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No Rules Rules: Netflix and the Culture of Reinvention
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Penguin Publishing Group 2020
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Description
The New York Times bestseller
Shortlisted for the 2020 Financial Times & McKinsey Business Book of the Year

Netflix cofounder Reed Hastings reveals for the first time the unorthodox culture behind one of the world's most innovative, imaginative, and successful companies

There has never before been a company like Netflix. It has led nothing short of a revolution in the entertainment industries, generating billions of dollars in annual revenue while capturing the imaginations of hundreds of millions of people in over 190 countries. But to reach these great heights, Netflix, which launched in 1998 as an online DVD rental service, has had to reinvent itself over and over again. This type of unprecedented flexibility would have been impossible without the counterintuitive and radical management principles that cofounder Reed Hastings established from the very beginning. Hastings rejected the conventional wisdom under which other companies operate and defied tradition to instead build a culture focused on freedom and responsibility, one that has allowed Netflix to adapt and innovate as the needs of its members and the world have simultaneously transformed.
Hastings set new standards, valuing people over process, emphasizing innovation over efficiency, and giving employees context, not controls. At Netflix, there are no vacation or expense policies. At Netflix, adequate performance gets a generous severance, and hard work is irrel­evant. At Netflix, you don’t try to please your boss, you give candid feedback instead. At Netflix, employees don’t need approval, and the company pays top of market. When Hastings and his team first devised these unorthodox principles, the implications were unknown and untested. But in just a short period, their methods led to unparalleled speed and boldness, as Netflix quickly became one of the most loved brands in the world.
Here for the first time, Hastings and Erin Meyer, bestselling author of The Culture Map and one of the world’s most influential business thinkers, dive deep into the controversial ideologies at the heart of the Netflix psyche, which have generated results that are the envy of the business world. Drawing on hundreds of interviews with current and past Netflix employees from around the globe and never-before-told stories of trial and error from Hastings’s own career, No Rules Rules is the fascinating and untold account of the philosophy behind one of the world’s most innovative, imaginative, and successful companies.
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Format:
Adobe EPUB eBook, Kindle Book, OverDrive Read
Street Date:
09/08/2020
Language:
English
ISBN:
9781984877871
ASIN:
B081Y3R657
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APA Citation (style guide)

Reed Hastings. (2020). No Rules Rules: Netflix and the Culture of Reinvention. Penguin Publishing Group.

Chicago / Turabian - Author Date Citation (style guide)

Reed Hastings. 2020. No Rules Rules: Netflix and the Culture of Reinvention. Penguin Publishing Group.

Chicago / Turabian - Humanities Citation (style guide)

Reed Hastings, No Rules Rules: Netflix and the Culture of Reinvention. Penguin Publishing Group, 2020.

MLA Citation (style guide)

Reed Hastings. No Rules Rules: Netflix and the Culture of Reinvention. Penguin Publishing Group, 2020.

Note! Citation formats are based on standards as of July 2022. Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy.
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fullDescription
The New York Times bestseller
Shortlisted for the 2020 Financial Times & McKinsey Business Book of the Year

Netflix cofounder Reed Hastings reveals for the first time the unorthodox culture behind one of the world's most innovative, imaginative, and successful companies

There has never before been a company like Netflix. It has led nothing short of a revolution in the entertainment industries, generating billions of dollars in annual revenue while capturing the imaginations of hundreds of millions of people in over 190 countries. But to reach these great heights, Netflix, which launched in 1998 as an online DVD rental service, has had to reinvent itself over and over again. This type of unprecedented flexibility would have been impossible without the counterintuitive and radical management principles that cofounder Reed Hastings established from the very beginning. Hastings rejected the conventional wisdom under which other companies operate and defied tradition to instead build a culture focused on freedom and responsibility, one that has allowed Netflix to adapt and innovate as the needs of its members and the world have simultaneously transformed.
Hastings set new standards, valuing people over process, emphasizing innovation over efficiency, and giving employees context, not controls. At Netflix, there are no vacation or expense policies. At Netflix, adequate performance gets a generous severance, and hard work is irrel­evant. At Netflix, you don’t try to please your boss, you give candid feedback instead. At Netflix, employees don’t need approval, and the company pays top of market. When Hastings and his team first devised these unorthodox principles, the implications were unknown and untested. But in just a short period, their methods led to unparalleled speed and boldness, as Netflix quickly became one of the most loved brands in the world.
Here for the first time, Hastings and Erin Meyer, bestselling author of The Culture Map and one of the world’s most influential business thinkers, dive deep into the controversial ideologies at the heart of the Netflix psyche, which have generated results that are the envy of the business world. Drawing on hundreds of interviews with current and past Netflix employees from around the globe and never-before-told stories of trial and error from Hastings’s own career, No Rules Rules is the fascinating and untold account of the philosophy behind one of the world’s most innovative, imaginative, and successful companies.
reviews
      • premium: True
      • source: Kirkus
      • content:

