The Ability to Execute
January 17, 2016 by
Filed under: Risk Management
When evaluating options, people often look at two distinct dimensions; strategy and vison vs ability to execute. What is the idea behind these dimensions and does it actually work? It makes sense to look at things this way because you will want to know if what youre looking at works now and if it will work in the future. A former colleague once used the following example of seeing his sons girlfriend and notices how pretty she is, but wonders if she has the ability to keep the conversations going. What I mean here is that what applies to family life can also apply to business (well, in this case). You should look at it and determine whether things will work for your immediate and future needs. Some of which you may very well not know yet, so you need a partner to work with who understands this concept and is sometimes one step or two ahead of you.
Vision is only useful with a proper ability to execute
Now, where is the balance? What is more important of these two dimensions? Strategy and vision on the one side, or the ability to execute on the other? Of course, you need both; however, is one more important than the other? The thoughts of the late German Bundeskanzler Helmut Schmidt may well be of help here. He famously stated, People who have a vision should see a doctor. Now, this may be a bit too strong, though admittedly quite funny, but there is certainly truth in it. Without the proper ability to execute, vision is useless. If you need the latest version of MS PowerPoint to run your project, something is not quite right.
I am therefore more than happy to see that independent analysts rate our strategy and vision strongly, but even more so that they rate our ability to execute as the highest among our peers.