Running head: MARKET-BASED MANAGEMENT

Market Based Management: It’s Application in Business Today

Lindsey Nelson

Nova Southeastern University

Market-Based Management: It’s Application in Business Today

Introduction

Past management styles or practices have been mostly authoritarian or managed from the top down. There was little regard or consideration for the input of labor, supervisors or middle management. Their opinions and experience was only asked for in times of crisis when their knowledge of a particular situation or project was needed to help upper management make a decision on a particular problem which usually dealt with a financial area that would be solved to best suit the company or benefit the company
(introduce company—background, other info)

My employment experience with this company allows me to vouch for Rentenbach Constructor, Inc.’s (RCI) adherence to the concept of integrity. Part RCI’s mission statement includes the phrase “Building with Integrity” () The principle of integrity is so important to this company that this banner headlines the company’s website.

RCI follows Koch Industries’ philosophy of placing each person in the position for which he/she is best suited. This company understands the concept of the need to keep key personnel in areas in which they can best work within the company, and not have to be part of the company in which they have little experience or knowledge. For example, RCI separates the Estimating Department from the Operations Department. The Estimating Department demands personnel with specific technical knowledge and experience; the Operations Department requires managers, as well as personnel with technical knowledge. The company would not place an Estimator in Operations just because an open position is available in Operations and filling that position with someone from what appears to be a parallel department to expedite filling a necessary skilled personnel position. As is true in many cases this lesson