You know you have execution issues if three things exist:

1. There is needless drama in the organization (e.g., something shipped out late; the invoice was wrong; someone missed a meeting; etc.).

1. Everyone seems to be working more hours, spinning his wheels, or spending too much time fixing things that should have been done right the first time.

1. Most important, the company is generating less than three times industry average profitability.

In an organization in which procedures had become un-tethered from their origins and intent, and where codification had replaced personal responsibility, the first task was to eradicate process itself. I had to send a breath of fresh air through the whole system. So I

took a 180-degree turn and insisted there would be few rules, codes, or books of procedures…

I believe all high-performance companies are led and managed by principles, not by process. Decisions need to be made by leaders who understand the key drivers of success in the enterprise and then apply those principles to a given situation with practical wisdom, skill, and a sense of relevancy to the current environment.

Execution—getting the task done, making it happen—is the most unappreciated skill of an effective business leader.

So, execution is really the critical part of a successful strategy. Getting it done, getting it done right, getting it done better than the next person is far more important than dreaming up new visions of the future.

But alas, too often the executive does not understand that people do what you inspect, not what you expect.

Execution is all about translating strategies into action programs and measuring their results. It’s detailed, it’s complicated, and it requires a deep understanding of where the institution is today and how far away it is from where it needs to go. Proper execution involves building measurable targets and holding people accountable for them.