When companies fail to deliver on their promises, the most frequent explanation is that the CEO’s strategy was wrong. But the strategy by itself is not often the cause. Strategies most often fail because they aren’t executed well. Things that are supposed to happen don’t happen. Either the organizations aren’t capable of making them happen, or the leaders of the business misjudge the challenges their companies face in the business environment, or both.
According to Dr. Ram Charan, consistent practice of the discipline of execution results to an understanding of how to link the three core processes of any business together: PEOPLE, STRATEGY and OPERATIONS. Eight key words from his presentation helped paint a picture of what Effective Execution means: these words were coach, teams, engagement, simplicity, clarity, critical steps, milestones and accountability.
Dr. Ram Charan imparted a new understanding of the fact that execution is first and foremost the job of the Chief Executive.
The CEO and indeed every leader in the organization must roll up their sleeves and get their hands dirty. They must be deeply engaged in it, they cannot delegate its substance.Most often, the difference between a company and its competitor is the ability to execute. If your competitors are executing better than you are, they’re beating you in the here and now, and the financial markets won’t wait to see if your elaborate strategy plays out.
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