I personally don’t like the word ‘execute.’ It is negative. It implies a very unforgiving downside. However, get used to it. You’ll be hearing it much more often.
A little story may help explain the term. Most consultants, managers, and executives are fond of planning. Planning is high level and strategic. Planning is antiseptic. Planning is theoretical and hypothetical. Planning is removed from operations. Planning is removed from people. Planning is fun.
In contrast, execution is almost the opposite. Execution is ground level and tactical. Execution is real and often tied directly to cost reduction and profitability. Execution is operational. Execution is emotional. Execution is through people and is very personal. Execution can be dirty and not so fun. What do you think is more valuable to executive management: planning or execution? Duh? Planning is a cost center. Execution is a profit center.
Managing, organizing, and commercializing knowledge is key to competitiveness. It’s all about execution and creating value and wealth. In our digital world, new ideas and knowledge dominate the value adding product design, process improvement, and project completion mix. And, commercializing and monetizing the innovation through flawless execution is the new paradigm.
The flip side of execution management is knowledge management. Ariel de Geus, a management strategist, once said “the ability to learn faster than your competitors may be the only sustainable competitive advantage.” Information and knowledge add value. Knowledge allows the smartest organization to deliver products and services faster and better than its competitors do.
Life Lesson Earned: ‘Do what you say and say what you do’ is now a management and workplace mantra. What are the critical success factors or practices that make you successful, enhance your personal brand and enhance your productivity? Chances are your productivity is based on how you manage customer, time, quality, communications, risk, and performance commitments.