There are several ways to measure execution in an organization. One can look at the profit margins, promotions, and other key performance indicators. Leaders can also monitor deviations from desired tolerance levels in these areas and take swift action to close the gap. Additionally, the effectiveness of leaders in actively leading, assigning tasks, following up, and promoting and rewarding people who execute can also be a measure of execution. Finally, the turnover rate of CEOs due to lack of execution can also be an indicator of the organization's execution capability.
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How do you translate strategy into results? Execution is both an organizational culture and a specific set of behaviors. Leaders must be hands-on and...
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The process to create an execution culture is similar to the six sigma process for continual improvement. Leaders constantly look for deviations from desired tolerance levels in execution across areas like profit margins to promotions. They swiftly close the gap and raise the bar for the entire organization. Like Six Sigma, execution works only when people practice it continuously. Leaders who execute do not preside. They actively lead. The leader who presides takes pride in a hands-off style and does not deal with core issues or confront people responsible for poor performance. In contrast, those who actively lead are personally involved in the critical details of execution. They ensure people understand organizational priorities, assign tasks, follow up, and promote and reward people who execute. Lack of execution can cost CEOs their jobs. In 2000 alone, over 40 CEOs from the top 200 companies on the Fortune 500 list were removed by their board because they could not execute what th...