Management is about coping with complexity. Without good management, organizations become chaotic in ways that threaten their survival. Good management brings order and consistency through the unending practice of (a) setting tough goals, (b) establishing processes to reach them, (c) carrying out those processes, and (d) carefully learning from the results.

Team. As a manager, it's your responsibility to create high performance teams. High performance teams are fast. They're always looking to accelerate their OODA loops. They value speed not just for it's own sake, but also because fast teams are necessarily decentralized — low in friction, and high in trust.

• Equip teams with a vision, goals, distinct roles, membership stability for 18+ months, clear (yet porous) boundaries
• Create a reward and accountability system, for both individuals and the team as a whole
• Give teams autonomy to manage team processes
• Keep great teams together
• Encourage initiative at all levels; execute-and-communicate over ask-and-wait

Organization. The success of your organization has more to do with clarity of a shared vision, common principles, and strength of belief in them, than to assets, expertise, operating ability or management competence, important as they may be.

• Design a structure to implement your strategy
• Then adjust the structure to accommodate for people
• Put the best people on the hardest problems
• Empower people to make decisions; execute-and-communicate over ask-and-wait
• Hold people accountable to their results
• Put teams that work together, especially poorly, as close together as possible
• Keep innovation and maintenance together
• Re-org infrequently, well, and involve stakeholders; in a firm of any size the knowledge of how things really work is highly dispersed
• Keep your org relatively flat