Leadership style of Reed Hastings - owner of Netflix

Wilmot Reed Hastings Jr., who is more popularly known as Reed Hastings is an American businessman, technology entrepreneur, innovator, and author.1 He is best known as the co-founder, co-CEO, and chairman of Netflix.2 Reed Hastings went from being poor at the people part of the leadership to an honest-seeking executive and creating one of the Fortune World's Most Admired Top 50 companies. He is the person who changed how the world watches movies by co-founding Netflix in 1995. In 2011, he introduced the online streaming service and today, Netflix has a market cap of $73 billion. The company's success can be attributed to the idea, tech innovation, and the culture of honesty, trust, and responsibility that is practiced at Netflix.
Netflix is a video-rental company, and an on-demand internet streaming media which gives subscribers access to films, short movies, television shows, documentaries, and original content which cannot be found in other services.3 As Netflix grew, the company was noticed for its innovative management practices—the results of the culture W. R. Hastings was exploring—called “Freedom and Responsibility“. Reed Hastings takes a laissez-faire approach to leadership at Netflix, opposite to how he led in the past – the autocratic style he practiced at Pure Software, the company he ran before Netflix.4 Reed Hastings leadership style is a hands-off approach. Employees are given a high level of autonomy, but their expectations are high, and a culture...

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