The Market-Based Management Institute was established in 2005 with the business concepts and tools developed by Charles Koch, Chairman and CEO of Koch Industries. The purpose of the MBM Institute is to advance the understanding and practice of Principled EntrepreneurshipTM and the Market-Based Management philosophy among scholars, students, educators, and community, non-profit, and government leaders. MBM is a management philosophy that enables an organization to succeed long term by applying the principles that allow a free society to prosper.

Research
The MBM Institute established the nation's first university center devoted to the study of the MBM philosophy, the Market-Based Management Center at Wichita State University. The Center houses an experimental economics laboratory, which is the first of its kind in Kansas. WSU students interested in applying to be subjects in the laboratory should check out the online recruiter.

Teaching
Institute staff teach a course on experimental economics at Wichita State University. They also teach "Economic Thinking Inside an Organization," which immerses students in the underpinnings of the MBM approach through readings drawn from economics, history, psychology, and other disciplines. Along with a rigorous reading list, the course features economic experiments designed to demonstrate market concepts to students.
In addition to reaching students through university courses, MBM Institute staff educates community, non-profit, and government personnel. By helping these audiences understand how to incorporate fundamental values and economic thinking into their decision-making, and stimulate within their organizations the entrepreneurial value-creation found in free markets, MBM Institute staff advance societal well-being at all levels.



Note: Market Based Management® and MBM® are registered trademarks of Koch Industries.