Ray Dalio explains idea meritocracy in this Ted video.

Idea meritocracy seems like the best way to go. The best ideas should drive the company’s decisions. When you have the right talent in the right place, you need to trust their judgements and have the humility to accept that as a leader you won’t have the best ideas all the time. Embrace collective decision making.

Would you let your ego drive strategic decisions or let the best idea that came from the team discussion steer the company? Choose wisely.