BOOK SUMMARY: NO RULES RULES
No Rules Rules book is written by Reed Hasting and Erin Meyer. This book is about Netflix and the culture of reinvention.
Reed tells that Blockbuster is a thousand times of Netflix. He suggested that Blockbuster purchase Netflix and then they would develop and run blockbuster.com as their online video rental arm. The CEO of Blockbuster, John Antioco listened carefully, he asked, how much Blockbuster would need to pay for Netflix? When he heard Reed’s response $5 million he flatly declined. Marc and Reed left crest fallen.
Little by little, the world changed and Netflix business stayed on its feet and grew. In 2010, Blockbuster and declared bankruptcy. By 2019 only a single Blockbuster video store remained in Bend, Oregon. Blockbuster had been unable to adopt from DVD rental to streaming.
Netflix had pivoted from DVD by mail bushiness to become not only an Internet streaming service with over 167 million subscribers in 190 countries but a major producer of our own TV shows and movies around the world. Reed and his company introduced a new way for people to watch and enjoy great stories which in it's best moments broke down barriers and enriched lives. It was not obvious at that time, even to Reed but they had one thing bad Blockbuster didn’t, a culture that values people over process emphasised innovation over efficiency, and had very few controls. Netflix’s culture which focused on achieving top performance with talent density and leading employees with context not control, had allowed them to continually grow and change as the world and members’ need, have likewise morphed around them.
Netflix culture is famous, or infamous depending on someone’s point of view for telling it like it is millions of business people have studied the Netflix culture deck, a set of 127 slides originally intended for internal use but that Reed shared widely on the internet in 2009.
Like every company Netflix try to hire well.
Unlike many companies, Netflix practice,
Adequate performance gets a,
Generous severance package.
The other people should get a generous severance now, so we can open slot to try to find a star for that role,
The keeper test Managers use:
Which of my people if they told me they were leaving for a similar job at a peer company, would I fight hard to keep at Netflix?
Netflix vacation policy and tracking,
There is no policy or tracking,
There is also no clothing policy at Netflix but no one comes to work naked.
Lesson: you don’t need policies for everything.
In the book author is connecting the dots chapter by chapter, in the order that they discovered at Netflix. They also look at how they play out in the current Netflix work environment, what they have learned along the way, and how anyone might apply his own version of freedom and responsibility to his organization.
Comments
Post a Comment
If you have any doubt, please let me know.