Last year saw its share of losers in the business arena. For many, the business model and strategy was sound, but the company fell down when it came to execution.
In fact, only 36% of leaders who think their company has an “execution gap” are confident in their organization’s ability to close the gap between strategy and execution, according to a study in the new book, Closing the Execution Gap, by Rick Lepsinger. The book points to four of last year’s headline-making companies and lessons learned about execution:
1. BP. Leading up to (and after) the oil spill, BP violated almost all guidelines of effective execution, including lacking an effective structure and lacking clear accountability.
Consider that hours before the explosion, the rig crew was arguing about the best way to finish the well. A “company man” told rig workers “how it’s going to be.” Although rig workers felt the plan was too risky, they reluctantly agreed....(register to read more)