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Market-Based Management (MBM) is a philosophy and framework developed by economist and entrepreneur Charles Koch that focuses on fostering a culture of innovation and entrepreneurship within organizations. It emphasizes the importance of understanding market dynamics, consumer needs, and competitive forces to drive decision-making and strategy. MBM encourages organizations to create value by aligning their goals with the principles of free-market economics, promoting accountability, and empowering individuals to take initiative. Ultimately, the goal is to enhance long-term performance and sustainable growth through sound economic principles.

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