Organizational Culture: "Principles" and a Bonus

Ray Dalio is the founder principal investor of Bridgewater Associates one of the most renowned hedge funds in the world. His handbook Principles share wisdom applicable to business and sports. Bridgewater's culture of openness, assertiveness, and criticism has caused controversy. "As of 2011, the fund is reported to have lost money in only three of its 20 years of existence and had an average annualized return of 18%." 

1. "Trust in truth." 
- Create an environment which is transparent and subject to criticism. 
- Have and demand integrity.
- "Be radically transparent."

2. "Create a Culture in Which It Is OK to Make Mistakes but Unacceptable Not to Identify, Analyze, and Learn From Them."
- Study why mistakes occur.
- Understand that innovation creates mistakes. 
- Study individual and organizational weaknesses.
- Learn from your mistakes. 

3. Everyone is different.
- People have different skills and needs.
- Match personalities and talents to the task.
- Strong personalities may not mesh/play well with others. 

4. "Hire right."
- Values exceed skills in importance.
- Find people who ask good questions.
- Hire people whom with whom you want to work. 

5. "Evaluate people accurately."
- Have performance metrics.
- Provide constant feedback.
- If employees are failing, assess whether through lack of training or skill.

Bonus: alternative to defeat the top of the 2-3 zone.