Technical jargon: What does Holacracy mean?

The new organization, Holacracy, is not a pyramid as we know it from the hierarchy, but a circle.This word is not a remnant from a vacation in Spain, but the trend word in the corporate world par excellence. But what exactly does this holacracy mean? The end of hierarchies in organizations: no more, no less. "Really?" say the left, the alternative and the autonomous, "Oh dear!" say the right. After all, the former practised this organizational concept in their collectives and cooperatives, then dogmatically defended it for decades and eventually gave it up in frustration. On the other hand, the top management bodies of established, mostly bourgeois Swiss companies celebrated the concept until they drove their companies to the wall with blind unanimity or earned a golden nose by selling them off.The old idea of grassroots democracy has lost its appeal on both the left and right in recent years, but "integrative decision-making", as the term is also known, has recently experienced a boom. As a form of organization, it is sweeping through management like a tornado as they seek to make themselves and their organizations fit for digitalization. Initially, it was only small start-ups that adopted the organizational system to make agile working possible at all, followed by digital agencies. Today, even large companies are talking about it and have started pilot tests in individual departments. No wonder some old-school agency managers with their hierarchically organized squad of CCOs, CDs, ADs, GDs etc. are somewhat perplexed when their counterparts on the client side proudly proclaim that they are organized holocratically.