Execution : The key to make any strategy successful

Strategy is nothing but the plan as to how to operate in a competitive world to be a differentiator by solving the problems / fulfiling  the  needs and in lieu of that being able to get a share of the customer's spend .

The whole process which needs identifying the need , building the product / service , creation of structure , raising capital , building marketing team and communication , sales process etc is divided into two parts. 
The first part is creating  the Road Map which is the STRATEGY 

and the second is the detailed Action plan with time lines and responsibilities with actions and what needs to be done which is EXECUTION.

 Execution on the other hand is to actually do what is planned as per the strategy and if need be provide timely inputs to refine/amend the strategy till it is perfect. ( in reality however strategy is ever evolving)

If strategy is deciding what to do, execution is all about making it happen. It’s the follow through.

The main requirements for successful execution are:

1) Time defined Executable Plan that are supportive of the overall strategy;

2) Clear Accountability of the leaders and their team in the scheme of the things

3) Established method of measuring progress toward those goals on a regular basis

4) Feedback mechanism with a bottom-ups approach to refine the strategy or execution      or both as per the real world requirements.

For a good execution it is most important that the company culture allows a systematic way of exposing reality and acting on it rather than sleeping over it and not adapting to changes.Most organizations don’t face reality very well. It’s the manager’s job to force his organization to face reality, and then to deal with it.

It is pretty easy to diagnose whether an organization has a strong culture of execution. It’s usually obvious by attending a few meetings. If the meeting consists of a long Power Point presentation, filled with slides showing only the actual achievements without comparing it against plan and providing no reasons for not being able to explain t he reasons for not meeting the plan it is evident that the execution mind set is missing. Another indicator is when teams do not asking enough questions , challenging the status quo and giving ideas/suggestions no matter how weird they may sound to the presenting team there is every reason to be concerned. Thirdly if these meetings get over without the follow up action plans then also it becomes clear that execution is a challenge.

On the other hand, if the presentation is short and to the point; if the presenter clearly highlights both successes and failures; if others feel free to question and debate the presentation; if there is a common understanding among everyone in the room on goals and timelines, and if all leave the room with a clear sense of what needs to happen next and who needs to do it, then you are likely witnessing a strong culture of execution.

A team which believs in execution and is capable of the same always

1) Understand the business plan well and seek clarity when in doubt

2) The leader and the respective heads make an actionable plan with defined time lines discussing with the team asking them if it is workable and the way they will approach it .

3) Plan to achieve more than what the real plan is to take care of uncontrollable factors like  sales getting effected due to climate , cost increasing due to surge in raw material etc.

4) Prepares Plan B or even Plan C

5) Formulates and does a rigourous measurement of the plan periodically and  understand real world problems , assess whether it is external or internal , and do the course corrections.