        March 15, 2020
        Netflix co-founder Hastings and business guru Meyer hold forth on the unusual workplace culture--high performance, top pay, no rules, and constant candor--behind the entertainment company's streaming success. Founded in 1997 as a DVD-by-mail business, Netflix now has 7,000 employees, creates its own award-winning TV shows, and reaches 150 million streaming customers in 190 countries. In a 2018 Wall Street Journal profile, the firm was criticized for its sometimes "ruthless" approach, including the harsh firing of underperforming employees. In this debut, Hastings offers a different view. He celebrates his firm's culture, arguing that its emphasis on keeping only the most highly effective people is essential to innovation and creative success. In alternating sections with Meyer, who provides elaboration based on more than 200 Netflix interviews, Hastings details the making of the Netflix way, from hiring the best creative talent at high pay to increasing candor through frequent feedback and gradually removing controls that stifle innovation. The latter begins with removing vacation policies and travel/expense controls and culminates in sharing "unprecedented" amounts of company information so that employees can make good decisions on their own. No approvals from higher-ups are needed: "Don't seek to please your boss," only to advance the company. All of this is possible only after you have formed a team (not a family) of "self-motivated, self-aware, and self-disciplined" staff. A critical element, the "keeper test," suggests a staffer ask a boss, "If I were thinking of leaving, how hard would you work to change my mind?" Fired employees receive generous severance. The book is conversational, packed with sidebars, asides, graphs, and charts, and illuminating, sometimes self-satisfied anecdotes. Netflix-like cultures of "freedom and responsibility" are most effective in "creative" companies that depend on "innovation, speed, and flexibility." Firms focused on error prevention generally opt for stricter policies. A self-congratulatory but fascinating story of a counterintuitive approach that apparently works--at least for Netflix.

        COPYRIGHT(2020) Kirkus Reviews, ALL RIGHTS RESERVED.

      • premium: True
      • source: Publisher's Weekly
      • content:

        March 23, 2020
        Bringing impressive credentials to this riveting business guide, Meyer (The Culture Map), a professor at the INSEAD business school, and Hastings, cofounder and CEO of Netflix, walk readers through the “unique ecosystem” of the streaming giant’s corporate culture. They chart Netflix’s evolution, drawing from Hastings’s personal recollections, excerpts from Meyer’s more than 200 interviews with current and past Netflix employees, and selections of company PowerPoint meeting slides, emails, and “culture maps.” In order to “connect the dots” and form a coherent picture of Netflix’s management style, the coauthors identify the firm’s 10 key tenets, beginning with its foundational emphasis on “talent density,” and continuing with its “culture of candor.” In its quest to be the best, the company has rewritten many long-standing corporate rules, such as by “removing controls,” with the elimination of limitations on vacation time, among other measures. Sharing this kind of dramatic evolution requires a dense and info-packed book, but the authors break up the text with helpful end-of-chapter synopses to sum up the takeaways and boxed excerpts from employee interviews. Aspiring tech moguls should flock to Hastings and Meyer’s energetic and fascinating account.

      • premium: True
      • source: Library Journal
      • content:

        Starred review from May 1, 2020

        Hastings (Cofounder, chair, and CEO of Netflix) and Meyer (European Institute of Business Administration; The Culture Map) present a fascinating analysis of Netflix. Hastings begins with the rocky start of Netflix in '97 and takes readers to its current model of streaming combined with original films that have transformed the company into the powerhouse it is today. Hastings attributes this success to the distinctive company culture that values people over process, emphasizes innovation over efficiency, and has very few controls. Some of the Hastings principles include requiring employees to give candid feedback, not forcing employees to obtain approval for business expenses or decisions, deeming hard work as irrelevant while providing generous severance for adequate performance, and always paying top salaries in order to acquire and retain top star talent. Hastings explains how to build up talent density, increase candor, and begin removing controls. However, Hastings's work misses the importance of luck in his success, something he would consider the result of his continuous preparation for upcoming opportunities others miss. VERDICT Highly recommended for leaders eager to build innovative, fast, and flexible teams, and all university libraries supporting business and human resource development curriculum.--Dale Farris, Groves, TX

        Copyright 2020 Library Journal, LLC Used with permission.

      • premium: True
      • source: Booklist
      • content:

        August 1, 2020
        Hastings, CEO and cofounder of Netflix, and Meyer, a business professor at INSEAD, team up to explore the organizational cultures, successes, and lessons learned within Netflix, a global company and dominating force in the streaming industry. What are Netflix's expectations, norms, and goals for employees around the world? Hastings and Meyer cover topics like human resource management, corporate policies, and company culture, and more, taking turns throughout the book to explain a situation or practice. This format feels conversational, and makes the book very easy to follow. The authors share anecdotes, observations, and interviews from current and former Netflix employees to show how other leaders, managers, and organizations may implement company expectations or communication practices. The writing is also lucid, particularly on complex and dense issues such as expense approval or performance review processes. Readers interested in organizational leadership and management and the role of technology in business development will find this to be informative, thought provoking, and down-to-earth as Hastings and Meyer describe important facets of Netflix's organizational growth and innovative culture.(Reprinted with permission of Booklist, copyright 2020, American Library Association.)

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The New York Times bestseller
Shortlisted for the 2020 Financial Times & McKinsey Business Book of the Year

Netflix cofounder Reed Hastings reveals for the first time the unorthodox culture behind one of the world's most innovative, imaginative, and successful companies

There has never before been a company like Netflix. It has led nothing short of a revolution in the entertainment industries, generating billions of dollars in annual revenue while capturing the imaginations of hundreds of millions of people in over 190 countries. But to reach these great heights, Netflix, which launched in 1998 as an online DVD rental service, has had to reinvent itself over and over again. This type of unprecedented flexibility would have been impossible without the counterintuitive and radical management principles that cofounder Reed Hastings established from the very beginning. Hastings rejected the conventional wisdom under which other companies...
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