Book Review

Probably the world's leading proponent of workplace democracy and work-life balance, Ricardo Semler took over the family firm, Smco, from his father in 1981. He inherited a traditional $4 million company with 90 employees that was a major supplier of marine pumps to the Brazilian shipbuilding industry. Now with a turnover of $160 million and 3,300 employees, it has been the fastest growing company in Latin America in recent years. As well as pumps, it now encompasses a diverse portfolio of businesses including manufacture of mixers, dishwashers and cooling units as well as facilities management, environmental management, an HR outsourcing company and some internet incubators. But it's not what Semco does that's interesting, it's how they do it.