MAVERICK!

The success story behind the world’s most unusual workplace…

Goral Shroff Karan Keshav Sood Harsh Toshniwal

Nishant Singla Deepikaa S S Vaibhav Wadhwa

(PGDM-A)

and how it can be changed for the better.” -Ricardo Semler .INTRODUCTION “If you don’t know where you are going. It is a book about work. “This is not a business book. any road will take you there…”  Ricardo Semler changed SEMCO : AUTOCRATIC structure DEMOCRATIC structure.

Sao Paulo (Brazil) Best known for his innovative management policies Named Latin American businessman of the year in 1990 – Wall Street Journal.RICARDO SEMLER  Born 1959.   .

. No frisking. Bosses  Reduced corporate staff by 75 percent   Eliminated departments Less supervision required.Democracy   Employees get a direct vote Subordinate vote on their bosses Corruption   No tolerance to dishonesty Trust employees.

. Empowered to declare strikes.Business Heads ~ Coordinators -Functional heads ~ Associates .> Three layers of mgmt ~ Counselors – CEO .Everyone else Factory committees     Representatives elected Negotiate with top mgmt.Organization Charts  Organizational Structure based on fluid concentric circles .VPs ~ Partners . Questions all aspects of mgmt.

Family silverware  SEMCO employees meeting 70% of the requirements preferred over outsiders for a new position. Job security  No promise of job security  no breakage of promise. ◦ Preparing more than one person for a job.Job rotation  Min – 2 yrs & Max – 5 yrs in the same job  Employee initiated offers considerable advantages  ◦ Obliging people to learn new skills. ◦ Discouraging empire building. . ◦ Broader view of the company.

distribution decided by workers.   Mgmt by wandering around  People separated by plants – designed to allow people to mingle. . No walls between depts..  Profit sharing  Splitting of profit i.e. Free to roam First 12 months – 12 departments.Lost in space  Entry level applicants  Totally free.

.  6 month evaluations Rules  As few as possible  No dress codes.Reverse evaluation  Hiring or promotion  evaluation by subordinates. regulations on travel  Trading written rules for “common sense” Salary Surveys  Employees set their own salaries  Interview counterparts in other companies.

Satellite Program  Outsource to workers  Assistance in entrepreneurial development  No restrictions – allowed to sell to the competitors Size  Lesser number = Better coordination  Bigger business units  split them Strikes  Cannot be eliminated  Avoid animosity  Informal conversations  Respect rights .

Brazil's economy went into a severe downturn Hyperinflation Workers at SEMCO agreed to wage cuts Multiple roles Outsourcing Promoting entrepreneurial abilities of the workers . information known to staff  Teach workers to read financial statements  Authority to employees to question managers Surviving the worst…      1990 .Transparency  All corp.

Conclusion • Breaks age old management myths • Pragmatic lessons for managers • Leadership skills Ratings  Rating a book like this is difficult as it is very subjective… still… .

THANK YOU!!! Questions and Queries? .

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