply a win-win philosophy in all we do.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/mutual-benefit
Openness
- Short Description
-
An open society encourages honest exchanges of knowledge, opinions and ideas...
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/openness
Options
- Short Description
-
Possessing an option provides the ability or right, but not the obligation, to take an alternative course of action...
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/options
Our Values
- Short Description
-
Of all the proven principles of human progress, these eight are the foundational values of our culture and thus are among the most important for all of us to exemplify daily. They are an essential aspect of our Virtue and Talents dimension. They define who we are as an organization and are necessary for the long-term success of Koch and each of us.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/our-values
Overcoming Entropy and Bureaucracy
- Short Description
-
At Koch, our approach to overcoming entropy is to create and deploy energy and knowledge through our principle-based framework…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/overcoming-entropy-and-bureaucracy
Overcoming entropy and bureaucracy
- Short Description
-
Coming soon
- Principle in Brief Page
-
Partner with those who share our vision and values
- Short Description
-
Coming soon
- Principle in Brief Page
-
Partnerships
- Short Description
-
The more people with different and advantaged capabilities join together the more successful they and their organizations will be…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/partnership
Personal Knowledge
- Short Description
-
We only truly know something when we can apply it to get results …
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/personal-knowledge
Personal knowledge vs. conceptual knowledge
- Short Description
-
Coming soon
- Principle in Brief Page
-
Principle-Based vs. Rule-Based
- Short Description
-
Setting expectations according to general principles without prescribed, detailed directives or rules is core to our culture and long-term success…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/principle-based-vs--rule-based
Principled Entrepreneurship™
- Short Description
-
We depend on the entrepreneurial contributions of our employees…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/principled-entrepreneurship-
Property Rights
- Short Description
-
Clear and protected property rights stimulate beneficial investment. To encourage a strong sense of ownership and entrepreneurship, employees are held accountable for a set of responsibilities and their results.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/property-rights
Republic of Science
- Short Description
-
The republic of science principle describes the way the scientific community ideally organizes itself so knowledge is generated and shared freely, leading to beneficial innovations.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/republic-of-science
Requirements for Human Action
- Short Description
-
What causes people to act?
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/requirements-for-human-action
Respect
- Short Description
-
Treating everyone with dignity and respect not only leads to better outcomes, it is the right thing to do. Respect is more than treating others kindly...
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/respect
Rewards, recognition and compensation
- Short Description
-
Coming soon
- Principle in Brief Page
-
Right Role
- Short Description
-
Roles and responsibilities are designed to fit each employee’s talents and interests, but in relation to the roles and capabilities of other employees in a way that optimizes the group’s overall performance. Learn more through “Division of Labor by Comparative Advantage.”
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/division-of-labor-by-comparative-advantage
Risk
- Short Description
-
As employees, we are expected to apply Koch’s risk philosophy, not our own…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/risk
Risk management
- Short Description
-
Coming soon
- Principle in Brief Page
-
Satisfy Unmet Needs
- Short Description
-
Identifying and satisfying unmet customer needs is essential to successful Principled Entrepreneurship™. Learn more through “Principled Entrepreneurship.”
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/principled-entrepreneurship-
Scientific Method and Challenge
- Short Description
-
After developing a theory, strive to disprove or find flaws in it, rather than trying to defend or justify it.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/scientific-method-and-challenge
Seek Help
- Short Description
-
Coming soon
- Principle in Brief Page
-
Seek Mutual Benefit
- Short Description
-
Coming soon
- Principle in Brief Page
-
Self-Actualize
- Short Description
-
To self-actualize is a deeply personal and unique journey of discovering your aptitudes, developing skills and using them in productive ways.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/self-actualize
Stewardship and Compliance
- Short Description
-
The essence of stewardship is recognizing our obligation to always act in a manner that respects the rights of others…
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/stewardship-and-compliance
Subjective value
- Short Description
-
Coming soon
- Principle in Brief Page
-
Supervisor responsibilities
- Short Description
-
Coming soon
- Principle in Brief Page
-
Talents
- Short Description
-
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/talents
Time Preference and Long-term Focus
- Short Description
-
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/time-preference-and-long-term-focus
Virtuous Cycles of Mutual Benefit
- Short Description
-
Virtuous cycles of mutual benefit are a never-ending, mutually beneficial process of opportunity generation.
- Principle in Brief Page
-
/content/koch/language-masters/en/principles-in-brief/virtuous-cycles-of-mutual-benefit