Maverick 143yg

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

Goral Shroff

Nishant Singla

Karan Keshav Sood

Deepikaa S S

Harsh Toshniwal

Vaibhav Wadhwa

(PGDM-A)

INTRODUCTION “If you don’t know where you are going, any road will take you there…” 

Ricardo Semler changed SEMCO : AUTOCRATIC structure DEMOCRATIC structure. “This is not a business book. It is a book about work, and how it can be changed for the better.” -Ricardo Semler

RICARDO SEMLER 

Born 1959, Sao Paulo (Brazil)

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Best known for his innovative management policies

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Named Latin American businessman of the year in 1990 – Wall Street Journal.

Democracy 

Employees get a direct vote

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Subordinate vote on their bosses

Corruption 

No tolerance to dishonesty

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Trust employees. No frisking.

Bosses 

Reduced corporate staff by 75

percent 

Eliminated departments

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Less supervision required.

Organization Charts  Organizational Structure based on fluid concentric circles - > Three layers of mgmt ~ Counselors – CEO ,VPs ~ Partners - Business Heads ~ Coordinators -Functional heads ~ Associates - Everyone else Factory committees 

Representatives elected

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Negotiate with top mgmt.

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Empowered to declare strikes.

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Questions all aspects of mgmt.

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. ◦ Preparing more than one person for a job. Job security  No promise of job security  no breakage of promise. Family silverware  SEMCO employees meeting 70% of the requirements preferred over outsiders for a new position.

Lost in space 

Entry level applicants  Totally free.

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Free to roam

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First 12 months – 12 departments.

Mgmt by wandering around 

People separated by plants – designed to allow people to mingle.

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No walls between depts..

Profit sharing 

Splitting of profit i.e. distribution decided by workers.

Reverse evaluation  Hiring or promotion  evaluation by subordinates.  6 month evaluations Rules  As few as possible  No dress codes, 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

Transparency  All corp. information known to staff  Teach workers to read financial statements  Authority to employees to question managers

Surviving the worst… 

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1990 - 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

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!!!

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