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Purpose and benefits

Ricardo Semler is the man behind a magnificent Brazilian experiment in management and corporate structure. After a flirtation with a career in law, he went to work for the family company, Semler and Co. On his first day in the job, Semler fired 60% of the management. He carried on as he had started by radically overhauling the management structure, not once but several times, until eventually he was nominally in charge of a company in which the workers hired the management, fired the management, and set their own pay. Remarkably, this topsy-turvy corporate culture produced astonishing results and made Semler’s company one of the most-written-about businesses in the world.