Great Execution

June 2006

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Preface
 Execution is doing things  Great execution delivers results by:
 Doing the RIGHT things - actions that:
Build the brand Increase customer satisfaction and loyalty Increase employee satisfaction and loyalty Increase product, service quality Differentiate from the competition Reduce cost, expense Improve long-term profit Increase shareholder value

At the RIGHT time

Ahead of the competition Before a problem arises When the market is ready When the company is ready

In the RIGHT way

Quickly and efficiently Consistent with values, culture With broad support, sponsorship With courage, leadership

Great Execution
 Execution and Results  Characteristics  Steps to Leading Execution  Final Thoughts and Recommended Reading

Execution and Results

Execution and Results

 Execution is a systematic process of rigorously discussing hows and whats, questioning, tenaciously following through, and ensuring accountability. In its most fundamental sense, execution is a systematic way of exposing reality and acting on it.

Business execution is about getting things done. The best operational strategies in the world are not worth the paper they are written on if they are not carried out. By implementing a system of questioning, analysis, and follow-through, business execution is what meshes strategy with reality, aligns teams with goals, and helps organizations achieve results. It links the three critical elements of every business: people, strategy, and operations.

Execution: The Discipline of Getting Things Done Larry Bossidy Ram Charan, Charles Burck
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Execution and Results

Examples:  A world-class ballet performance  A championship football team in action  A renowned chef (or restaurant)  A successful military action  A virtuoso jazz trio  A flawless gymnastics performance  A great comedy routine

Execution and Results

Great businesses have great execution across the board
in the strategic agenda, e.g.
Brand positioning Sourcing strategy Production strategy Distribution strategy

... in the operational agenda, e.g.

Manufacturing Supply chain management Inventory management Distribution channel management

in the people agenda, e.g.

Human capital needs assessment Talent evaluation and succession Employee development Performance management and compensation

Characteristics

Characteristics
Companies that execute well
 Enable robust dialogue:
  

Safe, open, candid, and informal Challenging and probing, but grounded in realism Focused on how to make things better Made swiftly, but not haphazardly Based in fact Well-defined and well-documented Ownership for results is clear and well-documented Use measurable criteria for success Milestones for progress are established in advance Honestly assess progress against accountabilities Take corrective actions as needed Offer help and ask for help as needed Reward performance, tied to results
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Set directions and make decisions that stick:

  

Establish accountabilities:
  

Follow through:
   

Characteristics
Execution is further enhanced by:
 Information systems and processes that
   

Support informed dialogue Provide data for decision-making Tie accountabilities to business performance Provide a means to trace and follow through

 Organization structures that

 

Clarify roles and accountabilities Put the right people in the right roles

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Characteristics
How does great execution look
  Demonstrates continual, observable progress Every step adds value
 

Little or no wasted motion plan the work and work the plan Reviews/approvals are not gateposts, but critical enablers that accelerate progress Anticipates most obstacles Deals gracefully with the unforeseen

Unflappable
 

  

Achieves targeted results, on time, on budget no excuses Appears effortless even when it isnt Looks like fun

and feel?
   Confident and reliable Programmatic and repeatable Feels like winning
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Steps to Leading Execution

Steps to Leading Execution

 Begin with an absolute focus on results
 Measure the right standards and increase the rigor with which you measure them  Constantly take action; results wont improve without it

 Take complete and personal responsibility for your groups results

 Clearly and specifically communicate expectations and targets to the people in your group  Ensure that your subordinates and colleagues perceive that your motivation for being a leader is the achievement of positive results, not personal gain  Know and use every group members capabilities to the fullest, and provide everyone with appropriate developmental opportunities  Increase the pace or tempo of your group  Model the methods and strive for the results you want your group to use and attain
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Steps to Leading Execution

 Experiment and innovate in every realm under your influence
 Look constantly for new ways to improve performance  Use results as the litmus test for continuing or implementing leadership practices

 Determine what you need to personally improve your results

 Seek feedback from others in your organization  Engage in developmental activities and opportunities that will help you produce better results

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Final Thoughts/Recommended Reading

Final Thoughts
 Connect leadership attributes to results  Define desired results  Invest in human capital for employee results  Create capabilities for organizational results  Build equity for customer and investor results  Leaders of great execution build other leaders

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Recommended Reading
 Books
  

Execution: The Discipline of Getting Things Done (Bossidy, Charan, and Burck; Crown Publishing, 2002) The Knowing-Doing Gap: How Smart Companies Turn Knowledge into Action (Pfeffer and Sutton; Harvard Business School Press) Results-Based Leadership (Warren Bennis (forward), Dave Ulrich, Jack Zenner, Norman Smallwood, Harvard Business School Press, 1999)

 Articles
   

Execution Without Excuses (M. Dell and K. Rollins, March 2005; Harvard Business School Publishing) Three Keys to Effective Execution (Melissa Raffoni, February 2003; Harvard Business School Publishing) What Really Works (Nitin Nohria, William Joyce, Bruce Roberson, July 2003; Harvard Business School Publishing) Beware the Busy Manager (Heike Bruch, Sumantra Ghoshal, February 2002; Harvard Business School Publishing)

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