Strategy, Execution, and Innovation

Fast Company writes:

Never is execution more important than when innovation is at the heart of a strategy.

That is because innovation always involves treading into uncertain waters. And as uncertainty rises, the value of a well-thought-out strategy drops. In fact, when pursuing entirely new business models, no amount of research can resolve the critical unknowns. All that strategy can do is give you a plausible starting point. From there, you must experiment, learn, and adapt.

Execution. For a proven business, it is about performing at or above known standards. Many large, established organizations are able to sustain success because they are ruthless about holding their managers accountable to meeting or exceeding standards.

Executing an experimental business is different. It is about zeroing in on the best possible strategy. And in the process, discovering what standards are possible.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.