Execution - A Book Summary

You've got the bright ideas and the smart people, and the market is just ready for you. But why hasn't your business taken off as you predicted? Maybe the problem is in your execution. What does it really take to get a business going? You need the right people combined with realistic strategies to create effective operating procedures. Let Larry Bossidy and Ram Charan tell you how.

A business leader's most important job is the execution of plans, the "detail work," making sure that the staff is getting results. This is the sort of responsibility that cannot be delegated. It is the leader's primary duty to see that every member of the team is carrying out his part of the big plan to ensure the whole company's success. There are no excuses for failure: the market will always be tough. What spells the difference between successes and failures is the ability to execute plans.

Too often, too much intellectualizing and philosophy occurs at the planning level. The leaders are busy with their dreams and plans for success but there is little focus on implementation, thus the promised result is not delivered. The emphasis on execution as an integral part of the business process has not received enough attention in terms of accumulated knowledge and literature.

The Building Blocks of Execution

The Leader's Seven Essential Behaviors

1. Know Your People and Your Business.

2. Insist on Realism.

3. Set Clear Goals and Priorities.

4. Follow Through.

5. Reward the Doers.

6. Expand People's Capabilities through Coaching.

7. Know Yourself.

Creating the Framework for Cultural Change

You can't just institute changes for the sake of shaking things up at your company. Your changes must be geared towards getting results. Be specific: what sort of behavior is acceptable in your company? What's unacceptable? Change must begin at the top-level, to set an example down the line. Don't just expect it to happen either. Reward successful implementation of your plans to instigate change.

The Job No Leader Should Delegate-Having the Right People in the Right Jobs

Hiring the right people is as important as planning ahead; you need people who are not only capable, but also full of potential for growth as your business expands. Take time to focus on your staff, because in effect your business is in their hands. Take time to develop your staff's leadership capabilities so that they can bring results to your plans and visions. Assess individual capabilities and determine if you can further develop your employee through training, coaching and exposure, or if he's better off elsewhere. If you can properly develop your people, you should be able to fill top administrative posts from within. Hire a talented person and she will hire a talented person.

The Processes of Execution

A. Linking People to Strategy and Operations

Break your strategy down into manageable near-, medium- and long-term goals. Determine kinds of skills you need for the upcoming goals and start laying the foundations early. Then design an action plan for each step of your big plan.

B. Developing the Leadership Pipeline Through Continuous Improvement, Succession Depth and Reducing Retention Risk

Meeting your goals depends on the quality of the people you have. Assess today those who can be leaders in the future through the following: The Leadership Assessment Summary, The Continuous Improvement Summary, Succession Depth, and Reducing Retention Risk Analysis.

C. Dealing with Non-performers

Non-performers are people who aren't meeting their established goals. This does not mean that they're unqualified or incapable. It just means they aren't performing at the level required for your company's success. Sometimes you just need to coach a person to get them better acquainted with a job. Sometimes they just need to be transferred to another division or responsibility that's better suited to their capabilities. Other times there's no choice but to let him go. However, do so in a manner that allows the person to keep his dignity.

D. Linking HR to Business Results

The role of the HR department in a company is different now. The HR function must set out to fill the positions that are and will be important as projects and plans progress over the upcoming months-even years. Use the HR division to keep track of your company's top people across the whole organization, to see who can be groomed, or even promoted already, for key positions. HR should not only be able to assess people in their current jobs but also the people below them-if one person is to be promoted, someone should be adequately qualified to fill the upcoming void.

Examine all your strategies and determine the sorts of skills you need for these plans. If you can't develop the right people in time, determine if you need to hire from outside. Identify which jobs are critical, and which ones will be critical down the line. Are they filled with the right people? Monitor also the top positions in the company and spell out criteria for filling them. If there is a sudden vacancy, is there someone you haven't considered who might be more than qualified? If you know your people and their capabilities, filling the vacancy should be a small problem, especially if you've done your job in developing them for leadership.

The Importance of Hows

Even brilliant strategies are bound to fail if not grounded in realities-regarding the competition, the capabilities of the company's own people, the market, the product offerings. When creating strategies, consider not only the current realities of all relevant factors, but also unexpected-if unlikely-turns of events. There must always be backup plans, or at least people who can quickly think up alternative plans to make the best of a botched situation. Adaptability to change should always be a consideration: constantly review your plan to see if it is being executed properly, if current and future steps are still feasible, and if the people in charge are still getting results.

