Business Execution: Understanding the Fundamentals

This is the first course of the Business Execution series.

Effective Learning

Understanding the Fundamentals * Crafting a Business Strategy that Executes * Linking Strategy to People and Operations * Monitoring and Evaluating Initiatives

FAQs

Execution is a complex business and has various driving factors. High performance companies usually have the skills in place to drive successful strategy execution.

Planning and execution are integrally linked. While planning provides the foundation for strategy and is a time consuming and important task, it doesn't get the job done.

Given that the drivers are so complex, execution of strategy can be a difficult and obstacle-ridden business.

The Science of Better Learning

Use this follow-on activity to assess strategy execution issues within your own organization.

Company leaders should display behaviors conducive to execution to ensure active involvement.

There are three cornerstones of effective strategy execution. The first of these is leadership behavior. You need to secure active involvement of company leaders to ensure effective strategy execution.

Use this learning aid to review the characteristics of a leader at a manufacturing plant.

The second cornerstone of strategy execution involves having people in the right roles. Responsibility in any organization is divided among many different levels, such as leaders, middle management, and the workforce.

Use this learning aid to review the characteristics displayed by a leader, line managers, and the workforce during strategy execution at a national bank.

Whereas leaders are mainly responsible for defining strategy, middle management is responsible for strategy execution. Line managers must understand both the strategy and the workforce assigned to execute it to ensure the right people are in place.

The workforce interacts with customers, suppliers, and each other so employees are in the best position to execute the organization's strategy.

Use this aid job aid to help you on the job to identify the specific roles and responsibilities involved in strategy execution.

The third cornerstone in strategy execution is creating and managing a culture of execution.

It's no good having all tiers of the organizational chart focused on getting things done if the company culture simply doesn't support delivering on plans. The third cornerstone is creating and managing a culture of execution.

Now that you have an idea what makes up a strong culture of execution, you have to determine how to achieve it in your own organization.

Use this learning aid to review how the department store created a culture of execution.

The second step when creating and managing a culture of execution is providing employees with adequate education and allowing time for employees to socialize with coworkers.

The third step to create a strong culture of execution is to communicate. Effective communication leads to genuine understanding of strategy execution.

Use this job aid to help you create or manage a culture of execution.

There are three cornerstones of effective strategy execution. The first of these is leadership behavior. You need to secure active involvement of company leaders to ensure effective strategy execution.

It's no good having all tiers of the organizational chart focused on getting things done if the company culture simply doesn't support delivering on plans. The third cornerstone is creating and managing a culture of execution.

Strategy is executed over time by managers in every level of a company as they commit resources, programs, people, and facilities to the business strategy. So business leaders concerned with strategy execution need to know who controls which resources and who has the most influence on strategy execution.

This is the first course of the Business Execution series.

You think knowing stuff changes the game? You think sitting in a library, stacking up facts like you’re building a Jenga tower, is gonna make you a winner? Man, that’s cute. But life ain't a trivia night. Information alone? It’s worthless. It’s like having a Lamborghini in your garage but you never learned how to drive. You just sit in it, making engine noises. Vroom vroom. People walk by, they see the car, but they also see you ain't going nowhere. You got all this knowledge, all these textbooks, but when life throws a punch, you’re still looking up the definition of "duck." It’s what you *do* with that information that actually matters. Don't be the person with the shiny car and no keys.