Good Strategy + Good Strategy Execution = Good Management

Crafting and executing strategy are core management functions. Among all the things managers do, nothing affects a company’s ultimate success or failure more fundamentally than how well its management team charts the company’s direction, develops competitively effective strategic moves and business approaches, and pursues what needs to be done internally to produce good day-to-day strategy execution and operating excellence. Good strategy and good strategy execution are the most trustworthy signs of good management. The better conceived a company’s strategy and the more competently it is executed, the more likely it is that the company will be a standout performer in the marketplace.
CORE CONCEPT: Excellent execution of an excellent strategy is the best test of managerial excellence – and the most reliable recipe for turning companies into standout performers.