You may have heard before that one of the reasons why a strategy doesn’t work is because of a poor execution. In order words, a strategy is great but an execution is not so much. This notion is just wrong. Execution is a key part of a good strategy. When a strategy fails, it’s because the whole thing fails.
I read a book called “Good Strategy/Bad Strategy” by Richard Rumelt. He suggested that good strategy has 3 key components namely – a diagnosis of a situation, a guiding policy, and coherent actions. The last bit, the coherent actions, is the execution. What’s the point of having a strategy if you don’t plan to execute it right?
I just finished the second round of a book called “Who says elephants can’t dance” by Louis Gerstner. And this quote is brilliant – “execution is really the critical part of a successful strategy. Getting it done, getting it done right, getting it done better than the next person is far more important than dreaming up new visions of the future”.