Why old management models need a major overhaul: Gary Hamel
Not many people would be familiar with Morning Star, a tomato processing company near Sacramento, California. Management guru and author Gary Hamel, though, can't stop talking about it. What's got him so excited is the company's unique style of self-management, which is flat in the truest sense of the word. There are no managers and no formal hierarchies and employees sign a 'Colleague Letter of Understanding' with each other outlining what they will do for each other, Economic Times reported.
At the end of the year, a peer review committee evaluates performance based on the parameters in their contracts. Of course, this also requires the company to invest in upping the skill levels of its employees to enable them to function in this manner.
Read the full report here