"Great execution is the platform for great innovation," said Thomas Rotherham, Grant Thornton's U.S. managing partner of client services. "Management's challenge is to achieve a balance between execution and innovation, both of which require different skill sets and competencies."
Business leaders acknowledge that they must face special challenges when juggling innovation and execution.
- Four out of 10 business leaders note these challenges: balancing innovation and execution resource allocation (41%); inspiring innovation without compromising on the routine and rigor of execution (40%) and building organizational capabilities accordingly (40%).
BOTTOMLINE: The ability to execute strategy is a key enabler of innovation. It is the balance between strategy and operations that enables organizations to concentrate on innovation.