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Strategy Vs Execution Debate
Various business leaders are split on what really matters between business strategy and business execution. Some are for the “results do not lie” (the execution) whereas some are proponents of a “super plan” and everything else falls into place (the strategy). Many proponents of execution associate strategy with analysis and execution with getting things done/ implementation. By so doing they place more value on execution than on strategy. However, Strategy involves more than analysis or statements that ought to be. Strategy involves among other things, series of choices that an organisation makes (choices on where and how to play) so as to come out victorious/successful in the long term. Strategic skills allow a leader to create policies, establish direction, and determine how to effectively allocate resources to achieve a larger goal. On the other hand, execution involves producing results in the context of the proposed choices. This implies that one cannot have a very good execution in isolation, that is, without a very good strategy. Thus, execution is the tactical, practical skills needed to put a plan into motion. Where strategic thinking allows a leader to craft the future of an organization by making broad decisions, the tactical skills of execution are required to bring the vision to life. In light of this, successful leaders balance strategic thinking and tactics. Building a strategy that embodies your organization is great, and greater if it is aided by chops to turn that strategy into an actionable plan. Many great visions fall apart before they even get off the ground because of a lack of planning. Successful leaders are able to unpack the strategic vision, understand the objective or goal, and break it down into operational pieces. They are able to come up with action plan and realistic resource allocations in order to achieve the desired outcome. When a leader is balanced in both areas, strategic thinking takes tactical realities into consideration and those very realities are driven by the strategic plan. Although it’s critical for organizational leaders to be able to develop strategy, their skills are irrelevant if they can’t follow through. An agile leader is someone who is a pro at crafting and executing organizational strategy. This involves breaking the larger vision down into actionable steps, establishing a plan to track progress, ensuring the right stakeholders are placed in the right roles, and remaining flexible to address any challenges or priority shifts that come up. Once the strategy is set in motion, it’s important for a leader to be able to change tactics not strategy to achieve the most successful and impactful results as competing priorities come in. Strategy and business execution are both vital to any organization’s success, and leaders must be ready, willing, and able to craft the vision and make it actionable. Becoming strategically and executionally excellent is the answer to giving your organization a competitive edge, which can improve engagement and drive results.
Date: 2019-01-29




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