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Execution Summary

3 min read ⌚ 

Execution SummaryThe Discipline of Getting Things Done

Having a good strategy is not enough. To succeed, you need to work on your “Execution.”

About Larry Bossidy and Ram Charan

Larry Bossidy has formerly worked as an executive in three major American corporations and is currently chairman of Honeywell International.

Ram CharanRam Charan is an author and adviser to CEOs and senior executives.

“Execution Summary”

The ability to follow your plans and get things accomplished is a discipline that can be learned, just like any other.

The fundamental problem in companies is that leaders do not lead for execution, but view execution like an aspect that they can delegate to others. However, execution is not only a tactical aspect of the business.

On the contrary, it must be engraved in the corporate culture.

To succeed in this endeavor, it is imperative that the leader is personally engaged and committed, and who encourages employees to focus on those processes that make a difference.

Having a good strategy is not enough. Having a strategy is just talk without a delivery. Execution is what brings a strategy to life.

So, when strategies fail, you should look for the problem in poor execution.

Now, in whatever business you are in, you will face many uncontrollable variables.

That is why you need to fully control those segments when you can exercise your power.

The most important control you have is over your people. You are the one who chooses who fills out which role.

So, when you assign roles to your employees, make sure you are giving to job to great executors.

Ineffective people will only hold you back.

Execution happens when the right leaders choose the right time to make the right moves.

That is why, sometimes, creating a healthy execution culture may require making management changes.

The culture needs to become one where people behave in a way that positively affects the corporate objectives.

To reach any goal, a company has to align its operations, strategy, and staff.

A culture changes in three phases.

First, you need to communicate what it is that you want.

Second, plan the change out.

Finally, give rewards to those who succeed to perform in a way that makes the planned changes a reality.

Key Lessons from “Execution”

1.      The Aspects of Execution
2.      Seven Behaviors of Good Executors
3.      Questions to Ask when Assessing Your Company’s Strategy

The Aspects of Execution

    • It is a discipline you practice.
    • It is every leader’s primary job.
  • It should be a “core element” of your corporate culture.

Seven Behaviors of Good Executors

    • “Know your people and your business.”
    • “Insist on realism.”
    • “Set clear goals and priorities.”
    • “Follow through.”
    • “Reward the doers.”
    • “Expand people’s capabilities.”
  • “Know yourself.”

Questions to Ask when Assessing Your Company’s Strategy

    • What is the external environment?
    • Does the company have a full understanding of its existing customers and markets?
    • What are the primary obstacles to rapid growth?
    • Who are the company’s competitors?
    • Does the organization’s strategy balance its short-term and long-term concerns?
  • Can the business realistically execute its established strategy?

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“Execution” Quotes

The leader must be in charge of getting things done by running the three core processes—picking other leaders, setting the strategic direction, and conducting operations. Click To Tweet But if you have to choose between someone with a staggering IQ and an elite education who’s gliding along, and someone with a lower IQ but who is absolutely determined to succeed, you’ll always do better with the second person. Click To Tweet The foundation of changing behavior is linking rewards to performance and making the linkages transparent. Click To Tweet Execution requires a comprehensive understanding of a business, its people, and its environment. Click To Tweet The behavior of a business’s leaders is, ultimately, the behavior of the organization. As such, it’s the foundation of the culture. Click To Tweet

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