What is common between the giants like Apple, Google, Dell, Amazon or Uber, they are custodians of exemplary strategy execution that is either very challenging for other companies to follow or copy or are simply unattainable by competition.
Execution is the result of thousands of decisions or actions taken by employees daily as per the information they hold or as per their own self interests. Brilliant strategies, breakthrough products or cutting edge technologies can put a company on the competitive map or one may lead the pack but only flawless or rock solid execution can keep the companies there. It takes years of consistent execution for a company to achieve sustainable competitive advantage. That explains why there is no second Uber or an Amazon, Google or an Apple. Michael Dell claims that the company’s success goes beyond its famous business model. The fact that high expectations and a disciplined, consistent execution are embedded deep in the company’s DNA.
Incidentally, majority of companies admit they are not so good at execution. It is observed by Industry analysts that three out of every five employees in an organisation rated their organisation as weak in regard with translating important strategic and operational decisions into action. This ability to spring into swift action as soon as decisions are taken is the core difference that makes market leaders and make them stay where they are at the top - the quality of execution that is extremely difficult for competition to copy even though strategies may be easy to borrow or lift.
While I will have a lot to write and discuss about execution and let us assume I may be able to delve into whole of the subject which is quite large, I am happy to share at this point, essentials of creating an execution culture. Here they are:
SET TANGIBLE TARGETS:
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