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From Charles Koch’s The Science of Success:

“The key is to recognize when you are experimenting, and limit the bet accordingly.”

A friend works with Georgia Pacific, which in 2005 was acquired by Koch Industries. In my response to a question about “what things are like” working in a company guided by Koch’s business philosophy. Here’s what he had to say:

There is a palpable sense of leadership looking to advance a belief in entrepreneurship among employees – drilled down to all levels of employment so that people look at their jobs and try to find the most effective ways to perform and can be compensated as such. Not a usual tact for other companies.

I have admired Koch for some time, and am excited to be diving into this book. You can see a little more about the man and his Market-Based Management business philosophy here. Thanks to a commenter at Marginal Revolution for pointing out the aforementioned quote.