When it comes to organization and management, the most innovative company in the world is not a high- tech start up from Silicon Valley, but a Chinese white goods manufacturer.

In the 1990s the Brazilian business leader Ricardo Semler wrote a book entitled Maverick! about his bold and exciting experiments in management at the family company Semco.  When the youthful Semler took over the company he immediately dispensed with 60 per cent of the managers. He went on to make rewards and remuneration at the company transparent and democratic, and much more. Today, Semler continues to lead Semco . . .