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In the year 2000 alone, 40 CEO’s of the top 200 companies on Fortune’s 500 list were removed. When 20 percent of the most powerful business leaders in America lose their jobs, something is wrong.
Could there be anything wrong in the Hudson Valley? In recent years, we have embraced big business ideas like reinvention, breakthrough thinking, and have become learning organizations. Without execution, the breakthrough thinking breaks down and learning adds no value. Execution is the missing link between goals and achievement. Execution is the most important job of any business leader. The only difference between the leading company and its nearest competitor is the ability to execute. When companies fail to deliver on their promises, the most frequent explanation is that the owner’s strategy was wrong. Strategy by itself is usually not the cause. Strategies most often fail because they aren’t executed well. Execution is a discipline that must be linked to strategy. However, in order to implement and successfully carry out any process, effective organizational leadership must be firmly in place. The most successful, execution-driven, Hudson Valley firms have these behaviors in common. First, they know their people (employees and customers) and their business. In companies that don’t execute, leaders are usually out of touch with the day-to-day. Leaders insist on realism and make realism a priority by being realistic and involved with customers and employees. Hudson Valley business leaders set very few, but very clear, goals and priorities that everyone can grasp. Why just a few? Failure to focus and follow through is a major cause of poor execution. Create a follow-through mechanism that ensures that everyone will do what he or she is supposed to. If you want people to produce specific results, reward them accordingly. When Hudson Valley organizations don’t execute, the chances are that they don’t measure, don’t reward, and don’t promote people who know how to get things done. Expand people’s capabilities through coaching. It’s how you will get results today and leave a legacy that you can take pride in when you move on. The most effective way to coach is to observe a person in action and then provide specific useful feedback. Everyone pays lip service to the idea that leading a business requires strength of character. To know yourself, you must develop emotional fortitude: an awareness of your personal strengths and weaknesses, and the ability to build on the strengths and correct the weaknesses. Without emotional fortitude, you can’t be honest with yourself or deal honestly with business realities. If you cant’ do these things, you can’t execute. It takes emotional fortitude to be open to information you need, whether it’s what you would like to hear or not. Emotional fortitude gives leaders the courage to set very few, but very clear, goals and priorities. The same fortitude then allows leaders to execute the best of winning strategies. |
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| This article is provided by Joe Murtagh, “The DreamSpeaker™” www.TheDreamSpeaker.com. For keynotes, facilitation, workshops, consulting and questions or or a free report on The 3 Most Common Mistakes Organizations Make, email us at Joe@TheDreamSpeaker.com or call 800-239-0058.
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In the year 2000 alone, 40 CEO’s of the top 200 companies on Fortune’s 500 list were removed. When 20 percent of the most powerful business leaders in America lose their jobs, something is wrong.