"Strategy is now an commodity. The Difference between organizations if now Execution" ~ D ShivKumar (approx words NOT verbatim)
As you may or may not be aware, PepsiCo got a new CEO 30 weeks back in D Shivkumar. In one of my privileged interactions with him, he was stressing on the importance of execution and why strategy's importance is increasingly getting diminished.
Its something we all intrinsically realize at a sub conscious level that a good strategy + Bad execution < Bad strategy + Good execution. In the latter you can course correct and always win big. In the former you are always doomed unless your competition does worse.
So what is Execution? It has several definitions but the one I believe most strongly is that "Execution is the art of getting done what you wanted, right the first time".
Here is OPERATIONALLY what I feel you need to get right to get Execution right:
- Strategy needs to thorough. It needs to consider the entire journey upto the last mile.
- It needs to be absolutely clear to the last pair of hands which are going to execute your strategy
- It should be measurable and track-able by the last pair of hands
- There is should NOT be any scope for simplification/data processing for the last pair of hands. It should be as simple as print the page and do it.
- Execution guidelines, driven by 'Executer' insights, should suggest/recommend the path of least habit change. Otherwise energy will be spent in trying to change the habits rather than Execution.
However CULTURALLY we need to ensure that the last pair of hands don't try to play the role of a strategist. Once the strategy is set by the Strategy guys and translated into Field execution guidelines by the middle managers, others need to go DO IT and not 'plan' further. So discipline is something that can make and break your Execution.
All this is easier said than done. But how often are you paid well for doing something easy?
