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The radical management policies of Netflix as a reflection of the digital economy. They’re a lot different than the those implemented by the companies Dad worked for during the Industrial Age.
1. No vacation policy (take as much as you want, as long as you’re doing a great job and covering your responsibilities).
2. “Outstanding” employees only- Doing an “adequate” job leads to your getting a “generous severance package,” so the company can hire an A-player in your place.
3. “Freedom and responsibility” vs command-and-control: Good managers give their employees the right context in which to make decisions–and then the employees make the decisions. Poor employee behavior is caused by misunderstanding – “Managers: When one of your talented people does something dumb, don’t blame them. Instead, ask yourself what context you failed to set. High performance people will do better work if they understand the context.”
4. No “brilliant jerks” – Star performers who also happen to be hell to work with are sent packing.
5. Prioritize Discovery Over Job Security – “Many people love our culture, and stay a long time. They thrive on excellence and candor and change….Some people, however, value job security over performance, and don’t like our culture.”
6. Creativity is Most Important – “ In procedural work, the best are 2x better than the average. In creative/inventive work, the best are 10x.”
Click here to see the whole Powerpoint. (You might have to hit the refresh button for it to load.)
Most of us use social media every day. Research shows this online networking makes people feel better about themselves. But could that positive feeling have a negative impact on behavior, making you spend more or even eat more?
As strange as it sounds, a new study suggests the answer is “yes.” Two marketing professors say their research shows – for the first time – that using online social networks can influence behavior by reducing self-control. They conclude that Facebook and other social media can have significant effects on consumer judgment and decision-making.
“People who use Facebook more tend to have a higher body-mass index (BMI), increased binge eating, carry more credit card debt and have lower credit scores,” said Andrew Stephen, an associate professor at the University of Pittsburgh.
Stephen and Keith Wilcox, an associate professor at Columbia University, believe these “unintended psychological consequences” of Facebook use are related to the ego boost people get from social media. And they found that effect is greater if you have a high percentage of close friends online.
“Simply browsing Facebook makes people feel better about themselves and momentarily enhances their self-esteem,” noted Wilcox. “It’s that enhanced self-esteem that ultimately lowers your self-control.”
Entrepreneurs like Tony Hsieh are disruptive and dangerous to people like the Koch brothers; dinosaurs left over from the Industrial Age. Men who strip a company or countryside down to nothing while extracting their profits and leaving the ruined remains for others to deal with.
eBrand Media has had the pleasure of working with Zappos. I know first hand that they treat their vendors as well as they treat their clients. We are pleased to have worked with them for a couple of years.
Facebook’s public offering will be the largest and perhaps most highly anticipated Internet deal in history. But faced with great expectations, Facebook is staring down some potentially unnerving obstacles when it comes to key areas of monetization and growth: public distrust and display advertising apathy.
According to a new AP-CNBC poll, 57 percent of Facebook users say they never click ads or other sponsored content when they use the site, with another 26 percent saying they hardly ever engage in such activity. Only 4 percent of users say they often click on ads — results that are only slightly better than the 2-3 percent clickthrough rate some experts consider the benchmark for effective banner ads.
While the company makes money, in part, simply by displaying sponsored content, user clicks are a critical part of an advertiser’s calculus when gauging how effective those ads are and how much they’re willing to pay for them. In the first quarter, Facebook generated 82 percent of its $1.06 billion in revenue from advertising sales. In the company’s online IPO pitch to retail investors, CFO David Ebersman says the company is working to make ads “more relevant, more social, and more engaging” as it looks to grow.
And while Facebook has been able to decrease its reliance on sponsored content (down from 98 percent of sales in 2009), the hopes of expanding the company’s e-commerce footprint also faces public resistance, the poll shows. A majority of participants (54 percent) said they wouldn’t feel safe using the platform for financial transactions like purchasing goods or services. Only 8 percent said they would feel extremely or very safe in doing so.