Building the Operating Plan

1. Set the targets: Keep your targets realistic. Base them on track records and histories.

2. Develop action and contingency plans: Study the possible outcomes that might leave the company most vulnerable and base your contingency plan on that. In other words, plan for the worst.

3. Get agreement and closure from all participants: Communicate agreed-upon goals to the people concerned after the meeting, to reiterate your expectations and what they promised to deliver.

Outcomes of the Operations Process

Think carefully: what does your business want to achieve? Think of this vis-à-vis what your company is likely to achieve. Watch how the operations affect your company, especially for the need to reallocate resources. Conduct quarterly reviews to see if you're still on track, who's keeping you there, and if you should even be there in the first place.

By: Regine P. Azurin and Yvette Pantilla Regine Azurin is the President of BusinessSummaries.com, a company that provides business book summaries of the latest bestsellers for busy executives and entrepreneurs.

http://www.bizsum.com "A Lot Of Great Books... Too Little Time To Read" Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs

Mailto: mailto:freearticle@bizsum.com
BusinessSummaries is a BusinessSummaries.com service.
(c) Copyright 2001- 2005 ,BusinessSummaries.com - Wisdom In A Nutshell

---

Google News Updated : Sun, 06 Jul 2008 06:55:22 GMT Smallest planet shrinks in size - BBC News Canada.com Smallest planet shrinks in size BBC News - Jul 4, 2008 The smallest planet in the Solar System has become even smaller, studies by the Messenger spacecraft have shown. Data from a flyby of Mercury in January 2008 show the planet has contracted by more than one mile (1.5km) in diameter over its history. First Results From Messenger's Mercury Flyby Slashdot Mercury is shrinking, NASA craft finds; a cool clue: 'lobate scarps' Los Angeles Times eFluxMedia - Baltimore Sun - Examiner.com - ChattahBox all 155 news articles Publ.Date : Fri, 04 Jul 2008 11:45:26 GMT Obama "puzzled" by Iraq comment frenzy - Reuters Washington Post Obama "puzzled" by Iraq comment frenzy Reuters - 1 hour ago By John Whitesides, Political Correspondent ST. LOUIS (Reuters) - Democratic presidential candidate Barack Obama said on Saturday his plan to end the Iraq war was unchanged and he was puzzled by the sharp reaction to his statement this week that he ... Obama struggles to thread needle on Iraq AFP Obama Refines the Blame on Iraq Miscue New York Times International Herald Tribune - Voice of America - Washington Times - New York Daily News all 1,620 news articles Publ.Date : Sun, 06 Jul 2008 05:08:23 GMT Argentine Lower House Passes Grain Export-Tax Plan (Update3) - Bloomberg Voice of America Argentine Lower House Passes Grain Export-Tax Plan (Update3) Bloomberg - 8 hours ago By Eliana Raszewski July 5 (Bloomberg) -- Argentina's lower house of congress approved the government's plan to increase taxes on exports of grains and oilseeds, risking a resumption of three months of strikes by farmers. Export Tax That Angers Farmers Advances in Argentina New York Times Argentina lawmakers approve farm export tax hike guardian.co.uk RTT News - BBC News - The Associated Press - AFP all 144 news articles Publ.Date : Sat, 05 Jul 2008 22:41:30 GMT Ore. man completes flight of fancy _ in lawn chair - The Associated Press The Associated Press Ore. man completes flight of fancy _ in lawn chair The Associated Press - 1 hour ago CAMBRIDGE, Idaho (AP) - Using his trusty BB gun to help him return to Earth, a 48-year-old gas station owner flew a lawn chair rigged with helium-filled balloons more than 200 miles across the Oregon desert Saturday, landing in a field in Idaho. Video: Ore. Man Uses Balloons and a Lawn Chair to Fly AssociatedPress Believe it or not, he's lounging on air The Oregonian - OregonLive.com CNN International - BBC News - KOHD - San Jose Mercury News all 1,071 news articles Publ.Date : Sun, 06 Jul 2008 05:50:31 GMT McCain Battles a Nemesis, the Teleprompter - New York Times New York Times McCain Battles a Nemesis, the Teleprompter New York Times - 7 hours ago Mary Altaffer/AP By MARK LEIBOVICH LAS VEGAS —Senator John McCain was performing relatively smoothly as he unveiled his energy plan. McCain Campaign, in Relaunch, Seeks Tighter Message Focus Wall Street Journal McCain Campaign on Obama and Iraq FOXNews The Associated Press - Washington Post - Los Angeles Times - CNN all 737 news articles Publ.Date : Sat, 05 Jul 2008 23:31:52 GMT Analysis: McCain struggles to regain footing - The Associated Press The Associated Press Analysis: McCain struggles to regain footing The Associated Press - 2 hours ago WASHINGTON (AP) - John McCain calls himself an underdog. That may be an understatement. The GOP presidential candidate trails Democrat Barack Obama in polls, organization and money while trying to succeed a deeply unpopular fellow Republican in a year ... Rural voters lean to the GOP St. Joseph News-Press Neither Obama nor McCain meets Energy Party standard The State New York Times - Online Athens - Washington Post - Newsweek all 465 news articles Publ.Date : Sun, 06 Jul 2008 04:40:55 GMT Hippie Arrests Draw ACLU’s Attention - New York Times ABC News Hippie Arrests Draw ACLU’s Attention New York Times - 6 hours ago By AP CHEYENNE, Wyo. (AP) - The American Civil Liberties Union said on Saturday that it would investigate the actions of federal officers who had arrested five members of the Rainbow Family in western Wyoming during the group’s annual gathering. ACLU plans to investigate Rainbow Family treatment The Associated Press ACLU to investigate Rainbow Family treatment LocalNews8.com WKOW-TV.com - Billings Gazette - cbs4denver.com - Austin American-Statesman all 306 news articles Publ.Date : Sun, 06 Jul 2008 00:40:38 GMT RSS Software Increased Web Site Traffic

