Thursday, January 03, 2008

Do we over-emphasize strategy and ignore execution?

There is so much emphasis on strategy in business today. Often it is flawed. Sometimes this is because it is based in incorrect or incomplete knowledge, sometimes because it is based on faulty logic. Yet, most of the business failures may be rooted in inadequate execution of strategy rather than the strategy itself. This applies whether the strategy is for new products, acquisition, expansion to new geography or re-alignment of product markets.
Business schools find it difficult to teach execution. Most corporations do not train managers in it effectively. Yet, there are principles of execution which can be learned. However, they are best learned by a combination of experience and process.

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