To survive and prosper in this tougher environment, a company needs to do more than simply reduce costs. It needs to be agile, craft new strategies, innovate products and services, quickly seize opportunities, and strengthen relationships with customers and employees. Above all, a company must radically bolster its ability to execute business strategies.
The new normal drives a strong differentiation between top performing companies—what I refer to as high performance enterprises—and their
competitors. The high performance enterprise doesn’t excel in just one arena; it performs at peak levels across the company.Management has full real-time knowledge of the company’s operations and quickly remedies problems. The result is a company for which market analysts applaud consistent earnings; shareholders applaud dividends and yield; customers applaud the product/service value; suppliers and partners applaud business expansion
and growth; employees applaud a win-win value proposition and an environment in which they thrive. A high performance enterprise consistently meets and exceeds expectations.
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Great Strategy + Lousy Execution = failure. No exceptions to this rule. Don Tapscott argues that one can have them both. If only they tried.
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