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Bob the Dragon Slayer - Book Review

This very fun, exciting, fast-paced, warm novella - Bob the... Read More

What is the Emperor Wearing - A Book Summary

What is the Emperor Wearing?Once upon a time, an emperor... Read More

Free Ebook Offer: The Story of America: Discovery - Article 2

Just think. If the Vikings had made just that little... Read More

The Power of 2 - AchieveMax® Top Ten Book Review

The Power of 2: Win Big with People in Your... Read More

Not Just A Shocking Horror Tale: The Surgeon By Tess Gerritsen

The Surgeon grabbed me and kept me reading. The suspense... Read More

Washington Historian Remembers Harriet Lane, the Greatest First Lady

Washington Historian Remembers Harriet Lane, the Greatest First LadyWASHINGTON DC:... Read More

Metaphorically Selling

The Big IdeaA lot of people consider selling a very... Read More

Book Summary: The 17 Indisputable Laws Of Teamwork

To achieve great things, you need a team. Building a... Read More

Book Review: What Color Is Your Parachute?

What Color is Your Parachute? Reviewed by: Matt Keegan ©... Read More

Sorat and the Modern Day Evil

"Sorat's evil will be spread by his infernal army of... Read More

The Laid Daughter

There has been a lot of publicity lately centered on... Read More

Empowering Teenagers - A Few Clues About Teens And A New Book

EMPOWERING TEENAGERSFrom a new book: "Adolescence is a difficult period,... Read More

Free Ebook Offer: The Story of America: Discovery

Did Columbus first discover America?Did the Vikings first discover America?Did... Read More

Alison?s Journey: Book Review

"The dedication in this book is a work of poetry... Read More

Twin Falls, Gooding, Jerome, ID, and Regional Economic Outlook for 2005

Twin Falls Economic Report done by me; Twin Falls, ID... Read More

Fire in the Ice: Book Review

"An excellent novel that will wring tears of frustration and... Read More

Give a Little - Book Review

This 310 page saga is Scott Underhill's second superbly written... Read More

Review: How To Write and Publish Your Own eBook in as little as 7 Days

How To Write and Publish Your Own eBook in as... Read More

Are You Using Both Sides of the GoogleCoin?

By now most of you realise that Google can give... Read More

Pausing To Catch My Breath - Book Review

"Debra Warren has appropriately titled her book of poetry 'Pausing... Read More

Giving Feedback or Writing Reviews of Bad Stuff

Some book reviewers say that when they don't like a... Read More

Stewie Griffin Depicts the Winter of Spenglers Discontent

Oswald Spengler predicted a protracted winter in The Decline of... Read More

Product Review: Quick and Easy Ways to Instantly Mine Pure Gold from WordTracker

The other day I was surfing the net looking for... Read More

Hug Your Customers - AchieveMax® Top Ten Book Review

Don't panic. Jack Mitchell, the author of Hug Your Customers:... Read More

Chris Carpenters Google Cash - An Ebook Review

It is rare to find a brand new blueprint for... Read More