According to this article in The Wall Street Journal, the famous company Valve Corp. -- you know, the one that made Half Life -- operates without any bosses. In other words, the entire place functions without any kind of managerial hierarchy.
"It absolutely is less-efficient upfront," says Terri Kelly, chief executive of W.L. Gore, the Newark, Del., maker of Gore-Tex and other materials. Her title is one of the few at the company.
"[But] once you have the organization behind it...the buy-in and the execution happen quickly," she adds.
Companies have been flattening out their management hierarchies in recent years, eliminating layers of middle management that can create bottlenecks and slow productivity. The handful that have taken the idea a step further, dispensing with most bosses entirely, say that the setup helps motivate employees and makes them more flexible, even if it means that some tasks, such as decision-making and hiring, can take a while.