By Tatsiana Straltsova, MSc International Marketing student, The Claude
Littner Business School, University of West London
Last week in class we discussed the
importance of keeping promises in external and internal marketing. The second
one shouldn’t be underestimated, because sometimes the whole reputation of a
manager can get under threat, if their promises don’t work out and the proposed
strategy is not implemented.
The book “Execution: The Discipline
of Getting Things Done” (2002) deals a lot with this topic. Written by an
Indian-American business consultant Ram Charan who is called ‘the most
influential consultant alive’ by the Fortune magazine, it claims that
“strategies often fail because they aren’t executed well”. The main thought
here is – if you make a promise, you have to know how to manage it, you have to
be able to deliver a result, you have to EXECUTE.
What is execution in a business context? Referring to the book of
Ram Charan once again, execution is “a specific set of behaviors and techniques
that companies need to master in order to have competitive advantage”. In other
words, it is a system of measures as a part of a company’s strategy in order to
reach strategic goals. So it is important to have a strategy, but it is even more
important to know the way for its implementation. As a manager you can create
very ambitious plans, but they are worth nothing if the company is not able (or
maybe just doesn’t know how??) to meet them. In this regard two other elements
of execution should be taken into account: people and operations.
What steps should be followed to
assure good execution? Ram Charan selects seven main ‘Building Blocks of
Execution’:
·
Know
your PEOPLE and your BUSINESS
·
Insist
of REALISM
·
Set
clear goals and PRIORITIES
·
Follow
through
·
REWARD
the doers
·
EXPAND
people’s capabilities
·
KNOW
yourself.
And, of
cource, enjoy your business! Passion for achieving common goals is contagious.
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