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Business Execution - Essay Example

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Summary
According to Bossidy, Charan, Burck execution is "systematic process of rigorously discussing hows and whats, questioning, tenaciously following through, and ensuring accountability [which] includes making assumptions about the business environment, assessing the organization's capabilities, linking strategy to operations and the people who are going to implement disciplines, and linking rewards to outcome."
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Business Execution
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Business Execution Execution is an integral function of management. It allows business organizations to carry out their plans and strategies. According to Bossidy, Charan, Burck execution is "systematic process of rigorously discussing hows and whats, questioning, tenaciously following through, and ensuring accountability [which] includes making assumptions about the business environment, assessing the organization's capabilities, linking strategy to operations and the people who are going to implement disciplines, and linking rewards to outcome."
Changes in business execution are often needed in order to take into account the different trends and changes in the environment. Execution should always be responsive to the internal issues and external environment of a business organization.
Importance of Execution
Thomson (2002) states that the two most important aspects of strategic management are creation of business strategy and execution.
Execution allows business organization to put their plans into action. Thus, execution is a key to organizational success. Without a careful, planned approach to execution, strategic goals cannot be attained.
Good execution maximizes shareholder value which is the major financial goals of business organizations.
My Viewpoint
I believe that business execution is one of the cornerstones of a business organization's success. Business plans and strategies are useless unless they are executed. The realization of the company's goals is almost fully dependent on the execution of its plans. However, it should also be noted that execution in business is often tedious and complicated. For one, the plans being executed should always be modified in order to cope with the changes and developments in the environment. Execution is also a matter of coordinating everyone in the company to carry out their specific functions as planned. I would also like to stress that execution is only as good as the plan and strategy created. Even if the firm has been very good in putting its plan into action if the plan is not efficient, it will still be far from realizing its goals and objectives.
References
Bossidy, L., Charan, R., & Burck Charles. (2002) Execution: The Discipline of Getting Things Done. New York: Crown Business
Thompson, A. & Strickland , J (2002).Strategic Management.3rd ed. New York McGraw-Hill Read More
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