Comments on: Strategy Definition or Strategy Execution… http://www.successfactors.com/blogs/business-execution/strategy-definition-or-strategy-executionae/ Execution is the Difference. Thu, 04 Feb 2010 07:42:47 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Robin http://www.successfactors.com/blogs/business-execution/strategy-definition-or-strategy-executionae/comment-page-1/#comment-672 Robin Thu, 26 Nov 2009 01:57:55 +0000 http://www.successfactors.com/blogs/workforce-performance/?p=323#comment-672 Earlier this year the Wall St Journal in the United States published an article “CEOs Debate: Execution vs. Strategy”, January 29, 2009. The article asked CEOs to choose between the two and stated arguments for both being more important than the other and that, “many CEOs rejected the question as a false choice.” The significant observations from the Wall St article is that execution or implementation (the two words are synonymous) has arrived and is becoming part of the way we do business. It is now 10 years since Fortune magazine published the oft-quoted cover story, “Why CEOs Fail,” that explained, “Organizations fail to successfully implement strategy not because of bad strategy but because of bad execution.” It’s seven years since, Ram Charan followed up this article by teaming up with Larry Bossidy to write Execution: The Discipline of Getting Things Done. The book introduced the field of execution to business leader and why execution is important. Six years ago, I wrote the best selling book Bricks to Bridges: Make Your Strategy Come Alive and published our research that 9 out of 10 times strategy fails and a framework for success. Implementation has arrived. I agree currently the pendulum has swung towards execution as leaders grasp to understand this new field of business. According to recent Monitor research, strategy execution is the most important issue to the executive suite. In 2007 The Conference Board survey reported that executives' number one concern was "excellence in action" and their number three concern was "consistent execution of strategy by top management." Most leaders do not need to be convinced on the importance of execution. Subconsciously they knew past approaches were flawed. The current literature has provided the numerical arguments to support the emotional ones. Execution is a business differentiator. Earlier this year the Wall St Journal in the United States published an article “CEOs Debate: Execution vs. Strategy”, January 29, 2009. The article asked CEOs to choose between the two and stated arguments for both being more important than the other and that, “many CEOs rejected the question as a false choice.”

The significant observations from the Wall St article is that execution or implementation (the two words are synonymous) has arrived and is becoming part of the way we do business.

It is now 10 years since Fortune magazine published the oft-quoted cover story, “Why CEOs Fail,” that explained, “Organizations fail to successfully implement strategy not because of bad strategy but because of bad execution.” It’s seven years since, Ram Charan followed up this article by teaming up with Larry Bossidy to write Execution: The Discipline of Getting Things Done. The book introduced the field of execution to business leader and why execution is important. Six years ago, I wrote the best selling book Bricks to Bridges: Make Your Strategy Come Alive and published our research that 9 out of 10 times strategy fails and a framework for success. Implementation has arrived.

I agree currently the pendulum has swung towards execution as leaders grasp to understand this new field of business. According to recent Monitor research, strategy execution is the most important issue to the executive suite. In 2007 The Conference Board survey reported that executives’ number one concern was “excellence in action” and their number three concern was “consistent execution of strategy by top management.” Most leaders do not need to be convinced on the importance of execution. Subconsciously they knew past approaches were flawed.

The current literature has provided the numerical arguments to support the emotional ones. Execution is a business differentiator.

]]> By: T. Welch http://www.successfactors.com/blogs/business-execution/strategy-definition-or-strategy-executionae/comment-page-1/#comment-648 T. Welch Fri, 20 Nov 2009 17:05:27 +0000 http://www.successfactors.com/blogs/workforce-performance/?p=323#comment-648 So, "Business Strategy" provides 3X more hits than "Business Execution?" Yet execution is far more demanding of time and resources than coming up with a strategy. Good execution means we have to spend time implementing, monitoring, and probably most important --following-up. Perhaps it is because we are overwhelmed with day-to-day demands that the plan gets left tucked away in some file, to be dealt with when we have the time. Getting the "plan" into action is critical. Tracking progress and making tactical changes without changing the plan keeps you cutting-edge. Strategic planning technology can help get everyone on the same page, with daily tasks as well as ongoing projects. T. Welch ManagePro.com So, “Business Strategy” provides 3X more hits than “Business Execution?” Yet execution is far more demanding of time and resources than coming up with a strategy.
Good execution means we have to spend time implementing, monitoring, and probably most important –following-up.
Perhaps it is because we are overwhelmed with day-to-day demands that the plan gets left tucked away in some file, to be dealt with when we have the time. Getting the “plan” into action is critical. Tracking progress and making tactical changes without changing the plan keeps you cutting-edge.
Strategic planning technology can help get everyone on the same page, with daily tasks as well as ongoing projects.

T. Welch
ManagePro.com

]]>