Strategy without execution is pure hallucination. It's not about the business idea that counts, but its execution. In fact, execution is probably one of the biggest competitive advantages that companies typically overlook.
Time are spent on looking for the next "great idea". Meetings are all talk or analysis or planning, with no decisions made. Obsolete procedures are still used, which in turn slow down execution. People at the bottom of hierarchies are afraid to ask even when they know what to do and can take action quickly.
If the above scenario is part of your corporate culture, it is time to redefine your role as the Chief Execution Officer.
How do smart leaders translate strategy into execution? In the article by Harvard Business Review, the right way is to:
1. Get the right people in the right place
2. Communicate and share the strategy with your workforce
3. Establish strategic performance feedback (limit to 15 - 20 measures)
Try to follow The 4 Disciplines of Execution ...
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