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How to build trust and respect with team members
How to communicate effectively
How to motivate and inspire others
This means employees are given free rein to pursue new ideas that they see as in the best interest of the company.
This flexibility leads to new discoveries and allows Netflix to consistently reinvent itself in a rapidly changing world.
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MORE IDEAS ON THIS
It’s important to note that Netflix’s culture of freedom is made up of three elements:
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Highly successful and creative people can innovate better with more freedom.
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By 2019, Netflix had over 167 million subscribers in 190 countries and its original film Roma won three Oscars. Why did it, and not Blockbuster, succeed?
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But as the world changed, it became clear that Netflix did have something different.
In 2010, Blockbuster declared bankruptcy — they’d been unable to transition from DVD rentals to streaming.
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In 2000, Netflix co-founders Reed Hastings and Marc Randolph tried to sell their company to Blockbuster for $50 million.
“Of course, [Blockbuster] wasn’t interested. What did we possibly have to offer that they couldn’t do more effectively themselves?”
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NETFLIX’S CULTURE PROMOTES FREEDOM AND RESPONSIBILITY AND HELPS EMPLOYEES INNOVATE AND ADAPT
Netflix has what Hastings calls a “no rules rules” culture. They value “innovation over efficiency” and “people over process.”
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CURATED FROM
Best book I read in 2020. If you are looking for a book to help you with setting up and managing high performing teams, this is the book for you. How Netflix manages the team, vacation policy etc. you won’t be disappointed.
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Serendipity is making unexpected discoveries. It is not entirely controllable nor predictable. It means seeing solutions where others find none.
In a rapidly changing world, we don't know which problems to solve or which resources to develop. To meet this challenge, we mus...
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