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Tuesday, September 12, 2006

Principles of Strategy and Execution

Principles are the fundamental essences out of which and from which all things are and exist.

Some fundamental principles about strategy and execution:
  • Making strategy work is more difficult than the task of strategy making
  • A focus on making strategy work pays major dividends.
  • Strategy execution deals with the managerial exercise of supervising the ongoing pursuit of strategy, making it work, improving the competence with which it is executed, and showing measurable progress in achieving the targeted results.
  • Strategy and execution are independent - yet interdependent.
  • Execution takes much longer than strategy formulation.
  • Execution involves many more people than strategy creation.
  • Execution is a process, not a single step.
  • Less than 10% of strategies effectively formulated are effectively executed.

Click here for more thoughts on What is Strategy...or over here at the Strategy Wiki.

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