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Execution
Operational execution represents the day-to-day realization of the organization’s business strategy; the physical manifestation of leadership’s decisions regarding what the organization will do and how those activities will be performed. To achieve real success, however, these activities must be implemented efficiently and effectively.
Efficient, effective execution minimizes operational costs thereby enhancing bottom line results. Efficient execution occurs when activities performed use the least amount of financial, personnel, material, equipment, and time resources possible. Effective execution occurs when the activities performed most directly support achievement of the organization’s goals and those activities not directly supporting goal achievement are minimized and, when possible, eliminated.
Based on materials developed by StrategyDriven’s business strategy execution consulting group, the Execution forums are dedicated to discussing the principles of effective and efficient day-to-day implementation of the business’s strategy within the following topical areas:
- Tactical Execution
- Human Performance Management
- Portfolio Management
- Program Management
- Process Management
- Project Management
- Procedure Development
- Budget Management
- Business Operations Management
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But the market is complex, comprised of multiple overlapping environments. Shaping this aggregated external environment are the economic, technological, political, and sociocultural forces exerted by shareholders, customers, competitors, government entities, suppliers, employees and labor unions, trade associations, creditors, and special interest groups. The highly interrelated nature of these environments means that a change in one will have a rippling impact across all of the others. Successful leaders remain ever vigilant to these changes and exert the flexibility necessary to bend these changes into opportunities while remaining faithful to their organization’s overall vision, mission, values, and goals.
The cost of employee distraction resulting from acts of incivility is staggering and yet goes largely unrecognized. There is no financial statement line item, no general ledger entry, and no budget explicitly set aside for this expense that can cost an evenly modestly sized company hundreds of thousands of dollars each year.
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