In the October 2007 Newsletter
Is Work All About Money? / Is Strategy or Execution More Important?
Is It All About the Money?
Why are you working? Are you working only for the money or something else? Read my newest blog entry at www.radishsprouts.typepad.com and, if you like, share your own thoughts and experiences. NO, it's not only about the money!
Is Strategy or Execution More Important?
What's more important to you and your business the proper strategy or the proper execution of the strategy? How well is your team executing? What tools are you using to help your team execute more effectively?
If you're a Director or above in an organization, please take this one-minute survey with Seven Simple Questions to gain insight on how your organization is performing on strategy and execution. It's provided by one of my clients, The Five Star Institute, which helps firms execute their strategies. You may be surprised by your findings! (Note: your browser must allow cookies for the survey.)
In a meeting I had last week, Ken Zelie, Northern Colorado Regional President of Wells Fargo, summed it up this way, "I'll take the third best strategy and execute it well over the best strategy not executed properly. We are not interested in better strategy."
Here's how Larry Bossidy and Ram Charan, authors of the New York Times bestselling book, Execution, weigh in:
"Execution ... is the missing link between aspirations and results. As such, it is a major indeed, the major job of a business leader. If you don't know how to execute, the whole of your effort as a leader will always be less than the sum of its parts."
This is why my own work with clients includes not only strategic planning but also ongoing coaching to ensure effective execution. As a leader, your focus must also be on execution.
I was asked to facilitate a 2-day off-site strategic planning session for one of my clients. They discerned that they needed to make certain changes to their programs, and they established these changes as one of their top five strategic initiatives for the quarter. Their director of programs was identified as the driver. Unfortunately, she never executed on the initiative, and management did not hold her accountable until most of the quarter was past. The entire organization suffered.
Now, management realizes the price they paid both for lack of execution and accountability, and also for keeping a 'C' player on the team. While they're now executing more rigorously, they're also using the "topgrading" approach to address the latter issue.
You can learn more about topgrading your team at the workshop below and see introductory material in my July 2007 Newsletter.
Upcoming Public Events
Tuesday, November 6, 2007. Workshop on "Topgrading: Hire 'A' Players," with Geoff Smart, Ph.D., in Denver. For more information, visit www.gazelles.com/executive_training_topgrading.html and register with Theresa (theresa@TMSworld.com) so you get a special bonus.
Execute Effectively and Bring Your Firm to New Heights in Profit, Productivity, and Passion
Theresa M. Szczurek, Ph.D.
P.S. Pass it on. Feel free to share this newsletter with your colleagues.
CEO, Entrepreneur, Consultant & Business Coach, Speaker & Author
Technology and Management Solutions, LLC