Management principles

Principles
By Ray Dalio

Principles
By Ray Dalio

Principles Why I Wrote This Part 1 – My Most Fundamental Principles Where I’m Coming From My Most Fundamental Principles The Personal Evolution Process Your Most Important Choices The 5 Steps to Personal Evolution The 5 Steps Close-Up Appendix: 10 Steps to Personal Decision-Making Part 2 – My Management Principles Get the People and the Culture Right Getting Specific

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A) To Get the Culture Right…
…Truth is Essential …Recognize That Mistakes are Good if They Result in Learning …Constantly Get in Synch

B) To Get the People Right…
…The Most Important Decision You Make is Choosing the Responsible Party …Recognize That People are Built Very Differently …Hire Right, Because the Penalties of Hiring Wrong are Huge …Understand the Differences Between Managing, Micromanaging and Not Managing …Probe Deep and Hard …Evaluate People Accurately, Not Kindly …Train and Test People through Experiences …Sort People into Other Jobs or Boxes at Bridgewater, or Remove Them from Bridgewater

C) To Perceive, Diagnose and Solve Problems…
…Know How to Perceive Problems Effectively …Follow a Systematic Approach to Diagnosing Problems …Put Things in Perspective …Design Your Plan and Your Machine …Do What You Set Out To Do

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D) To Make Decisions Effectively …
…Recognize the Power of Knowing How to Deal With Not Knowing

Principles
By Ray Dalio

Principles
I believe that having principles is essential--that without principles that make sense and are clear to us, we will flounder. That is why I believe we need to have a conversation. What are principles? Why are principles important? Where do principles come from? Do you have principles that you live your life by? What are they? How well do you think they will work and why? These are questions that I want to explore with you. During our exploration, I want you