Many business leaders often say “Strategy is results.” Which means that strategy doesn’t matter as long as you are producing results. Often, this is because they associate strategy with analysis and execution with getting things done, and they attribute more value to doing than to analyzing.
From that perspective, a strategy is a lofty, self-evident statement such as “Our strategy is to maximize customer value” or “Our strategy is to become the market leader.” Such “strategies” don’t contribute much to producing results. Possibly, they motivate the troops, although even that is highly debatable. On its surface, this view that strategy is less important than execution is hard to refute.
If that’s all strategy is, execution is clearly more important. But any seasoned strategist knows that strategy is not just sloganeering. It is the series of choices you make on where to play and how to win to maximize long-term value. Execution is producing results in the context of those choices. Therefore, you cannot have good execution without having good strategy.
Most everyone would agree that you cannot achieve good results without having good execution; similarly, most would agree that having a good strategy alone is no surefire formula for success. But too many jump to the wrong conclusion that this makes execution more important than strategy. So, at the end “You need a good strategy to have good execution?”.
Yes, having a good strategy alone isn’t enough to win, but your ability to execute well depends on how good your strategy is and how well it’s understood by everyone who makes major decisions for your business. When your business or company is not executing well, take a look at your strategy. Improving it — and your most important stakeholders’ understanding of it — may hold the key to unlocking better execution.
You can read the entire article here: Strategy or Execution: Which Is More Important?
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We all heard the saying: Culture eats strategy for lunch, culture as the most invisible but powerful corporate fabric, is both ‘hard’ competency and ‘soft’ asset of business. Effective execution of a strategy relies on a strong culture.
When does a weak culture ‘eats’ strategy and undermine success?
How shall you be mindful of culture?
What are the strong culture traits, and how can culture, like water, to push the organization toward the right direction and reach the destination?
- Strategy development requires understanding the current environment including the organizational culture
- The right culture is a prerequisite foundation for implementing strategy
- Culture is collective human behavior
- Be mindful of culture with differentiated workforce strategy
- Culture is what happens when the managers are not around
- Cultural behavior would be clearly critical capability to execute strategy.
You can read the entire article here: Culture Eats Strategy for Lunch: How True Is It?