The Importance of Execution

It has often been stated that Leadership is about providing a vision, a guiding light to take forward an organization. That vision is the key focus. However with the global economy dependent increasingly on the provisioning of services, (what with the global economy in 2011 of $ 78 trillion, 63% was from services) and in an era where innovation is just a six month advantage, what is most important is the ability to provide products and services in the most efficient manner and at most optimum cost.  Leadership is not about just providing a vision but the ability of ensuring Execution.  

However this is not something which has become apparent overnight. An interesting story by Tom Peters goes as follows:  

One fine morning a man approached the great banker, JP Morgan, held up an envelope, and said, “Sir, in my hand I hold a guaranteed formula for success, which I will gladly sell you for $25,000.”  

“Sir,” JP Morgan replied, “I do not know what is in the envelope, however if you show me, and I like it, I give you my word as a gentleman that I will pay you what you ask.”  

The man agreed to the terms, and handed over the envelope. JP Morgan opened it, and extracted a single sheet of paper.  He gave it one look, a mere glance, and then handed the piece of paper back to the gentleman and went on to pay him the agreed-upon sum of $25,000. What was written on the paper?

 1. Every morning, write a list of the things that need to be done that day.

2. Do them.

“I saw that leaders placed too much emphasis on what some call high-level strategy, on intellectualizing and philosophizing, and not enough on implementation. People would agree on a project or initiative, and then nothing would come of it.” —Larry Bossidy & Ram Charan - Execution

The bottom line is that the bridge between the vision and the path is full of gaps in implementation. In the brilliance of the plan, enough light is not shed on the actionable parts. The key goal is to be realistic and always follow through.  In the words of Larry Bossidy and Ram Charan, “Realism is the heart of execution.” 

Do not leave for tomorrow what can be done today. Within the necessity of ensuring execution lies the importance of ensuring the expansion of people’s capabilities and implementing repeatable processes enabling efficient work.

“Execution is a systematic process of rigorously discussing how’s and what’s, tenaciously following through, and ensuring accountability.” —Larry Bossidy & Ram Charan