To Get the Culture Right…
1) Trust in Truth ...
2) Realize that you have nothing to fear from truth. ...
3) Create an environment in which everyone has the right to understand what makes sense and no one has the right to hold a critical opinion without speaking up about it. ...
4) Be extremely open. ...
5) Have integrity and demand it from others. a) Never say anything about a person you wouldn’t say to them directly, and don’t try people without accusing them to their face. b) Don’t let “loyalty” stand in the way of truth and openness. ...
6) Be radically transparent. a) Record almost all meetings and share them with all relevant people. ...
7) Don’t tolerate dishonesty. a) Don’t believe it when someone caught being dishonest says they have seen the light and will never do that sort of thing again.
8) Create a Culture in Which It Is OK to Make Mistakes but Unacceptable Not to Identify, Analyze, and Learn From Them ...
9) Recognize that effective, innovative thinkers are going to make mistakes. ...
10) Do not feel bad about your mistakes or those of others. Love them! ...
11) Observe the patterns of mistakes to see if they are a product of weaknesses. ...
12) Do not feel bad about your weaknesses or those of others. ...
13) Don’t worry about looking good—worry about achieving your goals. ...
14) Get over “blame” and “credit” and get on with “accurate” and “inaccurate.” ...
15) Don’t depersonalize mistakes. ...
16) Write down your weaknesses and the weaknesses of others to help remember and acknowledge them. ...
17) When you experience pain, remember to reflect. ...
18) Be self-reflective and make sure your people are self-reflective. ...
19) Teach and reinforce the merits of mistake-based learning. a) The most valuable tool we have for this is the issues log (explained fully later), which is aimed at identifying and learning from mistakes.
20) Constantly Get in Synch ...
21) Constantly get in synch about what is true and what to do about it. ...
22) Talk about “Is it true?” and “Does it make sense?” ...
23) Fight for right. ...
24) Be assertive and open-minded at the same time. a) Ask yourself whether you have earned the right to have an opinion. b) Recognize that you always have the right to have and ask questions. c) Distinguish open-minded people from closed-minded people. d) Don’t have anything to do with closed-minded, inexperienced people. e) Be wary of the arrogant intellectual who comments from the stands without having played on the field. f) Watch out for people who think it’s embarrassing not to know. ...
25) Make sure responsible parties are open-minded about the questions and comments of others. ...
26) Recognize that conflicts are essential for great relationships because they are the means by which people determine whether their principles are aligned and resolve their differences. a) Expect more open-minded disagreements at Bridgewater than at most other firms. b) There is giant untapped potential in disagreement, especially if the disagreement is between two or more thoughtful people.
27) Know when to stop debating and move on to agreeing about what should be done. a) However, when people disagree on the importance of debating something, it should be debated. b) Recognize that “there are many good ways to skin a cat.” c) For disagreements to have a positive effect, people evaluating an individual decision or decision-maker must view the issue within a broader context. d) Distinguish between 1) idle complaints and 2) complaints that are meant to lead to improvement. ...
28) Appreciate that open debate is not meant to create rule by referendum. ...
29) Evaluate whether an issue calls for debate, discussion, or teaching. a) To avoid confusion, make clear which kind of conversation (debate, discussion, or teaching) you are having b) Communication aimed at getting the best answer should involve the most relevant people. c) Communication aimed at educating or boosting cohesion should involve a broader set of people than would be needed if the aim were just getting the best answer. d) Leverage your communication. ...
30) Don’t treat all opinions as equally valuable. a) A hierarchy of merit is not only consistent with a meritocracy of ideas but essential for it. ...
31) Consider your own and others’ “believabilities.” a) Ask yourself whether you have earned the right to have an opinion. b) People who have repeatedly and successfully accomplished the thing in question and have great explanations when probed are most believable. c) If someone asks you a question, think first whether you’re the responsible party/right person to be answering the question. ...
32) Spend lavishly on the time and energy you devote to “getting in synch” because it’s the best investment you can make. ...
33) If it is your meeting to run, manage the conversation. a) Make it clear who the meeting is meant to serve and who is directing the meeting. b) Make clear what type of communication you are going to have in light of the objectives and priorities. c) Lead the discussion by being assertive and open-minded. d) A small group (3 to 5) of smart, conceptual people seeking the right answers in an open-minded way will generally lead to the best answer. e) 1+1=3. f) Navigate the levels of the conversation clearly. g) Watch out for “topic slip.” h) Enforce the logic of conversations. i) Worry about substance more than style. j) Achieve completion in conversations. k) Have someone assigned to maintain notes in meetings and make sure follow-through happens. l) Be careful not to lose personal responsibility via group decision-making. ...
34) Make sure people don’t confuse their right to complain, give advice, and debate with the right to make decisions. ...
35) Recognize that getting in synch is a two-way responsibility. ...
36) Escalate if you can’t get in synch.
And...a great Interview of Dalio with Tony Robbins:
No comments:
Post a Comment