Holacracy is an alternative organizational structure to traditional hierarchy. It distributes authority across roles rather than people, allows roles and responsibilities to be redefined rapidly based on ongoing work, and makes decisions locally through transparent rules that apply to all. Key aspects include having a hierarchy of purpose over people, dynamic roles, distributed authority, and rapid monthly iterations to update the organizational structure in each circle or team. Companies that adopt Holacracy aim to be more adaptable, self-managed, and find satisfaction through unpredictable outcomes rather than traditional rewards and controls.