Execution

“Innovation” seems to be a current buzzword in business. It’s true that organizations in competitive, global markets must constantly pursue “the next great idea” to relentlessly improve their processes and capitalize on opportunities. In fact many organizations are very good at developing visions, strategic plans and action plans to do just that. Where they fall down is in executing on their plans. Ram Charan, renowned business consultant and author, states in his book, ”Execution”, that 70% of strategic business failures are due to poor execution. And, according to the Franklin-Covey Institute, people cannot execute on important strategic goals because they are caught in the whirlwind of the day-to-day tasks that are required to just keep the company afloat. Stephen Covey, always brilliant in his ability to distill a few key lessons from mounds of information, came up with four disciplines of execution: Focus on the wildly important Act on the lead measures Keep a compelling scoreboard Create a cadence of accountability Focus on the wildly important Covey cautions that we have a tendency to try to do too much. We have so many great ideas, and we want to do them all. This, amidst the “whirlwind” of daily work, is a recipe for failure. The team or organization must focus on one or two of what he calls “Wildly Important Goals” or WIGs. It is a measureable goal that, if achieved, will make all the difference to the organization. It must also be one that has a defined finish line (going from “X” to “Y” by “when”). It’s even better if you can identify a series of sub-goals leading...