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“It’s up to you to decide what you want to get out of life and what you want to give.”
For an organization to work effectively, everyone must be aligned with the most important things for that company. If the workers are aligned, they will work together harmoniously. If they don’t, if they have different goals, that will cause conflicts and confusion. As there are no rules, people will act more on emotions and their own interests instead of the interests of the whole company.
Work Principles of Ray Dalio aren’t vague slogans. They are concrete and everyone can understand them in order to act on them.
Ray Dalio believes that the company is most effective if everyone follows Idea Meritocracy. This consists of three elements: radical truth, radical transparency, and believability-weighted decision making. The first 2 are easily understandable, you will find more information about the in the principle “Trust in radical truth and radical transparency”. In order to understand the third one, please check the principle below: “Believability weight your decision making.”
Actions to take
Create a culture in which it is okay to make mistakes and unacceptable not to learn from them.
Principles to follow
Look down on your machine (your organization) and yourself within it from a higher level.
Hold yourself and your people accountable and appreciate them for holding you accountable.
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