Most often today the difference between a company and its competitor is the ability to execute. If your competitors are executing better than you are, they're beating you in the here and now, and the financial markets won't wait to see if your elaborate strategy plays out. So leaders who can't execute don't get free runs anymore. Execution is the great unaddressed issue in the business world today. Its absence is the single biggest obstacle to success and the cause of most of the disappointments that are mistakenly attributed to other causes...
Here is a fundamental problem: people think of execution as the tactical side of business, something leaders delegate while they focus on the perceived "bigger" issues. this idea is completely wrong. Execution is not just tactics - it is a discipline and a system. It has to be built into a company's strategy, its goals, and its culture. And the leader of the organization must be deeply engaged in it. He cannot delegate its substance. Many business leaders spend vast amounts of time learning and promulgating the latest management techniques. But their failure to understand and practice execution negates the value of almost all they learn and preach. Such leaders are building houses without foundations.
Execution: The Discipline of Getting Things Done by Larry Bossidy & Ram Charan with Charles Burck. 2002. Crown Business, NY, NY. p. 5,6
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