“Plans are only good intentions unless they immediately degenerate into hard work.” – Peter Drucker
This insightful quote encapsulates the essence of execution in leadership. While leaders often dream, set visions, and inspire, the most crucial aspect of leadership is the ability to execute these plans effectively. In our previous discussions, we explored essential leadership qualities: love, enthusiasm, appreciation, and growth mindset. Now, let us delve deeper into the fifth keyword – execution.
Defining Execution
EXECUTION is the act of turning strategies and plans into tangible results. It involves prioritising tasks, managing resources, and navigating obstacles to achieve set objectives. However, execution is not merely about completing tasks; it’s about achieving desired outcomes through focused efforts and collaboration. When leaders execute well, they enhance their credibility and foster a culture of accountability within their teams.
But why is execution so vital? First, let us consider these critical aspects:
1. Bridging the Gap
Execution serves as the bridge between strategy and results. A brilliant strategy is worthless if it remains just that—a plan. Without execution, even the most innovative ideas fester in obscurity.
2. Accountability
Good execution fosters a culture of accountability. When leaders execute effectively, they set clear expectations and responsibilities for their teams, laying the groundwork for a committed workforce.
3. Measuring Success
Companies often rely on tangible results to gauge performance. Execution is essential for measuring success through KPIs (Key Performance Indicators) and other metrics, allowing leaders to adjust their strategies based on actual outcomes.
4. Adaptability
In our rapidly changing world, execution allows leaders to adapt their strategies based on real-time results. Leaders who execute well can pivot quickly when necessary, ensuring that their organizations remain competitive.
As the first female CEO of General Motors, Mary Barra has led significant changes in the company. Her execution of a comprehensive plan to focus on electric vehicles illustrates her commitment to innovation and sustainability. This bold vision has guided GM into a new era, positioning it as a leader in the automotive industry’s future.
A study conducted by the Global Leadership Forecast revealed that companies that excel in execution have an impressive 50% higher revenue growth compared to their competitors. Additionally, 74% of executives stated that they struggle with translating strategies into action, highlighting the critical need for effective execution in leadership.
Esther Law and Healthcare Leadership
My experience serving as the Group CEO of Cheng Mei Health Care Group and Executive President of Hainan Cancer Hospital, a 1000-bed hospital, resonates with these principles of execution. In navigating the complexities of healthcare management, the ability to execute our strategies effectively has been paramount.
During my time, we faced numerous challenges, from resource allocation to training staff. By fostering a culture of accountability and enhancing communication within our teams, we successfully increased patient satisfaction ratings by 30% within a year. This transformation was not simply a stroke of luck but the result of our commitment to excellence, the dedicated execution of our operational strategies, all while keeping our vision of quality healthcare at the forefront.
Argenis Angulo and JCI Leadership
Reflecting on my tenure as World President of JCI, I can confidently say that success hinged on meticulous execution. With operations in over five thousand cities worldwide, there was no room for complacency. I was acutely aware that I had just one year to fulfill our ambitious action plan. This heightened awareness of our time constraint meant that every single task was crucial.
A small oversight could easily derail months of hard work, something I had poured my heart into for two decades. Each day, I approached my responsibilities with a sense of purpose, never underestimating the potential impact of even the simplest actions. It was fascinating how clarity about our core mission transformed routine tasks into meaningful contributions toward our goals.
The pressure was palpable, but that perspective reinforced my focus and commitment. Every step mattered, and that awareness made the journey all the more rewarding. When I look back, I feel immense satisfaction knowing that every effort led us closer to our shared vision. It’s a reminder that success is built not just on grand strategies but on the execution of everyday actions, and I will cherish that lesson for the rest of my life.
Statistics reveal just how critical execution is in determining a company’s success. According to a Harvard Business Review survey, 95 per cent of a company’s employees are unaware of, or do not understand, its strategy. This lack of understanding can lead to poor execution. However, companies that effectively communicate their strategies and execute them well can experience up to a 30 per cent increase in performance metrics.
Moreover, a 2021 study conducted by McKinsey found that organisations with strong execution capabilities are 2.5 times more likely to outperform their competitors in terms of profitability and growth. They define strong execution as a combination of clear priorities, defined roles, and ongoing feedback loops – elements that foster both accountability and adaptability within teams.
Dear leader, execution is not just a task; it is a commitment that every effective leader must embrace. From our experiences to the exemplary efforts of leaders like Nadella and Barra, it’s clear that the ability to turn great ideas into actionable results is what separates successful leaders from those who merely manage. By fostering a culture of execution within our teams, we can inspire innovation and drive significant change.
Dear leader, execution is the real game-changer in any endeavor, and a few notable quotes really drive this point home. Will Rogers quipped, “The road to success is dotted with many tempting parking spaces.” This humorously highlights the distractions we face. It’s all too easy to pull over and lose momentum. Instead of pressing on toward our goals, we can end up in a comfort zone that stunts our growth.
Lou Gerstner’s perspective adds another layer, emphasizing that “good strategy execution requires more than just an occasional act of will”. He points out that leaders must cultivate discipline – not just a burst of energy but a sustained commitment. This concept is crucial; it’s about building habits that keep progress alive.
As we continue to explore leadership’s multifaceted nature, remember that while love, enthusiasm, appreciation, and growth mindset are critical, execution stands as the keystone. With firm conviction, we encourage you to embrace execution in your leadership journey, as leaders, it is our responsibility to turn our dreams into realities, not just for ourselves but for those we lead.
The views expressed here are those of the writers and do not necessarily represent the views of Sarawak Tribune. The writers can be reached at argenisangulo@gmail.com and lawleepoh@gmail.com.
