Cisco can move into dozens of new markets only because it's changed its management structure from top-down control by a few executives to decision-making by a series of councils, Chambers said. From 10 people running Cisco a few years ago, today 750 people are heavily involved in decision-making boards and councils and that number will soon grow to about 3,100. However, Chambers warned that collaboration and teamwork -- the processes Cisco has been pushing hard with video and other products -- don't always work. Sometimes command and control is necessary.

"My mistakes have always been when I've moved too slow," Chambers said. "If you wait until all your team agrees, it's probably too late."