Netflix's 'no-rules' approach to innovation
How did a DVD-by-mail company transform itself into a leading global entertainment brand? By rejecting mediocrity, embracing negative feedback, and turning hierarchy on its head.INSEAD's Erin Meyer joins us to discuss Netflix's unique corporate culture, designed to maximise innovation by minimising rules and red tape. Her new book, No Rules Rules: Netflix and the Culture of Reinvention, was written with none other than Netflix co-founder, co-CEO and chairman Reed Hastings. In place of executive decisions and specific guidelines, Netflix employs a culture of constant, unflinching 360-degree feedback where merely adequate performers are quickly shown the door. Meyer explains how this company that operates, in Hastings's words, "on the edge of chaos" achieved its stratospheric success -- and how Netflix may be the role model for a post-pandemic economic rebound.Read more: https://knowledge.insead.edu/leadership-organisations/how-netflix-finds-innovation-on-the-edge-of-chaos-15311